5314 San Francisco Ave SW

    Lakewood, WA 98499
    • $1,850,000
    • STATUS: Pending
    • ON SITE: 45 days
    • ID#: 1392357
    Under Contract
    UPDATED: 41 min ago
    $1,850,000
    • 0
      BEDS
    • 0.95
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,450
      SQFT
    • $149
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1977
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:
    Listing Courtesy of Kidder Mathews.

    Description

    Strategically located in an Opportunity Zone near I-5, SR 512, and amenities, LakeAire Apartments is a light value-add 25-unit Apt property in Lakewood WA. Part of the lot can support additional units, or can be subdivided and sold. LakeAire Apts, priced at $74k/unit with a current 6.3% cap, 7%cap by raising older rents to match current unit rents, will not only benefit from Lkwd and Pierce Cos expected growth, but also from anticipated district investments as a result of the Opp. Zone program.

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    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Kimberly Gartland Group - Keller Williams Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-01-22T15:16:18.667.

    www.kimberlygartlandgroup.com/homes/89923338

    5314 San Francisco Ave SW Lakewood, WA 98499

    • Price: $1,850,000
    • Status: Pending
    • Updated: 41 min ago
    • ID#: 1392357
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.95
    Acres
    12,450
    SQFT
    $149
    $/SQFT
    1977
    Built
    Neighborhood:
    Lakewood
    County:
    Pierce
    Area:
    Lakewood
    Elementary School:
    Tyee Park Elem
    Middle School:
    Lochburn Mid
    High School:
    Clover Park High
    School District:
    Clover Park
    Property Description
    Strategically located in an Opportunity Zone near I-5, SR 512, and amenities, LakeAire Apartments is a light value-add 25-unit Apt property in Lakewood WA. Part of the lot can support additional units, or can be subdivided and sold. LakeAire Apts, priced at $74k/unit with a current 6.3% cap, 7%cap by raising older rents to match current unit rents, will not only benefit from Lkwd and Pierce Cos expected growth, but also from anticipated district investments as a result of the Opp. Zone program.
    Exterior Features

    Carport Spaces 0 Exterior Cement PlankedWood Foundation Slab Garage Spaces 0 Lot Details Paved Street Roof Composition Stories In Building 2 Style 56 - 6-9 Units Total Parking Spaces 32 Uncovered Spaces 32

    Interior Features

    Floor Covering Laminate HardwoodVinylWall to Wall Carpet Heating And Cooling Baseboard Unit1 Bathrooms 1.00 Unit1 Bedrooms 1 Unit1 Dishwasher Y Unit1 Fireplaces 0 Unit1 Range Oven Y Unit1 Refrigerator Y Unit1 Sq Ft 500 Unit1 Washer Dryer N Unit2 Bathrooms 1.00 Unit2 Bedrooms 1 Unit2 Dishwasher Y Unit2 Fireplaces 0 Unit2 Range Oven Y Unit2 Refrigerator Y Unit2 Sq Ft 500 Unit2 Washer Dryer N Unit3 Bathrooms 1.00 Unit3 Bedrooms 1 Unit3 Dishwasher Y Unit3 Fireplaces 0 Unit3 Range Oven Y Unit3 Refrigerator Y Unit3 Sq Ft 500 Unit3 Washer Dryer N Unit4 Bathrooms 1.00 Unit4 Bedrooms 1 Unit4 Dishwasher Y Unit4 Fireplaces 0 Unit4 Range Oven Y Unit4 Refrigerator Y Unit4 Sq Ft 500 Unit4 Washer Dryer N Unit5 Bathrooms 1.00 Unit5 Bedrooms 1 Unit5 Dishwasher Y Unit5 Fireplaces 0 Unit5 Range Oven Y Unit5 Refrigerator Y Unit5 Sq Ft 500 Unit5 Washer Dryer N Unit6 Bathrooms 1.00 Unit6 Bedrooms 1 Unit6 Dishwasher Y Unit6 Fireplaces 0 Unit6 Range Oven Y Unit6 Refrigerator Y Unit6 Sq Ft 500 Unit6 Washer Dryer N Units Below Grade N

    Property Features

    Amenities Coin Op LaundryThermal Windows Bank Owned No Cap Rate 6.30 Electrical Expenses 0 Energy Source Electric EPSEnergy 0 Form17 Not Provided General Zoning Classification Multi-Family Gross Adjusted Income 216692 Gross Rent Multiplier 8 Gross Scheduled Income 228097 Heating Expenses 0 Hers Index 0 Home Owner Dues 0 Insurance Expenses 7281 Leased Items Washer/Dryer Net Operating Income 117385 New Construction YN No Other Expenses 50472 Possession Closing Septic Approved For Number Of Bedrooms 0 Sewer Sewer Connected Site Features Cable TVFenced-PartiallyPatio Tax Amount 15335 Tax Year 2018 Terms Cash OutConventional Third Party Approval Required None Total Expenses EXP 99307 Total Expenses TEX 99307 Total Monthly Income 19008 Unit1 Monthly Rent 725 Unit2 Monthly Rent 625 Unit3 Monthly Rent 625 Unit4 Monthly Rent 725 Unit5 Monthly Rent 625 Unit6 Monthly Rent 725 Vacancy Rate 5 Water Sewer Garbage 26219 Water Source Public Zoning Jurisdiction City

    Listing information © 2019 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Kimberly Gartland Group - Keller Williams Realty and should be verified by the buyer.
    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Kimberly Gartland Group - Keller Williams Realty are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-01-22T15:16:18.667.

     
    Kimberly Gartland Group - Keller Williams Realty
    5263 Olympic Drive NW, Suite B
    Gig Harbor WA, 98335
    Listing Courtesy of Kidder Mathews.