5306 5308 51st Avenue Ct W, University Place, WA 98467

$800,000
2,443
SqFt

Listing courtesy of Keller Williams Rty Tacoma. Selling Office: Keller Williams Seattle Metro.

Sold Price
$800,000
List Price
$800,000
Status
SOLD
MLS#
2161981
Closing Date
Dec 18, 2023
Days on Market
62
Style
52 - Duplex
Building Condition
Very Good
Finished SqFt
2,443
Area Total SqFt
2443
Annual Tax Ammount
7864
Lot Size (sq ft)
11,798
Sewer
Sewer Connected

Property Description

Pristine Duplex Investment with a Unique Owner-Occupied Option in the highly coveted University Place area. This duplex is meticulously maintained, boasting both an attractive facade and low maintenance needs, offering investors peace of mind. Inside, you'll discover spacious units with multiple bedrooms and bathrooms, propane fire places, vaulted ceilings and large 2 car garage each side, making them ideal for tenants and comfortably accommodating owner-occupiers. The flexibility of this investment is a standout feature - whether you choose to enjoy steady rental income from one unit while residing in the other, or opt to lease both units at competitive market rates. Tenants cover essential costs, power, water, garbage, and propane.

Additional Information

List Date
2023-10-17 00:00:00
Community
University Place
Net Operating Income
$36,211
Gross Adjusted Income
$46,560
Gross Scheduled Income
$48,000
Total Monthly Income
$4,000
Insurance Expenses
$1,141
Water/Sewer/Garbage Expenses
$1,344
Gross Rent Multiplier
16
Total Expenses
$10,349
Cap Rate
4.5
Vacancy Rate
3
Total Number of Units
2
Unit Name
5306 5308
Potential Terms
Cash Out, Conventional, FHA, VA Loan
Year Built
2003
Roof
Composition
Site Features
Cable TV, Deck, Propane, Sprinkler System
Energy Source
Electric, Propane
School District
Tacoma
Total Monthly Income
$4,000
Gross Scheduled Income
$48,000
Vacancy Rate
3
Gross Adjusted Income
$46,560
Tax Year
2023
Insurance Expense
$1,141
W/S/G Expenses
$1,344
Total Expenses
$10,349
Net Operating Income
$36,211
Gross Rent Multiplier
16
Cap Rate
4.5
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