1603 Washington Street, Steilacoom, WA 98388

$1,798,000
4,924
SqFt

Listing courtesy of Coldwell Banker Danforth.

List Price
$1,798,000
Status
ACTIVE
MLS#
2175546
Days on Market
485
Style
55 - 5-9 Units
Building Condition
Good
Finished SqFt
4,924
Area Total SqFt
4924
Annual Tax Ammount
7860
Internet Provider
Comcast
Lot Size (sq ft)
11,900
Sewer
Sewer Connected

Property Description

Investors' Dream: Elevate your portfolio with this exceptional offering in the heart of Steilacoom. Masterfully renovated 6-Plex alongside the mid-century 2-bedroom home, combining modern luxury with vintage charm. Exclusive Features: all 7 units boast covered parking, additional storage, & access to a shared, elegantly landscaped courtyard garden. Unbeatable Views: iconic panoramas of the Olympic Mts & Puget Sound. Location: Situated in historic & scenic Steilacoom, blend of serenity & convenience. Consistent Occupancy: low turnover & rock-bottom vacancy rate, indicative of high tenant satisfaction & steady cash flow; a long-term, high-yield investment. Dive into the Steilacoom market with confidence & secure this unparalleled asset today!

Additional Information

List Date
2022-08-07 01:39:44
Community
Steilacoom
Net Operating Income
$94,555
Gross Adjusted Income
$132,924
Gross Scheduled Income
$139,920
Total Monthly Income
$11,655
Insurance Expenses
$2,752
Water/Sewer/Garbage Expenses
$15,277
Gross Rent Multiplier
13.5
Total Expenses
$38,369
Cap Rate
5
Vacancy Rate
5
Total Number of Units
7
Unit Name
1603
Potential Terms
Cash Out, Conventional, See Remarks, VA Loan
Year Built
1947
View
Bay, City, Mountain(s), Ocean, See Remarks, Sound
Roof
Composition
Site Features
Cable TV, Fenced-Partially, High Speed Internet, Patio, Sprinkler System
Other Expenses
12480
Energy Source
Electric
School District
Steilacoom Historica
Elementary School
Cherrydale Elem
Middle School
Pioneer Mid
High School
Steilacoom High
Total Monthly Income
$11,655
Gross Scheduled Income
$139,920
Vacancy Rate
5
Gross Adjusted Income
$132,924
Tax Year
2023
Insurance Expense
$2,752
W/S/G Expenses
$15,277
Total Expenses
$38,369
Net Operating Income
$94,555
Gross Rent Multiplier
13.5
Cap Rate
5
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