1603 Washington Street, Steilacoom, WA 98388

$1,600,000

Listing courtesy of Kidder Mathews.

List Price
$1,600,000
Status
ACTIVE
MLS#
2241506
Days on Market
642
Style
55 - 5-9 Units
Annual Tax Ammount
7919
Lot Size (sq ft)
11,900
Sewer
Available

Property Description

Built in 1957, this two story two building offering sits atop Pacific Street with in unit views of the Puget Sound. Resting on .27 AC of irreplaceable real estate, the Steilacoom 7-unit holds a mix of 1 and 2-bedroom units as well as an 800 SF separated house containing a spacious 2-bedroom layout. A truly unique design, the Steilacoom 7-unit has seen major recent capital expenditure items that include new retaining wall, carport structure and upgraded landscaping. In addition, the interiors have seen a light reno of all units and upgrades to both plumbing and electrical.

Additional Information

List Date
2022-09-11 20:17:10
Community
Steilacoom
Net Operating Income
$95,533
Gross Adjusted Income
$136,781
Gross Scheduled Income
$143,980
Total Monthly Income
$11,998
Insurance Expenses
$3,000
Water/Sewer/Garbage Expenses
$14,380
Gross Rent Multiplier
1600000
Total Expenses
$41,248
Cap Rate
6
Vacancy Rate
5
Total Number of Units
7
Unit Name
1603
Potential Terms
Conventional
Year Built
1947
View
Sea
Roof
Composition
Other Expenses
15949
Energy Source
Electric
School District
Steilacoom Historica
Total Monthly Income
$11,998
Gross Scheduled Income
$143,980
Vacancy Rate
5
Gross Adjusted Income
$136,781
Tax Year
2024
Insurance Expense
$3,000
W/S/G Expenses
$14,380
Total Expenses
$41,248
Net Operating Income
$95,533
Gross Rent Multiplier
1600000
Cap Rate
6
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