Thank you for visiting today. If this is your first visit, take your time and look around. We have plenty of information and resources available to you. If you are a return visitor, thank you. We would love to hear from you. We can serve all your real estate needs.

Quick Search


view all


Any

Any

No Min.

No Max.

Thank you for visiting today. If this is your first visit, take your time and look around. We have plenty of information and resources available to you. If you are a return visitor, thank you. We would love to hear from you. We can serve all your real estate needs.

Back to Saved Search
Listing 16 out of 18
$6,800,000 For Sale

15817 64 St E
Sumner, WA 98390

40 units | Multi Family Home
4.3 acres - MLS# 1351244 Courtesy of Westlake Associates, Inc.
Property Photo
1/12

Description

Built in 1973, the Aria Apartments is a 40-unit value add opportunity with a 6% in place cap rate. Currently, 10 units have been renovated yielding a 30% increase in rent. The units have updated kitchens, SS appliances, new mill work package, new paint and new flooring. The building consists 28 two beds and 12 one beds all single-story garden style and in unit W/D. Preliminary plans to add 7 units to the property for additional upside. Next door to the brand-new Gordon Family YMCA.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: Pierce County
  • Zip Code: 98390
  • Year Built: 1973
  • School District: Sumner
  • Sq.Ft.: 36,864 sq ft
  • Units: 40 units
  • # of Parking Spaces: 64
  • Lot Size: 4.3 acres
  • Area: Sumner
  • Area Number: 74
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 1.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Bedrooms Unit 1: 2
  • Bedrooms Unit 2: 2
  • Bedrooms Unit 3: 2
  • Bedrooms Unit 4: 1
  • Bedrooms Unit 5: 2
  • Bedrooms Unit 6: 2
  • Cap Rate - NOI div LP: 6.12
  • Energy Source(heat): Electric
  • Gross Adjusted Income: $637089
  • Gross Rent Multiplier: $10
  • Gross Scheduled Income: $670632
  • Heating/Cooling: Baseboard, Wall
  • Insurance Expenses: $9649
  • Net Operating Income: $415943
  • Number of Stories in Building: 1
  • Number of Uncovered Spaces: 64
  • Other Expenses: $104284
  • Rent Unit 1: $1175
  • Rent Unit 2: $1295
  • Rent Unit 3: $1250
  • Rent Unit 4: $1195
  • Rent Unit 5: $1195
  • Rent Unit 6: $1395
  • Roof: Composition
  • Square Feet Unit 1: 830
  • Square Feet Unit 2: 830
  • Square Feet Unit 3: 830
  • Square Feet Unit 4: 630
  • Square Feet Unit 5: 830
  • Square Feet Unit 6: 830
  • Total Expenses: $221146, $221146
  • Total Monthly Income: $55886
  • Vacancy Rate: 5
  • Water/Sewer/Garbage: 52861
Courtesy of Westlake Associates, Inc.
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocitysm Program. Real estate listings held by brokerage firms other than Windermere Real Estate Lake Tapps Inc. and Windermere Real Estate PSK are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-03-19

Terms of Usage Agreement

Windermere Real Estate Lake Tapps Inc.

Bonney Lake Branch
Office: 253-883-0400
LakeTapps@Windermere.com

Featured Communities

Bonney Lake
Auburn
Sumner
Puyallup

Testimonials Page

Thank you so much for taking the extra effort to make our first home purchase successful. You were there guiding us through all the crucial and important steps! You really listened to what we wanted in our home and you found exactly what we were looking for - at an amazing price! If we ever outgrow this home, we'll definitely be calling you!
View All

Connect With Me

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu