1821 S 310th St, Federal Way, WA 98003

$3,800,000
16,770
SqFt

Listing courtesy of Pilot Ventures LLC.

List Price
$3,800,000
Status
ACTIVE
MLS#
1617083
Days on Market
53
Style
56 - 10+ Units
Finished SqFt
16,770
Lot Size (sq ft)
41,160

Property Description

Southwynd consists of 3 apartment buildings situated on 3 tax parcels, including a vacant corner lot. Diverse unit mix with spacious, open layouts that appeal to a wide variety of tenants. Appealing canvas for potential renovation. Self-managed for 15 years and meticulously maintained. Close to Federal Way Commons and Transit Center (inlc future light rail). See Offering Memorandum for full details on this great value-add opportunity in a convenient pocket of South King County.

Additional Information

List Date
2020-06-17 00:00:00
Community
Steel Lake
Property Type
MULT
Units
20
Stories
2
Potential Terms
Cash Out
Year Built
1963
Total Parking
38
Uncovered Parking
38
Exterior
Wood
Roof
Composition
Lot Details
Corner Lot, Paved Street
School District
Federal Way
Elementary School
Wildwood Elem
Middle School
Sacajawea Jnr High
High School
Federal Way Snr High
Total Monthly Income
$22,280
Gross Scheduled Income
$267,360
Vacancy Rate
5
Gross Adjusted Income
$260,352
Annual Taxes
$23,112
Tax Year
2019
Insurance Expense
$8,119
W/S/G Expenses
$10,000
Total Expenses
$72,803
Net Operating Income
$187,549
Gross Rent Multiplier
14
Cap Rate
4

Room Dimensions

Unit 1 Beds
3
Unit 1 Baths
1.00
Unit 1 Size
980
Unit 1 Rent
$1,400
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
840
Unit 2 Rent
$1,350
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
840
Unit 3 Rent
$900
Unit 4 Beds
3
Unit 4 Baths
1.00
Unit 4 Size
980
Unit 4 Rent
$1,400
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
840
Unit 5 Rent
$1,200
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
840
Unit 6 Rent
$1,065
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