8514 Washington Boulevard SW, Lakewood, WA 98498

$800,000
2,728
SqFt

Listing courtesy of Real Estate Resource Partners.

List Price
$800,000
Status
ACTIVE
MLS#
2013755
Price Change
▼ $175,000 1675764219
Days on Market
58
Style
54 - 4-Plex
Building Condition
Good
Finished SqFt
2,728
Area Total SqFt
2728
Annual Tax Ammount
5185
Internet Provider
Xfinity
Lot Size (sq ft)
9,000
Sewer
Sewer Connected

Property Description

Great cashflow for a straightforward investment. Fully furnished fourplex short-term rental business. Very stable market with high demand. Units were remodeled within the last 4 years, new roof and crawlspace work in 2020. Seller keeps a waiting list and has tenants booked before most units vacate. Rents vary slightly based on whether or not tenant has pets. Almost no vacancy & quick turn over between tenants. Operational since 2019 & seller has a history with multiple other properties proving the model. Seller will share contacts for cleaning service and other business related details with the new owner for a seamless transition.

Additional Information

List Date
2022-12-13 03:37:09
Community
Lake City
Net Operating Income
$69,950
Gross Adjusted Income
$89,400
Gross Scheduled Income
$89,400
Total Monthly Income
$7,450
Insurance Expenses
$1,858
Gross Rent Multiplier
8.9
Total Expenses
$19,450
Cap Rate
8.7
Total Number of Units
4
Unit Name
8514
Potential Terms
Cash Out, Conventional, FHA, Owner Financing, See Remarks, VA Loan
Year Built
1956
Roof
Composition
Site Features
Fenced-Fully
Heating/Cooling Type
Baseboard
Other Expenses
12407
Energy Source
Electric
School District
Clover Park
Elementary School
Lake Louise Elem
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$7,450
Gross Scheduled Income
$89,400
Gross Adjusted Income
$89,400
Tax Year
2022
Insurance Expense
$1,858
Total Expenses
$19,450
Net Operating Income
$69,950
Gross Rent Multiplier
8.9
Cap Rate
8.7
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