1507 Wood Avenue E, Sumner, WA 98390

$695,000
2,381
SqFt

Listing courtesy of eXp Realty.

List Price
$695,000
Status
ACTIVE
MLS#
2050077
Days on Market
46
Style
53 - Tri-plex
Building Condition
Average
Finished SqFt
2,381
Area Total SqFt
2381
Annual Tax Ammount
6648
Lot Size (sq ft)
14,400
Sewer
Sewer Connected
Offer Review Date
2023-04-03

Property Description

Triplex with plenty of potential! This triplex provides a great opportunity for investors or House hackers (owner-occupy). The property is situated in a desirable location, close to amenities and transport links, making it an ideal investment opportunity. The layout is unique and includes a duplex in the front and a standalone house at the back of the property. While the property may require some work to bring it up to its full potential, it's an excellent opportunity for those willing to put in the effort. Current rent rates are very low, after some sweat equity and rent adjustment, the pro forma cap rate is 8+%. List of improvements: House: gutters, downspouts, insulation in the crawlspace. Roofs: Duplex 2020, House 2018.

Additional Information

List Date
2023-04-12 22:28:10
Community
Sumner
Net Operating Income
$26,764
Gross Adjusted Income
$40,032
Gross Scheduled Income
$41,700
Total Monthly Income
$3,525
Insurance Expenses
$1,268
Water/Sewer/Garbage Expenses
$5,352
Gross Rent Multiplier
12
Total Expenses
$13,268
Cap Rate
4
Vacancy Rate
4
Total Number of Units
3
Unit Name
1507
Potential Terms
Cash Out, Conventional, FHA, VA Loan
Year Built
1963
Roof
Built-Up, Composition
Site Features
Outbuildings, RV Parking
Energy Source
Electric
School District
Sumner-Bonney Lake
Elementary School
Daffodil Vly Elem
Middle School
Sumner Middle
High School
Sumner Snr High
Total Monthly Income
$3,525
Gross Scheduled Income
$41,700
Vacancy Rate
4
Gross Adjusted Income
$40,032
Tax Year
2023
Insurance Expense
$1,268
W/S/G Expenses
$5,352
Total Expenses
$13,268
Net Operating Income
$26,764
Gross Rent Multiplier
12
Cap Rate
4
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