506 -508 Cherry Avenue, Sumner, WA 98390

$1,925,000
6,347
SqFt

Listing courtesy of Terrafin.

List Price
$1,925,000
Status
ACTIVE
MLS#
2062051
Days on Market
28
Style
55 - 5-9 Units
Building Condition
Average
Finished SqFt
6,347
Area Total SqFt
6347
Annual Tax Ammount
13796
Lot Size (sq ft)
28,575
Sewer
Sewer Connected

Property Description

Terrafin is pleased to present this six-unit trophy asset, an irreplaceable piece of real estate in the heart of downtown Sumner. Simultaneous sale of a single story solid brick 4-plex & 2 story duplex ideal to all renters. These adjacent buildings offer sharing access, generous parking area, carports w/storage lockers + more off street parking. Coin-up laundry room serves all. 3 Units are 2 Bd/1Bath and 1 unit is 3 Bd/1.5 Bath. Duplex has main floor 1 bed/1 bath + upstairs 3 bed/1.75 bath unit has own laundry & spacious deck with Mt. Rainier views! Also large 2+car garage. Prime location close to shopping, dining, Sounder station & Loyalty Park. For years, these units have a high demand for rent & make for a straightforward investment!

Additional Information

List Date
2023-04-30 21:51:11
Community
Downtown Sumner
Net Operating Income
$61,789
Gross Adjusted Income
$90,960
Gross Scheduled Income
$90,960
Total Monthly Income
$7,580
Insurance Expenses
$2,984
Water/Sewer/Garbage Expenses
$9,151
Gross Rent Multiplier
21.16
Total Expenses
$29,171
Cap Rate
3.2
Total Number of Units
6
Unit Name
506 -508
Potential Terms
Cash Out, Conventional
Year Built
1968
View
Mountain(s), Partial
Roof
Composition
Site Features
Cable TV, High Speed Internet, RV Parking
Electric Expenses
1640
Other Expenses
1600
Energy Source
Electric
School District
Sumner-Bonney Lake
Elementary School
Buyer To Verify
Middle School
Sumner Middle
High School
Sumner Snr High
Total Monthly Income
$7,580
Gross Scheduled Income
$90,960
Gross Adjusted Income
$90,960
Tax Year
2022
Insurance Expense
$2,984
W/S/G Expenses
$9,151
Total Expenses
$29,171
Net Operating Income
$61,789
Gross Rent Multiplier
21.16
Cap Rate
3.2
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

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