5011 157th Avenue Ct E, Sumner, WA 98390

$2,250,000
6,720
SqFt

Listing courtesy of John L. Scott, Inc.

List Price
$2,250,000
Status
ACTIVE
MLS#
2146905
Days on Market
204
Style
55 - 5-9 Units
Building Condition
Very Good
Finished SqFt
6,720
Area Total SqFt
6720
Annual Tax Ammount
10146
Internet Provider
Xfinity/Comcast
Lot Size (sq ft)
23,958
Sewer
Sewer Connected

Property Description

The Salmon Creek Apartments is a fully renovated eight-unit apartment building, located in Sumner. Over the past few years current ownership has performed complete high-end interior & exterior renovation of the asset. The unit mix consists of all beautiful two bedroom/one-bath units, that are approximately 840SF. The unit features include kitchens w/stainless steel appliances, white hardwood cabinets & quartz countertops. Units also feature a balcony/patio, wood-like tile floors, new carpet in bedrooms, new lighting packages, new paint & trim packages, new 6 panel door packages, sliding barn doors for W/D (included) area & updated baths. Ext renovations included new windows, resurfacing the parking lot (17 stalls) & paint 2018.

Additional Information

List Date
2023-05-19 20:32:15
Community
Sumner Valley
Net Operating Income
$149,822
Gross Adjusted Income
$181,944
Gross Scheduled Income
$191,520
Total Monthly Income
$15,960
Insurance Expenses
$1,983
Water/Sewer/Garbage Expenses
$15,440
Gross Rent Multiplier
12
Total Expenses
$50,066
Cap Rate
6.5
Vacancy Rate
5
Total Number of Units
8
Unit Name
5011
Potential Terms
Assumable, Cash Out, Conventional
Year Built
1989
View
Territorial
Roof
Composition
Site Features
Cable TV, Deck, Fenced-Partially, High Speed Internet, Patio
Other Expenses
22497
Energy Source
Electric
School District
Sumner-Bonney Lake
Total Monthly Income
$15,960
Gross Scheduled Income
$191,520
Vacancy Rate
5
Gross Adjusted Income
$181,944
Tax Year
2023
Insurance Expense
$1,983
W/S/G Expenses
$15,440
Total Expenses
$50,066
Net Operating Income
$149,822
Gross Rent Multiplier
12
Cap Rate
6.5
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