Provided by NWMLS, Bought with ZNonMember-Office-MLS and Listed by Westlake Associates, Inc.
Sold
14117 C Street S
Tacoma WA, 98444
$6,075,000
$297.79 per sqft
Sold
20,400 sqft
Multi-family
Built in 1972
Hudson Court provides an opportunity to acquire a fully renovated building in a growing developing community just blocks away from Pacific Lutheran University. At the asking price of $5,995,000, the underwriting poses an in-place 5.11% cap rate with a market cap rate of 5.68% on current asking rents. The average 1x1 is in-place at $1084, however most recent 1x1 have rented for $1225. The average 2x1 sits at $1280 with the most recent rent being $1395. This provides 10% rental upside on the proven most recent leasing activity. There is also the opportunity to further pursue the feasibility of adding laundry to the units. Adding laundry demonstrates possible upside of 25%-40% rental upside!
1852841
MLSⓇ ID
October 13, 2021
Listed
May 9, 2024
Updated
Map
14117 C Street S
Tacoma WA, 98444
Interior Features
Total Stories
2
Interior Features
Wall to Wall Carpet
Floor Description
Vinyl Plank, Carpet
Fireplace
No
Cooling
No
Heating
Yes
Exterior/Building Features
Lot Size
1.12 Acres
Exterior Features
Wood
Roof
Composition
Sewer
Sewer Connected
School Information
School District
Tacoma
Other Property Details
Area Name
69 - Parkland
Taxes
$31,296
Tax Frequency
Annually
Garage
No
Parking Total
30
View
No
County
Pierce
Pool
No
The IDX display contains information sourced from the Northwest Multiple Listing Service as of 5/19/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated on 5/19/2024 at 5:00 AM UTC