12231 12233 117TH AVE E PUYALLUP...12231 12233 117TH AVE E PUYALLUP 4 CASH FLOW INCOME 2018 CURRENT (2019) Rent 79,500 85,980 Other Income (Washer & Dryer Lease) 528 605.86 Vacancy

12231 - 12233 117th Ave EPuyallup, WA

MULTIFAMILY 4,864SF

98%OCCUPANCY

$1,275,000

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www.commercialadvantagerealestate.com

12231 - 12233 117TH AVE E PUYALLUPwww.commercialadvantagerealestate.com

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EXCLUSIVELY LISTED BY

Lambros PolitisCommercial Advantage Real [email protected]@gmail.comLicense # WA 26377

FOR MORE DETAILS, VISIT:



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OFFERING SUMMARY

Fully stabilized, turnkey asset with robust returns as-is, with additional upside potential upon turnover (7% rent increase). Or, in the alternative, bump rents by roughly 15% with minimal capital expenditures. Long-term investment opportunity w/ “Urban Village” zoning allow for additional density - build up to 4 more units (buyer to verify). These two 4-plexes, situated at the foot of scenic Mt. Rainier, have been well cared for and each unit has been meticulously well maintained.

Ten miles east of Tacoma and approximately 35 miles south of Seattle, Puyallup has gained prominence as a regional commercial center for eastern Pierce County. Puyallup continues to serve its residents with a strong, diversified economy. The city boasts cine-mas, restaurants, a 2-year community college, parks and recreation, good K-12 schools, nice residential districts and much more. *Do NOT disturb tenants, unaware of sale.* No showings/tours without offer submitted.


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CASH FLOW

INCOME 2018 CURRENT (2019)

Rent 79,500 85,980

Other Income (Washer & Dryer Lease)

528 605.86

Vacancy & Collection Loss (1,600.56) (1731.72)

Effective Gross Income 78,427.44 84,854.14

EXPENSES 2018 CURRENT (2019)

Legal, Landscape, Contract Labor 1,265 1,427

Garbage 1,953 2,065

Insurance 1,367 1,171

Repairs & Maintenance 2,209 3,219

Property Taxes 8,404 8,206

Utilities (Water) 2,564 2,609

Total Operating Expenses 17,762 18,697

NET OPERATING INCOME 60,665.44 66,157.14


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PROPERTY DETAILS

ADDRESS12231 - 12233 117th Ave E

Puyallup, WA 98374

PROPERTY TYPE Multifamily

NUMBER OF UNITS 8

SQUARE FEET 4,864

OCCUPANCY 98%

SITE AREA 19,166 (0.44 acres)

YEAR BUILT 1976

PARKING On site

OWNERSHIP INTEREST Fee Simple

ZONING Moderate Density Single Family

BUILDING COUNT / STORIES 2 Buildings / 1 Story


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EXCLUSIVELY LISTED BY

Lambros PolitisCommercial Advantage Real [email protected]@gmail.comLicense # WA 26377

FOR MORE DETAILS, VISIT:


Documents

12231 12233 117TH AVE E PUYALLUP...12231 12233 117TH AVE E PUYALLUP 4 CASH FLOW INCOME 2018 CURRENT (2019) Rent 79,500 85,980 Other Income (Washer & Dryer Lease) 528 605.86 Vacancy