Heather Court

12720 C St S Tacoma WA 98444

Listing #: 591646 | Status: New | Last Modified: 11/15/2017 |

For Sale

12720 C St S Tacoma WA 98444

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Tyler Smith

(206) 505-9425
tylersmith@westlakeassociates.com

Steve Fischer

(206) 505-9435
fischer@westlakeassociates.com

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Price
Listing Price$ 4,395,000
$/SF$ 221.52
$/Unit$ 137,343.75
Listing StatusNew
Days On Market15
Asset ClassMulti-Family
Investment Information
Investment PropYes
Gross Income$ 439,284
Vacancy Factor %5.00%
Operating Expenses$ 152,132
Net Operating Income$ 265,187
CAP Rate6.0 %
GRM11.38
Multi-Family Asset Class General Information
Common LaundryYes
Annual Expense Information
Expense Year2017
Real Estate Taxes$ 27,805
+Insurance$ 5,900
+Electricity$ 11,804
+Water/Sewer$ 30,661
+Prof. Mgr$ 20,868
+Res. Mgr$ 15,000
+Maintenance$ 24,000
+Other Expenses$ 16,094
=Total Exp.$ 152,132
Annual Operating Information
Gross Sch Rents$ 386,340.00
Vacancy $$ 21,966.00
Vacancy %5.00%
+Laundry Income$ 4,980
+Parking Income$ 1,440
+Other Income$ 46,560
=Effective Gross$ 417,354
-Total Expenses$ 152,132
=NOI$ 265,222
Financial Summary
CAP Rate6.0 %
GRM$ 11.38
$/Unit$ 137,343.75
Expense/Unit$ 4,754.13
Asset Class Information
# Units Beds/Baths Avg SqFT
16 1Bed/1Bath 600
16 2Bed/1Bath 750
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings4
# of Floors2
# of Units32
Total Building Sq/ft19,840
Net Rentable Area19,840
Lot Sq/ft41,818
Acres0.96
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyPierce
VicinityParkway/Spanaway
Market AreaParkland/Midland
Tax ID #6762001096
Additional Parcels6762001063
ZoningSF
Construction
Year Built1971

Public Comments: Remarks Heather Court is a fully renovated 32-unit apartment complex blocks from the PLU campus. Interior upgrades include new paint, flooring, mill work, doors, hardware, lighting and electrical panels. In addition, the 2 bedrooms offer brand new cabinets, quartz counters and stainless appliances. The exterior has new paint, composition roof, sealed/striped parking lot and manicured landscaping. The turnkey asset is currently operating at a 6.02% Cap rate with good upside in the rents bringing it to a 6.39% market Cap

Showing Instructions: Call Listing Office; by appointment.

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