5011 157th Ave CT E
Sumner WA 98390
Salmon Creek Apartments
5011 157th Ave CT E Sumner WA 98390
Listing #: 670100 | Status: Pending | Last Modified: 3/18/2024 |
For Sale
- Phone:(206) 826-5692
- Email:kellan.moll@marcusmillichap.com
- Office Name:Marcus & Millichap, Inc.
- Office Phone:(206) 826-5700
- Office Website:www.marcusmillichap.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 2,250,000.0
- $/SF$ 334.8
- $/Unit$ 2,250,000.0
- Listing StatusPending
- Days on Market275
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income186,509
- Vacancy Factor %5.00%
- Operating Expenses49,523
- Net Operating Income127,660
- CAP Rate 6.09 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 6.09 %
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units8
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF6720
- Net Rentable Area6720
- Total Office SF
- Largest Contiguous SF
- Lot SF23958
- Acres0.55
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building Class
- CountyPierce
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaPuyallup/Sumner
- Tax ID #0520196020
- Additional Parcels
- ZoningLDR-4
- # Covered Spaces0
- # Uncovered Spaces17
- Total Parking Spots17
- Parking Ratio
- Year Built1989
- Year Renovated2022
- Completion Date
- Roof Type
- Construction TypeWood
Salmon Creek Apartments
ASSUMABLE LOAN WITH 4.38% RATE DUE JAN 2030!! The Salmon Creek Apartments is a fully renovated eight-unit apartment building, located at 5011 157th Avenue Court East in Sumner, Washington. The property was originally built in 1989 and is comprised of wood framed construction, a mix of PEX and polybutylene plumbing, copper wiring, T1-11 cedar siding, and a pitched composition roof, which was replaced about 6 years ago with 30-year shingles. Over the past few years current ownership has performed complete high-end interior and exterior renovation of the asset. Exterior renovations included installing all new double vinyl pane windows, improved landscaping, and resurfacing and restriping the parking lot and driveway. The exterior of the property was painted shortly before the current ownershi
All 2 bedroom, with washers & dryers, dishwasher, disposal, thermopane windows.
