Bought with eLink Realty
$1,600,000
$1,600,000
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2 Beds
2 Baths
5,276 SqFt
SOLD DATE : 10/30/2024
Key Details
Sold Price $1,600,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,276 sqft
Price per Sqft $303
Subdivision Federal Way
MLS Listing ID 2286969
Sold Date 10/30/24
Style 55 - 5-9 Units
Bedrooms 2
Year Built 1976
Annual Tax Amount $15,361
Lot Size 9,604 Sqft
Property Description
Prime Investment Opportunity in Federal Way: Renovated 8-Unit ApartmentThis fully occupied 8-unit apartment is rare. It is located near downtown Federal Way, directly across from Federal Way High School. Each unit has been completely renovated, ensuring modern living spaces that are attractive and easy to maintain. With a strong 6.29% CAP rate, this property promises solid returns on investment. Convenience is key, with the upcoming light rail station just minutes away and within walking distance of the bus stop. Recent upgrades, including a brand-new roof in 2018 and new siding and exterior paint in 2023, mean no deferred maintenance—making it an ideal, hassle-free investment—with low vacancy rates.
Location
State WA
County King
Area 110 - Dash Point/Federal Way
Interior
Fireplace false
Exterior
Exterior Feature Wood Products
Waterfront No
View Y/N No
Roof Type Composition
Building
Sewer Available
Water Public
New Construction No
Schools
School District Federal Way
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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