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116 173rd Street S Spanaway, WA $ 3,200,000
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$ 3,200,000 Get more info
116 173rd Street S
$ 3,200,000
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116 173rd Street S

Spanaway, WA, 98387
$ 3,200,000
Baths0.0 Sq 12,692

Monthly Estimate*

$ 19,964

Listed by John L. Scott, Inc.
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Studio

Multi-Family Home for sale in Spanaway, WA

for $3,200,000. This 12,692 square foot home was built in 1968 on a lot size of 0.7465.

Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units include electrical panels & water tanks. Several units have been upgraded with modern finishes: cabinets, countertops, appliances, trim & flooring. Additional features include, coin-operated laundry facility, 13 individual garage spaces, 5 storage units, rare & valuable amenities. Long-term tenants ensure steady cash flow, with units turning over quickly when they become available. Conveniently located to schools, shopping, JBLM & outdoor recreation, this is a prime opportunity to invest in a well-maintained property with long-term potential.

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Multi-Family Active

Price

$ 3,200,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 23,023

Style

10+ Units

Lot Size

0.7465

Year Built

1968

Town/City

Spanaway

County/Region

Pierce

MLS | Web ID

2287714
Features
General
Living Area 0
Sewer Septic Tank
Heating Baseboard
Cooling None
Possession Closing
Roof Composition
HOA Fee 0
Year Built 1968
View Mountain(s)
Property Subtype Multi Family
Tax Year 2024
County Pierce
Net Operating Income 176353
Insurance Expense 8619
New Construction N
Property Type Residential Income
HOA N
Subdivision Name Lake Park
Possible Use Multi-Family Residential
Special Listing Conditions None
Status Active
Directions From Hwy 512 head South on Pacific Ave(Hwy7) Left of 173rd to complex on the right.
High School Spanaway Lake High
City Spanaway
Senior Community Y/N N
High School District Bethel
Zoning Description Multi-Family Residential
Open Parking Spaces 25
Number Of Units Total 13
MLS Area 99 - Spanaway
Lot Size Units Square Feet
Lot Size Square Feet 32518
Carport Spaces 0
Carport Y/N N
Listing Terms Cash Out Conventional
Elementary School Thompson Elem
Tax Annual Amount 23023
Electric Expense 2327
Fuel Expense 0
Middle/Junior High School Spanaway Jnr High
Property Condition Good
Public Remarks Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint new decking & updated septic risers. Recent updates for all units
Leasable Area 11650
Structure Type Multi Family
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Amenities Coin Op Laundry Storage
Water Company Spanaway
Units Below Grade false
Units In Building Total 13
Water Sewer Garbage 10206
Property Style 56 - 10+ Units
Cap Rate 5.5
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Exterior
Exterior Amenities Wood Wood Products
Lot Features Alley
Water Source Public
Total Parking 37
Foundation Details Poured Concrete
Building Area Total 12692
Lot Dimensions 203'x152'
Lot Size Acres 0.7465
Waterfront Y/N N
Covered Spaces 12
Irrigation Water Rights Y/N N
Parking Uncovered Spaces 25
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Interior
Flooring Vinyl Carpet
Total Fireplaces 0
Total Stories 2
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Bedrooms Possible 0
Power Production Type Electric
Baths Three Quarter Upper 0
Bedrooms Upper 0
Baths Half Upper 0
Baths Full Upper 0
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Internal Only
OriginalMLSID NWM2287714
Street Number 1 116
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* Excluded Features
List By
Cooper Carlson

Listing Agent

John L. Scott, Inc.

Broker

Affordability Calculator

$21,882
Per Month
91%
9%
0%
Monthly Principal & Interest
$19,964
Monthly Property Taxes
$1,919
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2925210 Elementary School
258869 Middle School
Spanaway Lake High High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
9/7/2024$3,200,000 Listed Price

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116 173rd Street S, Spanaway, WA, 98387 is a Multi-Family Home for sale at $3,200,000 with 12,692 sqft and a lot size of 0.7465. 116 173rd Street S is a studio with 0.0 baths and was built in 1968. The property's zip code is 98387 which is in Spanaway, WA

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