Bought with Kidder Mathews
$4,700,000
$5,000,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
0.97 Acres Lot
SOLD DATE : 07/23/2021
Key Details
Sold Price $4,700,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Parkland
MLS Listing ID 1730648
Sold Date 07/23/21
Style 56 - 10+ Units
Year Built 1988
Annual Tax Amount $45,219
Lot Size 0.966 Acres
Lot Dimensions 42100
Property Description
Constructed in 1988, Sherwood Terrace consists of four two-story wood framed residential buildings spread across a roughly 1-acre parcel. This 24-unit complex holds spacious 2-bedroom, 1-bath and 2-bedroom, 1.5 bath layouts averaging ±932 SF. Meticulously maintained and self-managed, this unique offering is being offered to investors for the first time in 15+ years. Primed for renovation, this value-add opportunity offers significant rental upside as rents are currently below market, and majority of homes (83%) are ripe for renovation to capture additional rent premiums. Sherwood Terrace presents and ideal first-generation value-add opportunity through maximizing operations with professional management, and interior renovations.
Location
State WA
County Pierce
Area 63 - Parkland
Interior
Interior Features Forced Air
Flooring See Remarks
Fireplace false
Exterior
Exterior Feature Cement Planked
Utilities Available Sewer Connected, Electric
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Tacoma
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
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