Bought with The Foundation Group LLC
$825,000
$850,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
8324 Orchard ST SW Lakewood, WA 98498
3,108 SqFt
Key Details
Sold Price $825,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,108 sqft
Price per Sqft $265
Subdivision Tillicum
MLS Listing ID 1935439
Style 55 - 5-9 Units
Year Built 1925
Annual Tax Amount $6,784
Lot Size 0.422 Acres
Property Description
Orchard Apts is a 6.29% CAP Rate on current income. This 7 unit property is made up of six-1Bed/1Ba & One 2Bed/1ba units of which 6 have been fully renovated. The 5 unit portion was built in 1925 and had all new electrical panels installed in 2019 and a new roof in 2020. The Duplex was built in 1960 and has W/D hookups in each unit and had a new roof put on in 2021. This property is located in an Opportunity Zone for additional tax advantages. There is also a large secure gated portion of the lot which could be used for additional income.
Location
State WA
County Pierce
Area 41 - Lakewood/Tillicum
Interior
Flooring See Remarks
Exterior
Exterior Feature See Remarks
Utilities Available Septic System, Electric
Waterfront No
View Y/N Yes
View See Remarks
Roof Type Composition
Building
Lot Description Corner Lot, Paved, Sidewalk
Sewer Septic Tank
New Construction No
Schools
School District Lakewood
Others
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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