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Listed by Blake Investment Advisors
$3,530,000
Est. payment /mo
28 Beds
16 Baths
12,680 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,680 sqft
Price per Sqft $278
Subdivision Sumner
MLS Listing ID 2389683
Style 56 - 10+ Units
Bedrooms 28
Year Built 1968
Annual Tax Amount $27,643
Lot Size 1.161 Acres
Property Sub-Type Multi Family
Property Description
6.05% Current Cap Rate | Sumner Park offers investors a prime opportunity to capitalize on the Sumner sub-market's robust rental market, projected to experience steady growth in 2025 and beyond, with minimal capital expenditure required. This 12,680-square-foot, 16-unit multifamily property is newly renovated, ensuring low immediate maintenance costs and strong tenant appeal. With an average market rent in Sumner of $1,841 as of May 2025, reflecting a 23.8% increase since 2020, the property is well-positioned to deliver consistent cash flow and long-term appreciation. Situated on a 50,560 square foot lot, future development opportunities exist to develop 29 units or 28 townhomes. Buyer to verify.
Location
State WA
County Pierce
Area 73 - Sumner
Interior
Flooring Vinyl Plank
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Sumner-Bonney Lake
Others
Senior Community No
Acceptable Financing Cash Out
Listing Terms Cash Out
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