Bought with Westlake Associates, Inc.
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5314 San Francisco AVE SW Lakewood, WA 98499
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Key Details
Sold Price $1,880,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,450 sqft
Price per Sqft $151
Subdivision Lakewood
MLS Listing ID 1392357
Sold Date 04/03/19
Style 56 - 10+ Units
Year Built 1977
Annual Tax Amount $15,335
Lot Size 0.951 Acres
Property Sub-Type Multi-Family
Property Description
Strategically located in an Opportunity Zone near I-5, SR 512, and amenities, LakeAire Apartments is a light value-add 25-unit Apt property in Lakewood WA. Part of the lot can support additional units, or can be subdivided and sold. LakeAire Apts, priced at $74k/unit with a current 6.3% cap, 7%cap by raising older rents to match current unit rents, will not only benefit from Lkwd and Pierce Co's expected growth, but also from anticipated district investments as a result of the Opp. Zone program.
Location
State WA
County Pierce
Area 40 - Lakewood
Interior
Interior Features Wall to Wall Carpet, Laminate Hardwood
Flooring Laminate, Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Cement Planked, Wood
Utilities Available Cable Connected, Sewer Connected, Electric
Amenities Available Cable TV, Fenced-Partially, Patio
View Y/N No
Roof Type Composition
Building
Lot Description Paved
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Tyee Park Elem
Middle Schools Lochburn Mid
High Schools Clover Park High
School District Clover Park
Others
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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