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234 S 70th St 5 Unit Apartment Building $2,260,000 ($452,000/Unit) 5.80% Cap Rate Tacoma, WA 98408
INVESTMENT HIGHLIGHTS
- Turnkey fiveplex with strong cash flow performance
- Nine years of tax abatement remaining; land-only tax basis
- No HOA and no-maintenance building structure
- Prime location near Fred Meyer, Wapato Park, and retail
EXECUTIVE SUMMARY
Very unique opportunity for investors.Turnkey investment, fairly new with great cash flow. Assumable loan of 4.4%. 9 years left on tax exemption. Fiveplex ready to transfer. Town house style, with two covered parking space for each unit. Each town home is three story with 2 beds and 2.5 bath. 2 primary bedrooms with full baths and another half bath, 2 car tandem garages & open concept kitchen/family rooms with powder room for guests. Walking distance to Fred Meyer and short distance to Wapato park and stores. No maintenance building makes this property a very attractive low maintenance investment. NO HOA. Nine years of tax abatement left on the building. Taxes are based off land only. You won’t regret this.
Showing can be arranged upon mutual agreement. Tenants not aware of listing. Please do not disturb.
Showing can be arranged upon mutual agreement. Tenants not aware of listing. Please do not disturb.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$144,000
|
$24.57
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$144,000
|
$24.57
|
| Taxes |
$2,840
|
$0.48
|
| Operating Expenses |
$17,708
|
$3.02
|
| Total Expenses |
$20,548
|
$3.51
|
| Net Operating Income |
$123,452
|
$21.07
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $144,000 |
| Annual Per SF | $24.57 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $144,000 |
| Annual Per SF | $24.57 |
| Taxes | |
|---|---|
| Annual | $2,840 |
| Annual Per SF | $0.48 |
| Operating Expenses | |
|---|---|
| Annual | $17,708 |
| Annual Per SF | $3.02 |
| Total Expenses | |
|---|---|
| Annual | $20,548 |
| Annual Per SF | $3.51 |
| Net Operating Income | |
|---|---|
| Annual | $123,452 |
| Annual Per SF | $21.07 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Double Pane Windows
- Family Room
- Quartz Countertops
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 5 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 661500-2311 | Total Assessment | $1,623,800 (2025) |
| Land Assessment | $267,000 (2025) | Annual Taxes | $2,840 ($0.48/SF) |
| Improvements Assessment | $1,356,800 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
661500-2311
Land Assessment
$267,000 (2025)
Improvements Assessment
$1,356,800 (2025)
Total Assessment
$1,623,800 (2025)
Annual Taxes
$2,840 ($0.48/SF)
Tax Year
2024
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234 S 70th St
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