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34007 1st Cir S - Panther Lake Apartments 6 Unit Apartment Building Offered at $1,395,000 at a 6.04% Cap Rate Federal Way, WA 98003
Investment Highlights
- Well Located
- Exterior Renovation
Executive Summary
Renovated Units: 3 of 6 units are fully renovated, with one being turned, and 2 remaining classic. In-Unit Washer & Dryer: All units are equipped with in-unit laundry. Hands Free Investment: Community has in place professional management and HOA. Monthly HOA dues include water, sewer, garbage, landscaping and common area maintenance. Large Community: Part of a larger community with on-site management, on-site maintenance, playground, tennis courts, and other community amenities. Exterior Renovation: New exterior paint and new exterior windows and sliders. Well Located: Only 1.5 miles from I5 allowing residents convenient access to Tacoma (11 mi), Seattle (25mi), and the rest of the Puget Sound Region. Attractive Basis: Listed above a 6% cap rate for $233,000 per unit and $233 per square foot.
Property Facts
| Price | $1,395,000 | Building Class | C |
| Price Per Unit | $232,500 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 6.04% | No. Stories | 3 |
| No. Units | 6 | Year Built | 1979 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM2400 - Residential | ||
| Price | $1,395,000 |
| Price Per Unit | $232,500 |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| No. Units | 6 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 6,000 SF |
| No. Stories | 3 |
| Year Built | 1979 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | RM2400 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 1,000 |
1 1
Property Taxes
| Parcel Number | 132202-0360 | Improvements Assessment | $1,037,000 |
| Land Assessment | $270,000 | Total Assessment | $1,307,000 |
Property Taxes
Parcel Number
132202-0360
Land Assessment
$270,000
Improvements Assessment
$1,037,000
Total Assessment
$1,307,000
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34007 1st Cir S - Panther Lake Apartments
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