5303 Parker Rd E | Sumner, WA 98390
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5303 Parker Rd E
Sumner, WA 98390
Sumner Park Apartments · Multifamily Property For Sale
·
16 Units
Investment Highlights
- Comprehensively Renovated Asset: A thoughtful interior and exterior renovation allows a new investor to acquire an asset with no deferred maintenance,
- Opportunity to add Washers and Dryers: Boosting Cash on Cash return to 8.08%, yielding $100,203 annually.
- Covered Land Play Opportunity: 50,560 square foot piece of ground zoned High Density Residential with opportunity to build 29 units or 28 townhomes or
- Immediate Cash Flow: Current Cash on Cash Return of 6.56% yielding $71,495 annually.
- Outsized Return Potential: End of Year 5 Levered Yield of 20.85%
Property Facts
| No. Units | 16 | Lot Size | 1.16 AC |
| Property Type | Multifamily | Building Size | 11,770 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1968 |
| Building Class | C | Parking Ratio | 2.72/1,000 SF |
| Zoning | SUM, Pierce | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.16 AC |
| Building Size | 11,770 SF |
| No. Stories | 1 |
| Year Built | 1968 |
| Parking Ratio | 2.72/1,000 SF |
| Zoning | SUM, Pierce |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 750 |
| 2+1 | 14 | - | 900 |
Property Taxes
| Parcel Number | 052019-2095 | Improvements Assessment | $1,027,000 |
| Land Assessment | $1,218,700 | Total Assessment | $2,245,700 |
Property Taxes
Parcel Number
052019-2095
Land Assessment
$1,218,700
Improvements Assessment
$1,027,000
Total Assessment
$2,245,700
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