800 S 216th St | Des Moines, WA 98198
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- LoopNet Team
800 S 216th St
Des Moines, WA 98198
Landmarc IV · Multifamily Property For Sale
·
7 Units
INVESTMENT HIGHLIGHTS
- Value Add Opportunity: Will be available to capture significant rental upside through renovations
- Short Drive to Downtown Seattle or Tacoma: 20-minute drive to Downtown Seattle or Tacoma
- Attractive Going in Cap: Attractive going in cap rate with ability to stabilize at north of 7% cap rate after renovations
- Ample Parking For Residents: Off Street parking for each tenant and 3 guest spots
- Rare Opportunity: Going in basis below $200k per unit in Des Moines
- Prime Location in heart of Des Moines: Blocks from Downtown Des Moines and Marine Drive.
PROPERTY FACTS
| No. Units | 7 | Building Size | 4,450 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1974 |
| Building Class | C | Parking Ratio | 2.06/1,000 SF |
| Lot Size | 0.30 AC | ||
| Zoning | RM 1800, Des Moines | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,450 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1974 |
| Parking Ratio | 2.06/1,000 SF |
| Zoning | RM 1800, Des Moines |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 600 |
| 2+1 | 1 | - | 700 |
PROPERTY TAXES
| Parcel Number | 082204-9162 | Improvements Assessment | $932,000 |
| Land Assessment | $250,000 | Total Assessment | $1,182,000 |
PROPERTY TAXES
Parcel Number
082204-9162
Land Assessment
$250,000
Improvements Assessment
$932,000
Total Assessment
$1,182,000
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