7522 28th Street W, University Place, WA 98466

$1,200,000

Listing courtesy of Better Properties UP/Fircrest.

List Price
$1,200,000
Status
ACTIVE
MLS#
1941934
Days on Market
124

Property Description

Exceptionally well maintained owner/user or investment property in desirable University Place just off Bridgeport Way. Zoned MU-N 45, there are nine private offices, a kitchen, and two bathrooms. Best possibilities for the 2,852 SF building include micro offices with common reception, live/work environment, or possible duplex/triplex buildout. 1,800 SF of six self storage units range in size from 120 SF to 720 SF. They are heated and feature a 10' ceiling with metal rollup doors. The third 384 SF building is currently rented as a pottery shop, could easily be converted into a studio apartment with water, sewer, gas, and electricity. Current tenants rents below market with upside potential. Owner financing opportunity, call for details.

Additional Information

Community
University Place
Style
73 - Office
Year Built
1904
# of Assigned Spaces
13
Roof
Composition
Tax Year
2021
Potential Terms
Cash Out, Conventional, Owner Financing, See Remarks
Interior Features
Hardwood, Wall to Wall Carpet
Flooring
Hardwood, Vinyl, Carpet
Driving Directions
From WA-16, take exit 2B for N Orchard/S 19th. Right onto S 19th St. Left on Bridgeport. Right on 28th St W. Property on the left.
Heating/Cooling Type
Baseboard
Other Expenses
4930
Energy Source
Electric
Net Operating Income
$81,232
Gross Adjusted Income
$98,610
Gross Scheduled Income
$103,800
Water/Sewer/Garbage Expenses
$4,368
Cap Rate
6.77
Vacancy Rate
5
Total Expenses
$17,378
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