601 N K Street, Tacoma, WA 98403

$1,425,000

Listing courtesy of City Closers Real Estate.

List Price
$1,425,000
Status
PENDING
MLS#
2180621
Days on Market
440
Annual Tax Ammount
4268
Internet Provider
Comcast

Property Description

Investors! Capitalize on this high-performing, turnkey building in North End Tacoma. This is a 100% leased asset where the commercial anchor tenant (66 years in business) has a new 20-year NNN lease with 3% annual increases! Actual Cap Rate is 7.42%. Potential for value add by building units in the rear of the property with alley access. This corner property has water views from the 3rd floor and it's located in one of the most prized neighborhoods of Tacoma. The main commercial tenant's space was completely renovated in 2019. The building has three commercial spaces occupied by one commercial tenant and three residential apartments with eight off-street parking spots. Near to the new rail system, medical, retail, restaurants & parks.

Additional Information

Community
North Tacoma
Building Condition
Average
Style
75 - Retail
Year Built
1905
# of Assigned Spaces
8
Roof
Composition
Tax Year
2023
Potential Terms
Cash Out, Conventional
Interior Features
Ceramic Tile, Laminate, Wall to Wall Carpet
Flooring
Ceramic Tile, Laminate, Vinyl Plank, Carpet
Driving Directions
GPS is accurate.
Other Expenses
696
Energy Source
Electric, Natural Gas
Buyer Agency Compensation
3
Net Operating Income
$105,867
Gross Scheduled Income
$111,600
Cap Rate
7.42
Total Expenses
$9,340
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright. Data last updated at .

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks