601 N K Street, Tacoma, WA 98403

$1,425,000
3,840
SqFt

Listing courtesy of City Closers Real Estate.

List Price
$1,425,000
Status
PENDING
MLS#
2182578
Days on Market
104
Style
53 - Tri-plex
Building Condition
Average
Finished SqFt
3,840
Area Total SqFt
3840
Annual Tax Ammount
4268
Internet Provider
Xfinity
Lot Size (sq ft)
6,500
Sewer
Sewer Connected

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

List Date
2023-11-18 17:40:10
Community
North Tacoma
Net Operating Income
$105,867
Gross Adjusted Income
$103,467
Gross Scheduled Income
$111,600
Total Monthly Income
$9,200
Insurance Expenses
$4,376
Total Expenses
$9,340
Cap Rate
7.42
Total Number of Units
5
Unit Name
601
Potential Terms
Cash Out, Conventional
Year Built
1905
View
Bay, Partial, Sound, Territorial
Roof
Composition
Site Features
Cable TV, Deck, Gas Available, High Speed Internet, RV Parking, Shop
Other Expenses
696
Energy Source
Electric, Natural Gas
School District
Tacoma
Total Monthly Income
$9,200
Gross Scheduled Income
$111,600
Gross Adjusted Income
$103,467
Tax Year
2023
Insurance Expense
$4,376
Total Expenses
$9,340
Net Operating Income
$105,867
Cap Rate
7.42
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