Spanaway, WA 98387 116 173rd Street S

$3,200,000

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Presented By: John L. Scott, Inc. and NWMLS
  • Northwest Multiple Listing Service (NWMLS) - 21 - WA
  • MLS# 2287714
  • 09/06/2024
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Disclaimer: The information contained in this listing has not been verified by kvCORE WordPress Staging and should be verified by the buyer.
  • SQFT • 12,692

Home Details

Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units include electrical panels & water tanks. Several units have been upgraded with modern finishes: cabinets, countertops, appliances, trim & flooring. Additional features include, coin-operated laundry facility, 13 individual garage spaces, 5 storage units, rare & valuable amenities. Long-term tenants ensure steady cash flow, with units turning over quickly when they become available. Conveniently located to schools, shopping, JBLM & outdoor recreation, this is a prime opportunity to invest in a well-maintained property with long-term potential.
Presented By: John L. Scott, Inc. and NWMLS

Interior Features for 116 173rd Street S

Bedrooms

Bedrooms Possible0
Bedrooms Upper

Bathrooms

Baths Full Upper0
Baths Half Upper
Baths Three Quarter Upper

Other Interior Features

Air Conditioning Y/NNo
Fireplace Y/NNo
FlooringVinyl, Carpet
Heating Y/NYes
Power Production TypeElectric
Total Fireplaces
Total Stories2

General for 116 173rd Street S

AmenitiesCoin Op Laundry, Storage
Building Area UnitsSquare Feet
Cap Rate5.5
Carport Spaces
Carport Y/NNo
CitySpanaway
CoolingNone
CountyPierce
DirectionsFrom Hwy 512 head South on Pacific Ave(Hwy7), Left of 173rd to complex on the right.
Electric Expense2327
Elementary SchoolThompson Elem
Fuel Expense
HOANo
HOA Fee$
HeatingBaseboard
High SchoolSpanaway Lake High
High School DistrictBethel
Insurance Expense8619
Leasable Area11650
Listing TermsCash Out, Conventional
Living Area UnitsSquare Feet
Lot Size Square Feet32518
Lot Size UnitsSquare Feet
MLS Area99 – Spanaway
Middle/Junior High SchoolSpanaway Jnr High
ModificationTimestamp2025-03-31T23:43:10.818Z
NWM_ShowMapLinkY
Net Operating Income176353
New ConstructionNo
Number Of Units Total13
Open Parking Spaces25
PossessionClosing
Possible UseMulti-Family, Residential
Property ConditionGood
Property Style56 – 10+ Units
Property SubtypeMulti Family
Property TypeResidential Income
Public RemarksImpeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units
RoofComposition
Senior Community Y/NNo
SewerSeptic Tank
Special Listing ConditionsNone
Standard StatusActive
StatusActive
Structure TypeMulti Family
Subdivision NameLake Park
Tax Annual Amount23023
Tax Year2024
Units Below Gradefalse
Units In Building Total13
ViewMountain(s)
Water CompanySpanaway
Water Sewer Garbage10206
Year Built1968
Zoning DescriptionMulti-Family, Residential

Exterior for 116 173rd Street S

Building Area Total12692
Covered Spaces12
Exterior AmenitiesWood, Wood Products
Foundation DetailsPoured Concrete
Irrigation Water Rights Y/NNo
Lot Dimensions203’x152′
Lot FeaturesAlley
Lot Size Acres0.7465
Parking Uncovered Spaces25
Total Parking37
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Schools

High School Spanaway Lake High
Middle School Spanaway Jnr High
Elementary School Thompson Elem

Josh QA1

REALTOR ® SRES ®
Price $3,200,000
MLS#2287714
List Date 09/06/2024
Property Type Multi-Family
Phone 925.123.4567
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Request Info
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