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5303 Parker Rd E
Sumner, WA 98390 Outlying Puyallup

$3,530,000 USD

Apartments For Sale • 11,770 SF

Property Details

Property Type Apartments
Total Building Size 11,770 SF
Lot Size 1.16 AC
Building Class C
Year Built 1968
Cap Rate 6.05 %
Zoning SUM, Pierce

0 Transit Score

54 Walk Score

                
                    Highlights
                
                                Comprehensively Renovated Asset: A thoughtful interior and exterior renovation allows a new investor to acquire an asset with no deferred maintenance,
                            
                                Immediate Cash Flow: Current Cash on Cash Return of 6.56% yielding $71,495 annually.
                            
                                Opportunity to add Washers and Dryers: Boosting Cash on Cash return to 8.08%, yielding $100,203 annually.
                            
                                Outsized Return Potential: End of Year 5 Levered Yield of 20.85%
                            
                                Covered Land Play Opportunity: 50,560 square foot piece of ground zoned High Density Residential with opportunity to build 29 units or 28 townhomes or

Property Flyers

Offering Memorandum - Sumner Park

Cap Rate:

6.05 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Sumner Park Apts.

Public Transportation

Commuter Rail	Drive	Walk	Distance
Sumner Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder))	5 min	-	1.5 mi
	5 min	-	1.6 mi
Airport	Drive	Walk	Distance
Seattle-Tacoma International	39 min	-	21.3 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	32
Type:	Surface
Included in Rent:	Yes

Research In Progress Research In Progress

5303 Parker Rd E Sumner, WA 98390 Outlying Puyallup