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7902 27th St W
University Place, WA 98466

$3,300,000 USD

Apartments For Sale  •  23,000 SF

Property Details

  • Property Type Apartments
  • Total Building Size 23,000 SF
  • Lot Size 0.63 AC
  • Building Class B
  • Year Built 1961
  • Zoning MU
30 Transit Score
60 Walk Score

Highlights

6.23% In-Place Cap Rate: $205,512 of net operating income on a $3,300,000 offering price. Stabilized cash flow on day one.
Below-Market Residential Rents: Apartment rents trail the market by approximately 6.5%.
Two Distinct Income Streams: Ten apartments and nine commercial suites reduce reliance on any single tenant type and provide income stability
Attractive Basis: Offered at $173,684 per unit and $214 per rentable square foot, below recent University Place multifamily sale comparables
Functional Site and Parking: A 27,600 square foot lot with 38 surface parking spaces, supporting both residential and commercial tenancy

Property Flyers

Amenities

  • Heating
  • Kitchen
  • Range
  • Carpet

Public Transportation

Commuter RailDriveWalkDistance
11 min - 4.7 mi
Tacoma Dome Station (Sounder South Line - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder), Tacoma Link - Central Puget Sound Regional Transit Authority Rail (Link Light Rail/Sounder)) 14 min - 6.9 mi
AirportDriveWalkDistance
Seattle-Tacoma International 45 min - 27.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 38
Type: Surface
Included in Rent: Yes
Steve Fischer 425-830-2254 Northmarq
Steve Fischer 425-830-2254 Northmarq