20012-& 20014 1st Place SW $799,999

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    20012-& 20014 1st Place SW Normandy Park, WA 98166

    • 0 Beds
    • 0 Baths
    • 3,490 sq.ft.
    • Multi-Family
    Listing# 1485151 | Active

    $799,999

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    Days On Market: 73 0 Views
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    Property Details

    Fully rented triplex with 0% vacancy in last 5 years. Numbers based on actual rents and expenses from 2018. Market rent for units are $1,800, $1,800, $1,500. Additional income could be generated from utility bill back of $50/unit bringing stabilized Cap Rate to 5.5%.Stand alone cottage features an additional 650 sqft basement with 3/4 bath.Ideal workshop or storage unit.Parcel comes w/ fractional ownership rights to 18 ac Normandy Park Cove. All tenants are month to month.Do not disturb tenants.

    • General Features
      • County King
      • Style 53-Tri-plex
      • Number of Stories 2
      • Number of Units 3
      • Year Built 1982
      • Lot Details Alley, Corner Lot, Cul-de-sac, Dead End Street, Paved Street
      • Lot Square Footage 10,350
      • Site Features Cable TV, Deck, Fenced-Partially, Patio, RV Parking, Shop
      • County King
    • Building Features
      • Approx SqFt 3,490
      • Roof Compostion
      • Exterior Wood
      • Amenities Basement
      • Floor Covering Vinyl, Wall to Wall Carpet
    • Financials
      • Total Monthly Income $3,865
      • Net Operating Income $31,157
      • Gross Scheduled Income $46,645
      • Gross Adjusted Income $46,645
      • Total Expenses $15,488
      • Other Expenses $3,600
      • Insurance Expenses $1,957
      • Expenses $15,488
      • Heating Expenses $0
      • Electrical Expenses $0
      • Gross Rent Multiplier 18
    • Utilities and Taxes
      • Tax Year 2018
      • Tax Amount $8,016
      • Energy Source Electric
      • Heating and Cooling Baseboard
      • Water Company Highline
      • Sewer Company Sewer Connected
    • Schools
      • School District Highline
      • Senior High Mount Rainier High
      • Junior High Pacific Mid
      • Elementary School Marvista Elem

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    Neighborhood

    98166 (Normandy Park) Demographics

    43Median Age
    3,705Population Density (per sq. mile)
    49%College Educated
    $66,435 Estimated Median Income
    5,385Estimated Total Home Owners
    2,987Estimated Total Renters
    64% / 36%Estimated Owner / Renter Divide
    2Estimated Average Household Size
    21,018Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $525,000 Median Sales Price
    25 Homes Sold
    0 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $799,999
        9/18/2019 10:01:21 AM Price Reduced Source New Value: $799,999 -3.61%
        8/26/2019 10:01:00 AM Price Reduced Source New Value: $830,000 -2.24%
        7/6/2019 1:31:00 PM New in Database Source New Value: $849,000

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        This property search is part of the Reliance Network website. Listing information is courtesy of the WA-NWMLS and Reliance Network. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2019. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.