3118 Morrison Rd W #A-D

University Place, WA 98466
$1,450,000

Description

Effective 11/1, NEW Cap Rate of 5.3%. Amazing opportunity to own this tenant-occupied 4-plex in University Place! Ideally located in the highly desired UP School District & walkable to shopping & transit. Each 3-bed, 1.75 bath unit has an identical layout & includes an open kitchen w/ eating space, separate dining area, spacious living room w/ fireplace, laundry area, a covered deck w/ storage, plus all appliances are included. Tenants love the unique layout that offers extra privacy via a separate hall to the master suite w/ attached bath. Outside find plenty of parking including 4 covered spots & large common area. Units have been fully occupied for 8 years, all tenants current & no vacancies. Rents increase to $2,030/month on 11/1/2021.

  • Interior Details
    • Heating & Cooling
      • Heating:Wall
  • Property Details
    • Property
      • View:Territorial
      • Stories:2
      • Lot description:Paved
      • Exterior features:Cable TV,Deck,Fenced-Partially
      • Exterior materials:Wood, Wood Products
    • Measurements
      • Acres:0.38
      • Square Feet:4704
  • Construction Details
    • Type & Style
      • Property type:Investment
      • Architectural style:54 - 4-Plex
    • Condition
      • Year built:1988
    • Material information
      • Foundation:Poured Concrete
  • Utilities / Energy Details
    • Utility
      • Sewer information:Sewer Connected
      • Utility source:Public
      • Utility features:Cable Connected, Sewer Connected, Electricity Available, Wood
  • Community and Neighborhood Details
    • Location
      • School district:University Place
      • Elementary School:Buyer To Verify
      • Middle School:Buyer To Verify
      • High School:Buyer To Verify
      • County:Pierce
    • Community
      • Subdivision:University Place
  • Financial Details
    • Pricing Details
      • Original list_price:$1,450,000
      • Selling office_commission:2.5
      • Annual taxes:$11,220
  • Other
    • Source
      • MLS #:1824480

Location

Karen SorensenReal Estate Broker
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