116 173rd Street South
Spanaway, WA 98387
$3,200,000
Price
25
Beds
13
Baths
12,692 Sq. Ft.
$252 / Sq. Ft.
12,692
Sq. Ft.
$252
per Sq. Ft.
Listing provided courtesy of John L. Scott, Inc.
Description
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...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.
- Listed by Cooper Carlson • John L. Scott, Inc.
Property Details for 116 173rd Street South
Community Name
Lake Park
School DistrictBethel
ViewMountain
Number of Assigned Spaces37
Total Covered Parking12
Entry Date09-06-2024
Energy SourceElectric
SewerSeptic Tank
LISTING UPDATED: 11/13/2024 12:12 PM
Property Details for 116 173rd Street South
| Status | Active |
|---|---|
| MLS # | 2287714 |
| Days on Market | 107 |
| Cumulative Days on Market | 107 |
| Taxes | $23,023 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1968 |
| Lot Size | 0.75 AC / 32,518 SF |
| County | Pierce County |
Building Information for 116 173rd Street South
Stories2Residences13Year Built1968Building Size-Lot Size0.75 AC / 32,518 SF
Property Information for 116 173rd Street South
Summary
Location and General Information
- Style: 56 - 10+ Units
- Area: 99 - Spanaway
- Elementary School: Thompson Elem
- Middle Or Junior School: Spanaway Jnr High
- High School: Spanaway Lake High
- Effective Year Built Source: Public Records
- Directions: From Hwy 512 head South on Pacific Ave(Hwy7), Left of 173rd to complex on the right.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 25.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 0
Interior Features
- Fireplaces Total: 0
- Floor Covering: Vinyl, Carpet
- Features: Wall to Wall Carpet
- Amenities: Coin Op Laundry,Storage
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Wood, Wood Products
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 10206
- Power Company: TPU
- Sewer Company: Septic
- Water Company: Spanaway
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Zoning Class: Multi-Family,Residential
- First Right Of Refusal: false
- Possible Use: Multi-Family, Residential
- MLS Square Footage Source: Publica Records
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1994
- Photos Count: 40
Lot Information
- Lot Details: Alley, Paved
- Lot Size Dimensions: 203'x152'
- Lot Size Source: Public Records
- Parcel Number Free Text: 5025001461
- Building Condition: Good
- Calculated Square Footage: 12692
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 12692.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 25
- Number of Stories in Building: 2
- Vacancy Rate: 5
- Number Of Units Total: 13
- Units Below Grade: false
- Units In Building Total: 13
Financing / Income and Expenses
- Electric Expense: $2,327
- Total Expenses: 80225
- Gross Adjusted Income: 221383
- Gross Rent Multiplier: 10.6
- Gross Scheduled Income: $301,608
- Insurance Expense: $8,619
- Net Operating Income: $176,353
- Other Expenses: $36,050
- Total Monthly Income: 19764
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: false
- Square Feet Unit 1: 900
- Rent Unit 1: $1,600.00
- Bedrooms Unit 1: 2
- Fireplaces Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 2
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: false
- Square Feet Unit 2: 900
- Rent Unit 2: $1,450.00
- Bedrooms Unit 2: 2
- Fireplaces Unit 2: 0
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 3
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: false
- Square Feet Unit 3: 900
- Rent Unit 3: $1,625.00
- Bedrooms Unit 3: 2
- Fireplaces Unit 3: 0
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 4
- Washer/Dryer Unit 4: false
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: false
- Square Feet Unit 4: 900
- Rent Unit 4: $1,350.00
- Bedrooms Unit 4: 2
- Fireplaces Unit 4: 0
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 5
- Washer/Dryer Unit 5: false
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: false
- Square Feet Unit 5: 900
- Rent Unit 5: $1,300.00
- Bedrooms Unit 5: 2
- Fireplaces Unit 5: 0
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 6
- Washer/Dryer Unit 6: false
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: false
- Square Feet Unit 6: 850
- Rent Unit 6: $1,250.00
- Bedrooms Unit 6: 1
- Fireplaces Unit 6: 0
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 7
- Washer/Dryer Unit 7: false
- Range/Oven Unit 7: true
- Refrigerator Unit 7: true
- Dishwasher Unit 7: false
- Square Feet Unit 7: 900
- Rent Unit 7: $1,500.00
- Bedrooms Unit 7: 2
- Fireplaces Unit 7: 0
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 8
- Washer/Dryer Unit 8: false
- Range/Oven Unit 8: true
- Refrigerator Unit 8: true
- Dishwasher Unit 8: false
- Square Feet Unit 8: 900
- Rent Unit 8: $1,200.00
- Bedrooms Unit 8: 2
- Fireplaces Unit 8: 0
- Bathrooms Unit 8: 1
Unit 9
- Name Unit 9: 9
- Washer/Dryer Unit 9: false
- Range/Oven Unit 9: true
- Refrigerator Unit 9: true
- Dishwasher Unit 9: false
- Square Feet Unit 9: 900
- Rent Unit 9: $1,400.00
- Bedrooms Unit 9: 2
- Fireplaces Unit 9: 0
- Bathrooms Unit 9: 1
Unit 10
- Name Unit 10: 10
- Washer/Dryer Unit 10: false
- Range/Oven Unit 10: true
- Refrigerator Unit 10: true
- Dishwasher Unit 10: false
- Square Feet Unit 10: 900
- Rent Unit 10: $1,600.00
- Bedrooms Unit 10: 2
- Fireplaces Unit 10: 0
- Bathrooms Unit 10: 1
Unit 11
- Name Unit 11: 11
- Washer/Dryer Unit 11: false
- Range/Oven Unit 11: true
- Refrigerator Unit 11: true
- Dishwasher Unit 11: false
- Square Feet Unit 11: 900
- Rent Unit 11: $1,300.00
- Bedrooms Unit 11: 2
- Fireplaces Unit 11: 0
- Bathrooms Unit 11: 1
Unit 12
- Name Unit 12: 12
- Washer/Dryer Unit 12: false
- Range/Oven Unit 12: true
- Refrigerator Unit 12: true
- Dishwasher Unit 12: false
- Square Feet Unit 12: 900
- Rent Unit 12: $1,400.00
- Bedrooms Unit 12: 2
- Fireplaces Unit 12: 0
- Bathrooms Unit 12: 1
Unit 13
- Name Unit 13: 14
- Washer/Dryer Unit 13: false
- Range/Oven Unit 13: true
- Refrigerator Unit 13: true
- Dishwasher Unit 13: false
- Square Feet Unit 13: 900
- Rent Unit 13: $1,400.00
- Bedrooms Unit 13: 2
- Fireplaces Unit 13: 0
- Bathrooms Unit 13: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 11650.0
- Leasable Area Units: Square Feet
Property History for 116 173rd Street South
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 116 173rd Street South
Taxable ValueLand$622,900Additions$1,180,700Total$1,803,600
Tax Record2024$23,024 ($1,919 / month)
Home Facts
Total Finished SqFt12,692 SqFtAbove Ground SqFt8,767 SqFtFinished Basement SqFt3,925 SqFtStories1Lot Size32,518 SqFtStyleMulti-Family Res (5+ Units)Year Built1968Year Renovated1982ZoningMHRCountyPIERCEAPN5025001461
Schools near 116 173rd Street South
This home is within Bethel School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Chester H Thompson Elementary School PublicK to 5 | ||
Spanaway Junior High School Public6 to 8 | ||
Spanaway Lake High School Public9 to 12 | ||
Challenger Secondary School Public7 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of John L. Scott, Inc.
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.
