1420 Magnolia Street Southeast
Lacey, WA 98503
$650,000
Price
8
Beds
3.5
Baths
3,376 Sq. Ft.
$193 / Sq. Ft.
3,376
Sq. Ft.
$193
per Sq. Ft.
Listing provided courtesy of Windermere Prof Partners
Description
Great cash flowing rental in Lacey minutes from I5. 6.6% cap rate! First time on the market since 1991 and fully rented. The main unit features 4 beds and 1.5 baths. W/D in unit, Dishwasher, and formal living space with fireplace and private yard. 4 bedroom and a upstairs with a 1/2 bath down. The 3 bedroom unit features w/d hookups and 3/4 bath. Plenty of parking and 2 car ports. Units are fully rented. 2 are on term leases and one is month to month.Great cash flowing rental in Lacey minutes from I5. 6.6% cap rate! First time on the market since 1991 and fully rented. The main unit features 4 beds and 1.5 baths. W/D in unit, Dishwasher, and formal living space with fireplace and private yard. 4 bedroom and a upstairs with a 1/2 bath down. The 3 bedroom unit features w/d hookups and 3/4 bath. Plenty of parking and 2 car ports. Units are fully rented. 2 are on term leases and one is month to month.
- Listed by Mark DePaul • Windermere Prof Partners
Property Details for 1420 Magnolia Street Southeast
Community Name
Lacey
School DistrictNorth Thurston
Number of Assigned Spaces4
Total Covered Parking0
Entry Date10-08-2024
Energy SourceElectric,Natural Gas
SewerSewer Connected
LISTING UPDATED: 11/13/2024 10:56 AM
Property Details for 1420 Magnolia Street Southeast
| Status | Active |
|---|---|
| MLS # | 2299720 |
| Days on Market | 40 |
| Cumulative Days on Market | 37 |
| Taxes | $5,367 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1956 |
| Lot Size | 0.38 AC / 16,553 SF |
| County | Thurston County |
Building Information for 1420 Magnolia Street Southeast
Stories2Residences3Year Built1956Building Size-Lot Size0.38 AC / 16,553 SF
Property Information for 1420 Magnolia Street Southeast
Summary
Location and General Information
- Style: 53 - Tri-plex
- Site Features: Outbuildings
- Area: 450 - Lacey
- Effective Year Built Source: Public Records
- Directions: South on Sleater Kinney. Right on 16th Ave SE. Right on Magnolia St SE. House is to your right.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 2.0
- Carport: No
- Open Parking Spaces: 2.0
- 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
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard, Forced Air
- FIRPTA: No
Exterior Features
- Exterior: Metal/Vinyl
- Roof: Composition
Property
Utilities
- Water/Sewer/Garbage: 3054.41
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1969
- Photos Count: 39
Lot Information
- Lot Size Source: Realist
- Parcel Number Free Text: 11820243400
- Calculated Square Footage: 3376
- Structure Type: Triplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 3376.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 2
- Number of Stories in Building: 2
- Vacancy Rate: 5
- Number Of Units Total: 3
- Units Below Grade: false
Financing / Income and Expenses
- Electric Expense: $982
- Total Expenses: 12513.7
- Gross Adjusted Income: 56019
- Gross Rent Multiplier: 11.6
- Gross Scheduled Income: $58,968
- Insurance Expense: $1,749
- Net Operating Income: $43,506
- Other Expenses: $1,361
- Total Monthly Income: 4914
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1420
- Washer/Dryer Unit 1: true
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 1900
- Rent Unit 1: $2,000.00
- Bedrooms Unit 1: 4
- Fireplaces Unit 1: 1
- Bathrooms Unit 1: 2
Unit 2
- Name Unit 2: 1421
- Washer/Dryer Unit 2: true
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: false
- Square Feet Unit 2: 426
- Rent Unit 2: $800.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 1422
- Washer/Dryer Unit 3: true
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 1050
- Rent Unit 3: $1,850.00
- Bedrooms Unit 3: 3
- Bathrooms Unit 3: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 3376.0
- Leasable Area Units: Square Feet
Property History for 1420 Magnolia Street Southeast
| 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 1420 Magnolia Street Southeast
Taxable ValueLand$71,200Additions$525,600Total$596,800
Tax Record2023$5,695 ($475 / month)
Home Facts
Beds0Total Finished SqFt3,376 SqFtAbove Ground SqFt3,376 SqFtStories2Lot Size16,553 SqFtStyleMiscellaneous Vacant LandYear Built1956Year Renovated1969CountyTHURSTONAPN1182-02-43400Fireplace TypeHas Fireplace
Schools near 1420 Magnolia Street Southeast
This home is within North Thurston Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 12 |
Rating | School | Distance |
|---|---|---|
Mountain View Elementary School PublicPK to 5 | ||
Chinook Middle School Public6 to 8 | ||
North Thurston High School Public9 to 12 | ||
Summit VIrtual Academy PublicK 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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Listing Courtesy of Windermere Prof Partners
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.
