1727 South 305th Place
Federal Way, WA 98003
$1,600,000
Last Sold Price
2
Beds
2
Baths
5,276 Sq. Ft.
$303 / Sq. Ft.
5,276
Sq. Ft.
$303
per Sq. Ft.
Sold 10/30/24
Sold 10/30/24
Listing provided courtesy of Nations Realty, LLC, eLink Realty
Description
Prime Investment Opportunity in Federal Way: Renovated 8-Unit ApartmentThis fully occupied 8-unit apartment is rare. It is located near downtown Federal Way, directly across from Federal Way High School. Each unit has been completely renovated, ensuring modern living spaces that are attractive and easy to maintain. With a strong 6.29% CAP rate, this property promises solid returns on investment. Convenience is key, with the upcoming light rail station just minutes away and within walking distance...Prime Investment Opportunity in Federal Way: Renovated 8-Unit ApartmentThis fully occupied 8-unit apartment is rare. It is located near downtown Federal Way, directly across from Federal Way High School. Each unit has been completely renovated, ensuring modern living spaces that are attractive and easy to maintain. With a strong 6.29% CAP rate, this property promises solid returns on investment. Convenience is key, with the upcoming light rail station just minutes away and within walking distance of the bus stop. Recent upgrades, including a brand-new roof in 2018 and new siding and exterior paint in 2023, mean no deferred maintenance—making it an ideal, hassle-free investment—with low vacancy rates.
- Listed by Kennedy E. Akinlosotu • Nations Realty, LLC
Property Details for 1727 South 305th Place
Community Name
Federal Way
School DistrictFederal Way
Number of Assigned Spaces10
Total Covered Parking0
Entry Date09-06-2024
Energy SourceElectric
SewerAvailable
LISTING UPDATED: 11/30/2024 04:04 AM
Property Details for 1727 South 305th Place
| Status | Sold |
|---|---|
| MLS # | 2286969 |
| Days on Market | 13 |
| Cumulative Days on Market | 13 |
| Taxes | $15,361 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1976 |
| Lot Size | 0.22 AC / 9,604 SF |
| County | King County |
Building Information for 1727 South 305th Place
Stories2Residences8Year Built1976Building Size-Lot Size0.22 AC / 9,604 SF
Property Information for 1727 South 305th Place
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 110 - Dash Point/Federal Way
- Directions: GPS is Good.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
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
- FIRPTA: Yes
Exterior Features
- Exterior: Wood Products
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 18312
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- First Right Of Refusal: false
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 38
Lot Information
- Lot Size Source: Public Record
- Parcel Number Free Text: 2558170030
- Calculated Square Footage: 5276
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 5276.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 0
- Number of Stories in Building: 2
- Vacancy Rate: 2
- Number Of Units Total: 8
- Units Below Grade: false
- Units In Building Total: 8
Financing / Income and Expenses
- Electric Expense: $1,860
- Total Expenses: 51148
- Gross Adjusted Income: 3036
- Gross Rent Multiplier: 10.21
- Gross Scheduled Income: $151,800
- Insurance Expense: $3,751
- Net Operating Income: $100,656
- Other Expenses: $11,864
- Total Monthly Income: 151600
- Fuel Expense: $0
Unit 1
- Name Unit 1: G
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Rent Unit 1: $1,750.00
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: H
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: false
- Rent Unit 2: $1,000.00
- Bedrooms Unit 2: 0
- Bathrooms Unit 2: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 5276.0
- Leasable Area Units: Square Feet
Property History for 1727 South 305th Place
| 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 1727 South 305th Place
Taxable ValueLand$225,000Additions$1,153,000Total$1,378,000
Tax Record2024$15,361 ($1,280 / month)
Home Facts
Total Finished SqFt5,280 SqFtAbove Ground SqFt5,280 SqFtStories2Lot Size9,604 SqFtStyleMulti-Family Dwelling (2-4)Year Built1976Year Renovated2000ZoningRM1800CountyKINGAPN255817-0030
Schools near 1727 South 305th Place
This home is within Federal Way School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Wildwood Elementary School PublicPK to 5 | ||
Sacajawea Middle School Public6 to 8 | ||
Federal Way Senior High School Public9 to 12 | ||
Career Academy At Truman High School Public9 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 Nations Realty, LLC
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.
