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166 112th Street Ct

Tacoma, WA 98445
  • $4,700,000
  • STATUS: Sold
  • ON SITE: 159 days
  • ID#: 1730648
Sold - 07/23/2021
$4,700,000
SOLD - 07/23/2021
  • 0
    BEDS
  • 0.97
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1988
County:
Area:

School Ratings & Info

School District:
Listing Courtesy of Kidder Mathews.

Description

Constructed in 1988, Sherwood Terrace consists of four two-story wood framed residential buildings spread across a roughly 1-acre parcel. This 24-unit complex holds spacious 2-bedroom, 1-bath and 2-bedroom, 1.5 bath layouts averaging 932 SF. Meticulously maintained and self-managed, this unique offering is being offered to investors for the first time in 15+ years. Primed for renovation, this value-add opportunity offers significant rental upside as rents are currently below market, and majority of homes (83%) are ripe for renovation to capture additional rent premiums. Sherwood Terrace presents and ideal first-generation value-add opportunity through maximizing operations with professional management, and interior renovations.

Listing by David A. Kelley. Sold by Kidder Mathews.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than The Snow Group at The Preview Group are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-08-04T00:14:52.997.

www.jeffsnowgroup.com/homes/114530302
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166 112th Street Ct Tacoma, WA 98445

  • Price: $5,000,000
  • Status: Sold
  • Updated: 194 min ago
  • ID#: 1730648
0
Beds
0
Baths
0
½ Baths
0.97
Acres
1988
Built
Neighborhood:
Parkland
County:
Pierce
Area:
Parkland
School District:
Tacoma
Property Description
Constructed in 1988, Sherwood Terrace consists of four two-story wood framed residential buildings spread across a roughly 1-acre parcel. This 24-unit complex holds spacious 2-bedroom, 1-bath and 2-bedroom, 1.5 bath layouts averaging 932 SF. Meticulously maintained and self-managed, this unique offering is being offered to investors for the first time in 15+ years. Primed for renovation, this value-add opportunity offers significant rental upside as rents are currently below market, and majority of homes (83%) are ripe for renovation to capture additional rent premiums. Sherwood Terrace presents and ideal first-generation value-add opportunity through maximizing operations with professional management, and interior renovations.
Exterior Features

Carport Spaces 24 Carport YN No Covered Spaces 0 Exterior Features Cement Planked Open Parking Spaces 8 Open Parking YN Yes Parking Total 32 Parking Uncovered Spaces 8 Roof Composition Structure Type Multi Family Style Code 56 - 10+ Units View YN No Waterfront YN No

Interior Features

Fireplace YN No Flooring See Remarks Foundation Details Block Furnished Unfurnished Heating Cooling Type Forced Air

Property Features

Electric Expense 0 Electric On Property YN False Fuel Expense 0 Gross Scheduled Income 393984 Insurance Expense 7981 Irrigation Water Rights YN No Leased Items None Listing Terms Conventional Net Operating Income 234769 New Construction YN No Possible Use Multi-Family Power Production Type Electric Property Condition Good Property Sub Type Multi-Family Sewer Sewer Connected Special Listing Conditions None Tax Annual Amount 45219 Tax Year 2020 Total Expenses 139515 Units In Building Total 24 Utilities Sewer ConnectedElectricity Available Water Sewer Garbage 38796 Zoning Class Multi-Family Zoning Jurisdiction City

Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by The Snow Group at The Preview Group and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than The Snow Group at The Preview Group are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-08-04T00:14:52.997.

 
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The Snow Group at The Preview Group
2150 North 107th Street #170
Seattle WA, 98133
Listing Courtesy of Kidder Mathews.