SOLD // 8212 29th Ave Ct S, Lakewood, WA 98499
Southern Pines
SOLD FOR
$9,200,000
Property Overview
ADDRESS
8212 29th Ave Ct S,
Lakewood, WA 98499
RESIDENTIAL NRSF
± 44,586
NEIGHBORHOOD
Oakwood
FOUNDATION
Concrete on Grade
YEAR BUILT
1988
PARKING
2 : 1
UNITS
50 Units
SITE AREA
108,464 SF (2.49 ACRES)
Executive Highlights
-
Immediate Day-1 Cashflow
Average 8.6% cash-on-cash return
-
Positive leverage
In-place interest rate is lower than the CAP rate
-
Value-add Opportunity
Ability to even further increase cashflow
-
Washer/Dryer In-unit
Attractive product to rent
-
1988 Construction
Updated internal building systems
-
Excellent Unit Mix
Floorplans averaging 892 sf including 2- and 3-bedroom flats and townhomes
-
Easy Access to Main Arterials, Light Rail, and Major Employers
- 10 minutes to two light rail stations
- Immediate highway access
- 6 minutes to Downtown Lakewood
- 20 minutes to Downtown Tacoma
-
Attractive Assumable Loan
67% LTV loan at 4.23% interest-only loan until 2030!
Location
Gallery
