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601 N K Street

Tacoma, WA 98403
  • $1,425,000
  • STATUS: Pending
  • ID#: 2182578
Under Contract
$1,425,000
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,840
    SQFT
  • $371
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1905
County:
Area:

School Ratings & Info

School District:
Northwest MLS logoListing information ©2024 Northwest MLS. Listing courtesy of City Closers Real Estate.
Mortgage Calculator is provided by BoomTown.

Description

Investors! Capitalize on this high-performing, turnkey building in North End Tacoma. This is a 100% leased asset where the commercial anchor tenant (66 years in business) has a new 20-year NNN lease with 3% annual increases! Actual Cap Rate is 7.42%. Potential for value add by building units in the rear of the property with alley access. This corner property has water views from the 3rd floor and it's located in one of the most prized neighborhoods of Tacoma. The main commercial tenant's space was completely renovated in 2019. The building has three commercial spaces occupied by one commercial tenant and three residential apartments with eight off-street parking spots. Near to the new rail system, medical, retail, restaurants & parks.

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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 Costello Team | Windermere Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2024-04-04T00:14:42.26. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2024-04-04T00:14:42.26. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.costelloteam.com/homes/145528232
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601 N K Street Tacoma, WA 98403

  • Price: $1,425,000
  • Status: Pending
  • On Site: Days
  • ID#: 2182578
0
Beds
0
Baths
0
½ Baths
0.15
Acres
3,840
SQFT
$371
$/SQFT
1905
Built
Neighborhood:
North Tacoma
County:
Pierce
Area:
North Tacoma
School District:
Tacoma
Property Description
Investors! Capitalize on this high-performing, turnkey building in North End Tacoma. This is a 100% leased asset where the commercial anchor tenant (66 years in business) has a new 20-year NNN lease with 3% annual increases! Actual Cap Rate is 7.42%. Potential for value add by building units in the rear of the property with alley access. This corner property has water views from the 3rd floor and it's located in one of the most prized neighborhoods of Tacoma. The main commercial tenant's space was completely renovated in 2019. The building has three commercial spaces occupied by one commercial tenant and three residential apartments with eight off-street parking spots. Near to the new rail system, medical, retail, restaurants & parks.
Exterior Features

Carport Spaces 0 Carport YN No Covered Spaces 0 Exterior Features Wood Lot Features AlleyCorner LotCurbsPavedSidewalk Open Parking Spaces 8 Open Parking YN Yes Parking Features RV Parking Parking Total 8 Parking Uncovered Spaces 8 Roof Composition Structure Type Triplex Style Code 53 - Tri-plex View BayPartialSoundTerritorial View YN Yes Waterfront YN No

Interior Features

Building Area Total 3840 Cooling Other – See Remarks Cooling YN Yes Fireplace YN No Flooring Ceramic TileLaminateVinyl PlankCarpet Heating Baseboard Heating YN Yes Interior Features Ceramic TileLaminateWall to Wall Carpet Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Amenities BasementCoin Op LaundryStorage Association Fee 0 Association YN No Energy Source ElectricNatural Gas FIRPTAYN No First Right Of Refusal No Foundation Details Poured Concrete Irrigation Water Rights YN No Listing Terms Cash OutConventional Lot Number 11 & 12 Net Operating Income 105867 New Construction YN No Possession ClosingTenant's Rights Possible Use Commercial Power Company Tacoma Public Utilities Power Production Type ElectricNatural Gas Property Condition Average Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Sewer Company Tacoma Public Utilities Site Features Cable TVDeckGas AvailableHigh Speed InternetRV ParkingShop Special Listing Conditions None Tax Annual Amount 4268 Tax Year 2023 Units In Building Total 6 Water Company Tacoma Public Utilities Water Source Public Year Built Effective 1988 Zoning Class Commercial Zoning Jurisdiction City



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 Costello Team | Windermere Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2024-04-04T00:14:42.26. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".
Based on information submitted to the MLS GRID as of 2024-04-04T00:14:42.26. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Costello Team | Windermere Real Estate
100 116th Ave SE
Bellevue WA, 98004
Northwest MLS logoListing information ©2024 Northwest MLS. Listing courtesy of City Closers Real Estate.
Mortgage Calculator is provided by BoomTown.