1224 S Yakima Ave, Tacoma, WA 98405

$4,700,000
20,544
SqFt

Listing courtesy of Kidder Mathews.

List Price
$4,700,000
Status
ACTIVE
MLS#
1558509
Days on Market
30
Style
56 - 10+ Units
Finished SqFt
20,544
Lot Size (sq ft)
6,500

Property Description

The Granada Apts. are centrally located in downtown Tacoma and in a designated Opportunity Zone. Its brick exterior and old-world charm accentuate the early 20th-century architecture. The building offers a mix of one-bedroom and studio units. The entire building underwent a significant renovation from 2017 through the end of 2018. New boiler, roof, windows, exterior & interior paint, renovated interiors and more. Additional upside available with the renovation of vacant 33rd unit & raising rents

Additional Information

List Date
2020-01-22 00:00:00
Community
Tacoma
Property Type
MULT
Stories
4
Potential Terms
Assumable, Cash Out
Year Built
1926
Total Parking
10
Uncovered Parking
10
View
City, Mountain
Exterior
Brick
Roof
Flat
Site Features
Cable TV, Fenced-Partially, Gas Available, High Speed Internet
Lot Details
Alley, Corner Lot, Curbs, Paved Street, Sidewalk
School District
Tacoma
Total Monthly Income
$34,298
Gross Scheduled Income
$383,904
Vacancy Rate
21177
Gross Adjusted Income
$416,172
Annual Taxes
$40,152
Tax Year
2020
Insurance Expense
$6,420
W/S/G Expenses
$54,115
Total Expenses
$180,449
Net Operating Income
$235,723
Gross Rent Multiplier
12
Cap Rate
5

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
624
Unit 1 Rent
$1,100
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
484
Unit 2 Rent
$1,099
Unit 3 Baths
1.00
Unit 3 Size
352
Unit 3 Rent
$899
Unit 4 Baths
1.00
Unit 4 Size
428
Unit 4 Rent
$899
Unit 5 Baths
1.00
Unit 5 Size
428
Unit 5 Rent
$899
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
624
Unit 6 Rent
$1,099
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