3118 Morrison Road W Unit #A-D, University Place, WA 98466
- $1,395,000
- 4,704
- SqFt
Listing Broker: Coldwell Banker Danforth; Jay Grauman; 253-380-3939; jaygrauman@outlook.com
- List Price
- $1,395,000
- Status
- ACTIVE
- MLS#
- 2602514
- Style
- 54 - 4-Plex
- Finished SqFt
- 4,704
- Area Total SqFt
- 4704
- Annual Tax Ammount
- 15243
- Lot Size (sq ft)
- 16,553
- Sewer
- Sewer Connected
Property Description
5.9% CAP RATE! Fantastic investment opportunity in desirable University Place! This fully rented 4-plex offers immediate rental income with a strong rental history and an excellent location within the highly sought-after University Place School District. Each spacious unit features 3 bedrooms, 1.75 baths, an open kitchen with eating space, separate dining area, generous living room with fireplace, in-unit laundry, and a private covered deck with storage. Thoughtful floor plans offer added privacy with a separate hallway leading to the primary suite and attached bath. Property also features ample parking, including 4 covered spaces, and a large common area. Conveniently located near shopping, dining, transit, and everyday amenities. A great opportunity to add a fully occupied, income-producing property to your investment portfolio!
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Additional Information
- Community
- University Place
- Net Operating Income
- $83,533
- Gross Adjusted Income
- $114,600
- Gross Scheduled Income
- $114,600
- Total Monthly Income
- $9,550
- Insurance Expenses
- $6,041
- Water/Sewer/Garbage Expenses
- $9,783
- Gross Rent Multiplier
- 12.17
- Total Expenses
- $31,067
- Cap Rate
- 5.9
- Total Number of Units
- 4
- Unit Name
- 3118
- Potential Terms
- Cash, Conventional
- Year Built
- 1988
- Roof
- Composition
- Site Features
- Cable TV, Deck, Fenced-Fully, High Speed Internet
- Energy Source
- Electric, Wood
- School District
- University Place
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $9,550
- Gross Scheduled Income
- $114,600
- Gross Adjusted Income
- $114,600
- Tax Year
- 2026
- Insurance Expense
- $6,041
- W/S/G Expenses
- $9,783
- Total Expenses
- $31,067
- Net Operating Income
- $83,533
- Gross Rent Multiplier
- 12.17
- Cap Rate
- 5.9
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.