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1717 83rd Ave SW
Tumwater, WA 98512
Prine Villa · Multifamily Property For Sale · 32 Units
PROPERTY FACTS
| No. Units | 32 | Lot Size | 16.09 AC |
| Property Type | Multifamily | Building Size | 38,400 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1978 |
| Building Class | B | Parking Ratio | 1.3/1,000 SF |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 16.09 AC |
| Building Size | 38,400 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.3/1,000 SF |
ABOUT 1717 83RD AVE SW , TUMWATER, WA 98512
The property consists of (32) townhome units built in 1978. All of the units are a two-story 3 bedroom/2bath layout totaling 1,221 square feet. The apartments feature washer and dryer hookups, dishwashers, wood burning fireplaces, and French doors leading to private patios/backyards. The heat source is electric baseboard, and the electric sub panels were all replaced in 2016-2017. The roofs are a pitched 50-year metal material that were completed in 2011. This is value-add opportunity offering an investor a stable in-place cap rate with the option to perform a light rehab to capture a conservative 15-20% upside in rents. The property sits on 16-acres of land across from the newly remodeled George Washington Bush middle school. Prine Villa is also located less than 10 minutes from the State Office buildings which include the State Health Department and Department of Labor and Industries which are major employers and have consistent demand for new employees.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 32 | $1,175 | 1,220 |
PROPERTY TAXES
| Parcel Number | 12715220000 | Improvements Assessment | $3,680,900 |
| Land Assessment | $1,825,200 | Total Assessment | $5,506,100 |
PROPERTY TAXES
ZONING
| Zoning Code | MFM |
| MFM |
