22604 Marine View Drive S, Des Moines, WA 98198

$900,000
4,100
SqFt

Listing courtesy of Hood Canal Real Estate. Selling Office: Hood Canal Real Estate.

Sold Price
$900,000
List Price
$1,000,000
Status
SOLD
MLS#
2177044
Closing Date
Jan 02, 2024
Days on Market
31
Style
53 - Tri-plex
Building Condition
Fair
Finished SqFt
4,100
Area Total SqFt
4100
Annual Tax Ammount
7518
Lot Size (sq ft)
5,500
Sewer
Sewer Connected

Property Description

Mixed use investment property in the heart of Des Moines. 3 large approx 800 sf 1bedroom apartments above with view of Puget Sound/ Olympic Mtns and 3 commercial spaces below on well trafficked Marine View Drive S. Extraordinary drive by visibility. 4 parking spaces for apartments behind building on 8th Avenue S and 6+parking spaces for commercial spaces off Marine View Drive S. More public parking on side street close by. Coin operated washer/dryer and storage space for tenants behind commercial space. Corridor behind retail provides access to shared bathroom for two commercial tenants and 1 tenant has own private bathroom. Please do not disturb tenants, call your broker or listing broker to schedule showing. Estate sale no form 17.

Additional Information

List Date
2023-12-02 00:00:00
Community
Des Moines
Net Operating Income
$45,524
Gross Adjusted Income
$64,320
Gross Scheduled Income
$64,320
Total Monthly Income
$64,320
Insurance Expenses
$4,870
Water/Sewer/Garbage Expenses
$3,024
Gross Rent Multiplier
15.55
Total Expenses
$18,796
Cap Rate
5
Total Number of Units
6
Unit Name
22604
Potential Terms
Cash Out, Conventional
Year Built
1960
View
Bay, Mountain(s), Sea, Sound
Roof
Flat
Site Features
Cable TV
Electric Expenses
420
Other Expenses
2964
Energy Source
Electric
School District
Highline
Total Monthly Income
$64,320
Gross Scheduled Income
$64,320
Gross Adjusted Income
$64,320
Tax Year
2023
Insurance Expense
$4,870
W/S/G Expenses
$3,024
Total Expenses
$18,796
Net Operating Income
$45,524
Gross Rent Multiplier
15.55
Cap Rate
5
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