PROPERTY OPERATING MEMO | Courtesy of Sound Multifamily Property Advisors
1509 E 38th St #1-4, Tacoma
Price: $370,000.00
4
Per Unit: $92,500.00
1982
Per Sq. Ft: $118.74
3,116
Current CAP/GRM: N/A
N/A
9,665
Market CAP/GRM: 9.98%
7.91
RENT ROLL / MONTHLY INCOME
ANNUAL EXPENSES
Type
Taxes: $3,455.00
Size Lease ends
Current Market Rent
2bed / 1 bath 750
Insurance: $1,000.00
M-2-M
$920.00
$975.00
2 bed / 1 bath 750
Utilities: $4,000.00
Vacant
$0.00
$975.00
2bed / 1 bath 750
Maint/Repairs: $0.00
M-2-M
$975.00
$975.00
2 bed / 1 bath 750 11/30/2016 $975.00
Property Mgmt:
$975.00
Other:
Property
Units:
Year Built:
Building Sq. Ft:
Lot Size (sq. ft.):
Unit
8806
8808
8806
8808
Totals:
3000
ANNUALIZED DATA
Gross Scheduled Rent: $34,440.00
Other Income: $0.00
Less Vacancy:
Gross Adj. Income: $34,400.00
Less Expenses: $8,455.00
Net Operating Income: $25,945.00
$2,870.00
$3,900.00
Total Expenses: $8,455.00
ANNUALIZED MARKET DATA
Gross Scheduled Rent: $46,800.00
Other Income: $0.00
Less Vacancy: 3%
Gross Adj. Income: $45,396.00
Less Expenses: $8,455.00
Net Operating Income: $36,941.00
REMARKS
FOURPLEX: 9+% Cap Rate. Very well maintained; updated units, exterior and systems throughout. This is solid, turn-key
investment property producing excellent cash-flow! Units are all 2 bed/1 bath, 750SF, each with their own
washer/dryer, and private balcony. Energy efficient double-pane windows throughout; plenty of off-street parking. Highdemand rental just minutes from I-5 and access to all amenities.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of
the the information. References to square footage or age are approximate. Should you submit an offer on this property, we will ensure that it is contingent on the
accuracy of all information listed, assist you in obtaining all books and records available, and performing all necessary due diligence to your satisfaction. Visit us
online: www.SoundMultiFamily.com