Listed by Commercial Advantage, LLC, Bought with Skyline Properties, Inc.
NOT LISTED FOR SALE

1014 1016 Martin Luther King jr Way Tacoma, WA 98405

Hilltop Neighborhood

Estimated Value: $2,117,174

-- Bed
-- Bath
-- Sq Ft
6,500 Sq Ft Lot

Last Sold July 09, 2021

Last sale price $1,911,000

Est. 11% increase in value since last sale

Current estimated payment $12,461/month

157 Days on Market

Highlights

  • Concrete Flooring
  • Wood Siding
  • 1-minute walk to Peoples Park
  • Stadium High School Rated A-

About This Home

As of July 2021

Mixed-use building in an area on the upswing. New Tacoma Link light rail stop going in right in front of the building, tracks already laid. 2 retail spaces on street level and 10 1-bedroom, 1-bath apartments on the 2nd floor, with one storage facility. County records show the 'effective year built' as 1985; however, there was a major remodel/update on the property in 2007.

Last Agent to Sell the Property

Richard Clauson

Commercial Advantage, LLC License #8953 Listed on: 11/23/2020

Last Buyer's Agent

Xenia Maynard

Skyline Properties, Inc. License #129829

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1692384

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,227

Year Built

  • Built in 1911

Lot Details

  • 6,500

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Block Foundation
  • Wood Siding

Flooring

  • Concrete
  • Vinyl

Additional Features

  • 2-Story Property
  • 6,500 Sq Ft Lot

Community Details

  • Tacoma Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2010220030

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,227

Year Built

Built in 1911

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1911
  • Buyer Agency Compensation: 2%
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 0
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family, Retail
  • Fireplace: No
  • Flooring: Concrete, Vinyl
  • Interior Amenities: Concrete
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: See Remarks

Exterior Features

  • Roof: Flat
  • Lot Features: Alley, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Brick, Wood
  • Foundation Details: Block
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric, Natural Gas Connected
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Tacoma

Lot Info

  • Parcel Number: 2010220030
  • Lot Size Acres: 0.1492
  • Lot Size Sq Ft: 6500
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Public Records
  • ZoningClass: Multi-Family,Retail

Green Features

  • Power Production Type: Electric, Natural Gas

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 0
  • LeasedItems: None
  • TotalMonthlyIncome: 0

Tax Info

  • Year: 2020

Multi Family

  • Number Of Units Total: 12
  • Leasable Area: 11500
  • EnergySource: Electric,Natural Gas
  • UnitsInBuildingTotal: 12
  • UnitsBelowGrade: false
  • VacancyRate: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 23, 2020
Closed on
Jun 7, 2021
Sold by
Konopaski Ronald L and Konopaski Frigga
Bought by
Zrj Ii Llc
Seller's Agent
Richard Clauson
Commercial Advantage, LLC
Buyer's Agent
Xenia Maynard
Skyline Properties, Inc.
List Price
$1,950,000
Sold Price
$1,911,000
Premium/Discount to List
-$39,000
-2%
Current Estimated Value
$2,117,174

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$206,174
Avg. Annual Appreciation
2.42%
Original Mortgage
$1,365,000
Outstanding Balance
$1,235,837
Interest Rate
2.9%
Mortgage Type
Stand Alone Second
Estimated Equity
$881,337

Purchase Details

Closed on
Nov 6, 2018
Sold by
Dwell Mlk Llc
Bought by
Konopaski Ronald L and Konopaski Frigga

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
4.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 10, 2016
Sold by
Thorp Richard and Thorp Jennifer
Bought by
Dwell Mlk Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$712,500
Interest Rate
3.41%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 12, 2006
Sold by
Romvari Fred and Romvari Mary
Bought by
Thorp Richard and Thorp Jennifer

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$510,000
Interest Rate
6.32%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Zrj Ii Llc $1,911,000 Fidelity Natl Ttl Co Of Wa I
Konopaski Ronald L $1,634,719 First American Title
Dwell Mlk Llc -- First American Title Ins Co
Thorp Richard $550,000 Fidelity Natl Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Zrj Ii Llc $1,365,000
Previous Owner Konopaski Ronald L $1,000,000
Previous Owner Dwell Mlk Llc $712,500
Previous Owner Thorp Richard $510,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/09/2021 07/09/21 Sold $1,911,000 -2.0% --
04/29/2021 04/29/21 Pending -- -- --
03/29/2021 03/29/21 For Sale $1,950,000 0.0% --
02/11/2021 02/11/21 Pending -- -- --
01/05/2021 01/05/21 Price Changed $1,950,000 -11.4% --
12/23/2020 12/23/20 For Sale $2,200,000 0.0% --
11/25/2020 11/25/20 Pending -- -- --
11/23/2020 11/23/20 For Sale $2,200,000 -- --
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $15,227 $1,615,600 $523,800 $1,091,800
2024 $15,227 $1,670,200 $523,200 $1,147,000
2023 $15,227 $1,369,900 $213,100 $1,156,800
2022 $14,418 $1,304,700 $213,100 $1,091,600
2021 $13,740 $1,095,100 $184,600 $910,500
2019 $13,595 $1,152,700 $184,600 $968,100
2018 $9,647 $1,047,900 $167,800 $880,100
2017 $8,944 $611,500 $105,500 $506,000
2016 $9,192 $555,900 $105,500 $450,400
2014 $10,645 $529,400 $105,500 $423,900
2013 $10,645 $557,300 $105,500 $451,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1692384

Northwest Multiple Listing Service (NWMLS)

APN: 201022-0030