Listed by Keller Williams Rty Tacoma, Bought with COMPASS
NOT LISTED FOR SALE

Estimated Value: $943,000 - $1,049,000

5 Beds
3 Baths
2,290 Sq Ft
$440/Sq Ft Est. Value

Last Sold January 08, 2025

Last sale price $1,030,000 $450 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $6,165/month

46 Days on Market

Highlights

  • Deck
  • Wood Flooring
  • Patio
  • Garfield High School Rated A
  • No HOA
  • 4-minute walk to Williams Place

About This Home

As of January 2025

Tremendous Opportunity with this Fantastic Seattle Property. Currently a Tri-Plex with so much potential for future development based on the zoning and location. Big opportunity to go vertical up to 75 ft, zoned NC275 which supports the opportunity to build Single purpose commercial structures, multi-story mixed-use and residential structures w/potential retail. The possibilities here are endless! All units are currently vacant. Unit 1 is 1 bedroom, 1 bath, 640 sq ft. Unit 2 is 2 bedrooms, 2 baths, 950 sq ft. Unit 3 is 2 bedrooms, 1 bath, 700 sq ft. Conveniently located to all amenities. An opportunity like this does not come often! 2 parking spots at the rear of the building. Buyer to verify all information to their satisfaction.

Last Agent to Sell the Property

Matthew Harber

Keller Williams Rty Tacoma License #25202 Listed on: 10/22/2024

Keller Williams Rty Tacoma

Co-Listed By

Guy Rowley

Keller Williams Rty Tacoma License #23862

Last Buyer's Agent

Tyler Hopp

COMPASS License #22010405

COMPASS

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2304073

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,369

Year Built

  • Built in 1903

Lot Details

  • 3,468 Sq Ft Lot
  • Value in Land
  • Property is in average condition

Home Design

  • Triplex
  • Poured Concrete
  • Composition Roof
  • Wood Siding
  • Wood Composite

Interior Spaces

  • 2,290 Sq Ft Home
  • 2-Story Property

Flooring

  • Wood
  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Parking

  • 2 Parking Spaces
  • Open Parking

Outdoor Features

  • Deck
  • Patio

Utilities

  • Forced Air Heating System

Community Details

  • No Home Owners Association
  • Seattle Subdivision

Listing and Financial Details

  • Assessor Parcel Number 6003001900

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,369

Year Built

Built in 1903

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1903
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2290
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour

Interior Features

  • Possible Use: Multi-Family, Residential, Retail, See Remarks
  • Total Bedrooms: 5
  • Fireplace: No
  • Flooring: Hardwood, Laminate, Vinyl, Carpet
  • Interior Amenities: Hardwood, Laminate, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Alley, Curbs, Paved, Sidewalk, Value In Land
  • View: No
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Average
  • Structure Type: Triplex

Garage/Parking

  • Carport Y N: No
  • Open Parking: Yes
  • Total Parking Spaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air
  • Heating Yn: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 6003001900
  • Lot Size Acres: 0.0796
  • Lot Size Sq Ft: 3468
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Patio
  • MLSLotSizeSource: Tax Records/Realist
  • ZoningClass: Multi-Family,Residential,Retail,See Remarks

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 15.63
  • LeasedItems: None
  • TotalMonthlyIncome: 6400

Tax Info

  • Year: 2024
  • Tax Annual Amount: 10369

Multi Family

  • Number Of Units Total: 3
  • Electric Expense: 1800
  • EnergySource: Electric
  • UnitsBelowGrade: true

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 22, 2024
Closed on
Dec 23, 2024
Sold by
Reed Living Trust and Reed David Norman
Bought by
Larsen Dean
Seller's Agent
Matthew Harber
Keller Williams Rty Tacoma
Buyer's Agent
Tyler Hopp
COMPASS
List Price
$1,200,000
Sold Price
$1,030,000
Premium/Discount to List
-$170,000
-14.17%
Views
28
Current Estimated Value
$1,008,560

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$21,440
Avg. Annual Appreciation
-1.98%
Original Mortgage
$820,000
Outstanding Balance
$813,576
Interest Rate
6.81%
Mortgage Type
New Conventional
Estimated Equity
$194,984

Purchase Details

Closed on
Feb 3, 2003
Sold by
Reed David Norman and Reed Barbara Ann
Bought by
Reed David Norman and Reed Barbara Ann

Purchase Details

Closed on
Feb 1, 1989
Sold by
Smith Kenneth W
Bought by
Reed David N and Barbara Ann
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Larsen Dean $1,030,000 Stewart Title
Larsen Dean $1,030,000 Stewart Title
Larsen Dean $1,030,000 Stewart Title
Reed David Norman -- --
Reed David N $65,600 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Larsen Dean $820,000
Closed Larsen Dean $820,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/08/2025 01/08/25 Sold $1,030,000 -14.2% $450 / Sq Ft
12/07/2024 12/07/24 Pending -- -- --
10/22/2024 10/22/24 For Sale $1,200,000 -- $524 / Sq Ft
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
2024 $11,136 $1,140,000 $864,000 $276,000
2023 $10,369 $1,079,000 $823,000 $256,000
2022 $10,070 $1,204,000 $510,000 $694,000
2021 $9,904 $1,080,000 $439,000 $641,000
2020 $10,092 $1,010,000 $412,000 $598,000
2018 $9,219 $1,106,000 $424,000 $682,000
2017 $7,341 $922,000 $362,000 $560,000
2016 $6,636 $754,000 $302,000 $452,000
2015 $5,780 $664,000 $280,000 $384,000
2014 -- $590,000 $216,000 $374,000
2013 -- $506,000 $299,000 $207,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2304073

Northwest Multiple Listing Service (NWMLS)

APN: 600300-1900