Listed by John L. Scott, Inc.
$3,200,000

116 173rd St S Spanaway, WA 98387

Estimated payment $19,321/month

Total Views 7,371
25 Beds
13 Baths
12,692 Sq Ft
$252 Price per Sq Ft

Highlights

  • 0.75 Acre Lot
  • No HOA
  • Wood Siding
  • Mountain View
  • Baseboard Heating
  • Wall to Wall Carpet

About This Home

Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units include electrical panels & water tanks. Several units have been upgraded with modern finishes: cabinets, countertops, appliances, trim & flooring. Additional features include, coin-operated laundry facility, 13 individual garage spaces, 5 storage units, rare & valuable amenities. Long-term tenants ensure steady cash flow, with units turning over quickly when they become available. Conveniently located to schools, shopping, JBLM & outdoor recreation, this is a prime opportunity to invest in a well-maintained property with long-term potential.

Listing Agent

Matthew 'Cooper' Carlson

John L. Scott, Inc. License #21023161 Listed on: 09/06/2024

John L. Scott, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2287714

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $23,023

Year Built

  • Built in 1968

Lot Details

  • 0.75 Acre Lot
  • Lot Dimensions are 203'x152'
  • Property is in good condition

Home Design

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

Interior Spaces

  • 12,692 Sq Ft Home
  • 2-Story Property
  • Mountain Views

Flooring

  • Wall to Wall Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 25 Bedrooms
  • 13 Bathrooms

Parking

  • 37 Parking Spaces
  • 12 Covered Spaces
  • Open Parking

Schools

  • Thompson Elementary School
  • Spanaway Jnr High Middle School
  • Spanaway Lake High School

Utilities

  • Baseboard Heating
  • Septic Tank

Community Details

  • No Home Owners Association
  • Lake Park Subdivision

Listing and Financial Details

  • Assessor Parcel Number 5025001461

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$23,023

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1968
  • MLS Status: Active
  • Prev Status: Active
  • New Construction: No
  • CalculatedSquareFootage: 12692
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 362

Interior Features

  • Possible Use: Multi-Family, Residential
  • Total Bedrooms: 25
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry,Storage

Exterior Features

  • Roof: Composition
  • View: Mountain(s)
  • Lot Features: Alley, Paved
  • View: Yes
  • Waterfront: No
  • Construction Type: Wood
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 12
  • Open Parking Spaces: 25
  • Open Parking: Yes
  • Total Parking Spaces: 37
  • ParkingUncoveredSpaces: 25

Utilities

  • Sewer: Septic Tank
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: TPU
  • SewerCompany: Septic
  • WaterCompany: Spanaway
  • CableConnected: Xfinity
  • InternetConnected: Xfinity
  • WaterSewerGarbage: 10206

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Bethel
  • High School: Spanaway Lake High
  • Middle Or Junior School: Spanaway Jnr High

Lot Info

  • Parcel Number: 5025001461
  • Lot Size Acres: 0.7465
  • Lot Size: 203'x152'
  • Lot Size Sq Ft: 32518
  • Zoning Description: Multi-Family,Residential
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Public Records
  • MLSSquareFootageSource: Publica Records

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.6
  • LeasedItems: None
  • TotalMonthlyIncome: 19764

Multi Family

  • Gross Scheduled Income: 301608
  • Net Operating Income: 176353
  • Number Of Units Total: 13
  • Electric Expense: 2327
  • Insurance Expense: 8619
  • Leasable Area: 11650
  • EnergySource: Electric
  • UnitsInBuildingTotal: 13
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2024
  • Tax Annual Amount: 23023

MLS Schools

  • Elementary School: Thompson Elem

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/06/2024 09/06/24 For Sale $3,200,000 -- $252 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2287714

Northwest Multiple Listing Service (NWMLS)
Washington Pierce County Spanaway 98387

116 173rd St S, Spanaway, WA

This home is located at 116 173rd St S, Spanaway, WA 98387 and is currently priced at $3,200,000, approximately $252 per square foot. This property was built in 1968. 116 173rd St S is a home located in Pierce County with nearby schools including Chester H. Thompson Elementary School, Spanaway Middle School, and Spanaway Lake High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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Matthew 'Cooper' Carlson
Listing Agent
Matthew 'Cooper' Carlson
Section Image
John L. Scott, Inc.
(253) 364-6932