Listed by Coldwell Banker Bain, Bought with Martin Real Estate Group
NOT LISTED FOR SALE

131 Lippert Dr W Port Orchard, WA 98366

Estimated Value: $856,000 - $931,000

8 Beds
4 Baths
3,440 Sq Ft
$259/Sq Ft Est. Value

Last Sold November 22, 2023

Last sale price $829,900 $241 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $5,279/month

6 Days on Market

Highlights

  • No HOA
  • Wood Siding
  • Vinyl Flooring

About This Home

As of November 2023

This multi-unit property is a great investment opportunity. With 4 units featuring 2 bedrooms, 1 full bath, stacked washer and dryer, with laminate hardwood and vinyl flooring throughout. Each unit comes with 2 reserved parking spaces for added value. This well-maintained property offers a solid cap rate of 6.192%, making it an excellent addition to your investment portfolio. All units are currently rented, ensuring immediate rental income - Don't miss this opportunity!

Last Agent to Sell the Property

Christopher Sudore

Coldwell Banker Bain License #95633 Listed on: 11/02/2023

Coldwell Banker Bain

Co-Listed By

Ryder Fasse

Coldwell Banker Bain License #93693

Last Buyer's Agent

Heidi O'Brien

Martin Real Estate Group License #96246

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2176806

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,325

Year Built

  • Built in 1984

Lot Details

  • 0.25

Home Design

  • Quadruplex
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,440 Sq Ft Home
  • 2-Story Property
  • Vinyl Flooring

Parking

  • 8 Parking Spaces
  • Open Parking

Additional Features

  • 0.25 Acre Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Port Orchard Subdivision

Listing and Financial Details

  • Assessor Parcel Number 02230121342001

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,325

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1984
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3440
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None

Interior Features

  • Possible Use: Residential
  • Fireplace: No
  • Flooring: Vinyl
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 8
  • Open Parking: Yes
  • Total Parking Spaces: 8
  • ParkingUncoveredSpaces: 8

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: City
  • WaterCompany: City
  • WaterSewerGarbage: 7944

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: South Kitsap

Lot Info

  • Parcel Number: 02230121342001
  • Lot Size Acres: 0.25
  • Lot Size Sq Ft: 10890
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Realist
  • ZoningClass: Residential

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 12.43
  • LeasedItems: None
  • TotalMonthlyIncome: 5600

Multi Family

  • Gross Scheduled Income: 68400
  • Net Operating Income: 52668
  • Number Of Units Total: 4
  • Insurance Expense: 1245
  • Leasable Area: 3440
  • EnergySource: Electric
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2023
  • Tax Annual Amount: 6325

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 2, 2023
Closed on
Nov 21, 2023
Sold by
Hunt Richard S
Bought by
Legacy Property Partners Llc
Seller's Agent
Christopher Sudore
Coldwell Banker Bain
Buyer's Agent
Heidi O'Brien
Martin Real Estate Group
List Price
$849,950
Sold Price
$829,900
Premium/Discount to List
-$20,050
-2.36%
Views
7
Current Estimated Value
$892,626

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$62,726
Avg. Annual Appreciation
3.97%

Purchase Details

Closed on
Apr 25, 2023
Sold by
Hunt Michelle and Hunt Richard S
Bought by
Hunt Richard S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$634,451
Interest Rate
6.6%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 10, 2017
Closed on
Jul 24, 2017
Sold by
Tomick Llc
Bought by
Hunt Richard S
Seller's Agent
Joan Taie
Great Northwest Real Estate
Buyer's Agent
Kristina Togia
Windermere RE West Sound Inc.
List Price
$550,000
Sold Price
$487,000
Premium/Discount to List
-$63,000
-11.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.69%
Original Mortgage
$365,250
Interest Rate
3.88%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 8, 2013
Closed on
Feb 5, 2014
Sold by
Garcia Teresa A
Bought by
Tomick Llc
Seller's Agent
Lou Ann Quast
Paramount Real Estate Group
Buyer's Agent
Leslie Rose
R1 Washington
List Price
$310,000
Sold Price
$290,000
Premium/Discount to List
-$20,000
-6.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.11%
Original Mortgage
$435,000
Interest Rate
4.49%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 17, 2013
Sold by
Jameson Place Llc
Bought by
Garcia Teresa A

Purchase Details

Closed on
Jul 29, 2011
Sold by
Yamamura Jon T and Yamamura Teresa A
Bought by
Jameson Place Llc

Purchase Details

Closed on
Apr 21, 2010
Sold by
Kitsap County Consolidated Housing Autho
Bought by
Yamamura Jon T and Yamamura Teresa A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
4.92%
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
Legacy Property Partners Llc $829,900 Aegis Land Title
Hunt Richard S -- Fidelity National Title
Hunt Richard S $487,000 Attorneys Title Of Kitsap
Tomick Llc $290,280 Land Title
Garcia Teresa A -- None Available
Jameson Place Llc -- None Available
Yamamura Jon T -- Pacific Nw Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Hunt Richard S $634,451
Previous Owner Hunt Richard S $365,250
Previous Owner Tomick Llc $435,000
Previous Owner Yamamura Jon T $220,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/22/2023 11/22/23 Sold $829,900 -2.4% $241 / Sq Ft
11/08/2023 11/08/23 Pending -- -- --
11/02/2023 11/02/23 For Sale $849,950 +74.5% $247 / Sq Ft
08/01/2017 08/01/17 Sold $487,000 -11.5% $142 / Sq Ft
05/24/2017 05/24/17 Pending -- -- --
05/18/2017 05/18/17 For Sale $550,000 0.0% $160 / Sq Ft
05/07/2017 05/07/17 Pending -- -- --
04/10/2017 04/10/17 For Sale $550,000 +89.7% $160 / Sq Ft
02/11/2014 02/11/14 Sold $290,000 -6.5% $84 / Sq Ft
12/20/2013 12/20/13 Pending -- -- --
11/08/2013 11/08/13 For Sale $310,000 -- $90 / 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
2026 $6,558 $851,230 $80,000 $771,230
2025 $6,558 $751,660 $65,460 $686,200
2024 $6,330 $751,660 $65,460 $686,200
2023 $6,325 $751,660 $65,460 $686,200
2022 $6,827 $683,000 $61,130 $621,870
2021 $5,832 $553,080 $56,810 $496,270
2020 $5,252 $482,980 $54,100 $428,880
2019 $4,557 $458,800 $53,120 $405,680
2018 $4,415 $340,180 $53,120 $287,060
2017 $3,727 $340,180 $53,120 $287,060
2016 $3,455 $291,940 $53,120 $238,820
2015 $3,319 $285,050 $53,120 $231,930
2014 -- $280,450 $53,120 $227,330
2013 -- $273,350 $55,920 $217,430
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2176806

Northwest Multiple Listing Service (NWMLS)

APN: 022301-2-134-2001