Listed by Better Properties UP/Fircrest, Bought with eXp Realty
NOT LISTED FOR SALE

1405 Lapush Way NE Unit A Olympia, WA 98516

Meadows Neighborhood

Estimated Value: $537,969 - $621,000

4 Beds
4 Baths
2,280 Sq Ft
$253/Sq Ft Est. Value

Last Sold December 14, 2015

Last sale price $219,000 $96 Per Sq Ft

Est. 163% increase in value since last sale

Current estimated payment $3,500/month

57 Days on Market

Highlights

  • Deck
  • Territorial View
  • Thermal Windows
  • Meadows Elementary School Rated A-
  • Corner Lot
  • Open Space

About This Home

As of December 2015

Spectacular easy living in much sought after Tangelwilde Estates. This well kept low maintenance duplex is an investors dream with strong cash flow and no move outs. Seller says in 10 years the occupancy has been steady and constant. Close to shopping and schools but tucked away in a great neighborhood. You can live in one side, rent the other or keep them both full and let the funds roll in. Tenants are on a month to month so it is easy any way you choose. Great Multi Family at a great price!

Last Agent to Sell the Property

Art Russo

Better Properties UP/Fircrest License #115078 Listed on: 07/31/2015

Better Properties UP/Fircrest

Co-Listed By

Mark Hulen

Better Properties Real Estate License #50093

Last Buyer's Agent

Timothy Tooker

eXp Realty License #26997

eXp Realty

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 828043

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,532

Year Built

  • Built in 1980

Lot Details

  • 0.29 Acre Lot
  • Open Space
  • Partially Fenced Property
  • Corner Lot

Home Design

  • Duplex
  • Pillar, Post or Pier Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2,280 Sq Ft Home
  • 2-Story Property
  • Thermal Windows
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Parking

  • 6 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Outdoor Features

  • Deck

Utilities

  • High Speed Internet
  • Cable TV Available

Community Details

  • Olympia Subdivision

Listing and Financial Details

  • Assessor Parcel Number 78770009600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,532

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1980
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2280
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet, Laminate Tile
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Storage,Thermal Windows

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Corner Lot, Open Space, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Post & Pillar
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 4
  • Open Parking: Yes
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 4

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, High Speed Internet, Sewer Connected, Electric
  • PowerCompany: PSE
  • SewerCompany: Tanglewild
  • WaterCompany: Lacey
  • WaterSewerGarbage: 0

Schools

  • Junior High Dist: North Thurston
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 78770009600
  • Lot Size Acres: 0.2875
  • Lot Size Sq Ft: 12525
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially,High Speed Internet
  • MLSLotSizeSource: county
  • ZoningJurisdiction: County
  • ZoningClass: Multi-Family

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 9
  • LeasedItems: None
  • TotalMonthlyIncome: 0

Multi Family

  • Gross Scheduled Income: 21120
  • Net Operating Income: 17677
  • Number Of Units Total: 2
  • Insurance Expense: 911
  • Leasable Area: 2280
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2015
  • Tax Annual Amount: 2532

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 19, 2018
Sold by
Smith Kerry and Smith Kathleen
Bought by
Ricoma Karen M
Current Estimated Value
$576,742

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$325,000
Interest Rate
4.9%
Mortgage Type
VA

Purchase Details

Listed on
Jul 31, 2015
Closed on
Dec 10, 2015
Sold by
Hancock Dana E
Bought by
Smith Kerry and Smith Kathleen
Seller's Agent
Art Russo
Better Properties UP/Fircrest
Buyer's Agent
Timothy Tooker
eXp Realty
List Price
$222,500
Sold Price
$219,000
Premium/Discount to List
-$3,500
-1.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.42%
Original Mortgage
$227,053
Interest Rate
3.71%
Mortgage Type
VA

Purchase Details

Closed on
Nov 17, 2004
Sold by
Woods Charles R
Bought by
Hancock Dana E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$159,960
Interest Rate
6%
Mortgage Type
Adjustable Rate Mortgage/ARM
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
Ricoma Karen M $325,000 Thurston County Title Co
Smith Kerry $219,519 Chicago Title Company
Hancock Dana E $199,950 Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Ricoma Karen M $392,000
Closed Ricoma Karen M $325,179
Closed Ricoma Karen M $325,000
Previous Owner Smith Kerry $227,053
Previous Owner Hancock Dana E $187,000
Previous Owner Hancock Dana E $159,960
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/14/2015 12/14/15 Sold $219,000 -1.6% $96 / Sq Ft
09/28/2015 09/28/15 Pending -- -- --
08/01/2015 08/01/15 For Sale $222,500 -- $98 / 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 $5,445 $540,400 $242,500 $297,900
2023 $5,445 $554,600 $208,000 $346,600
2022 $4,284 $468,600 $183,000 $285,600
2021 $4,243 $355,000 $125,200 $229,800
2020 $4,012 $328,000 $83,300 $244,700
2019 $3,182 $318,900 $121,100 $197,800
2018 $3,620 $256,300 $99,200 $157,100
2017 $2,892 $211,400 $57,100 $154,300
2016 $2,532 $208,350 $63,750 $144,600
2014 -- $181,150 $63,750 $117,400
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 828043

Northwest Multiple Listing Service (NWMLS)

APN: 78770009600