Listed by Windermere Real Estate/East, Bought with Best Choice Realty LLC
NOT LISTED FOR SALE

1505 E 38th St Unit 1-4 Tacoma, WA 98404

Eastside Neighborhood

Estimated Value: $898,000 - $906,815

8 Beds
4 Baths
3,413 Sq Ft
$264/Sq Ft Est. Value

Last Sold June 28, 2023

Last sale price $845,000 $248 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $5,476/month

32 Days on Market

Highlights

  • Territorial View
  • Cul-De-Sac
  • High Speed Internet
  • No HOA
  • Baseboard Heating
  • Wood Siding

About This Home

As of June 2023

GREAT INVESTMENT OPPORTUNITY with this turnkey Tacoma Fourplex! Ability to owner occupy with 3 out of 4 units rented. One of the units is month-to-month and the other two have leases with solid tenants. Vacant unit remodeled in 2023 & can command peak rent for area. Remodel included kitchen & bath overhaul with modern white cabinetry/quartz counters & LVP flooring throughout. Extra $1200 a year from coin operated laundry, plus two storage rooms can be rented for extra income. Private and tucked off the street with 6 parking spots. Conveniently located near freeway access, bus lines, City Center, UW Tacoma & more! POTENTIAL TO ASSUME VA LOAN AT 2.25% if Buyer is VA eligible and plans to owner occupy.

Last Agent to Sell the Property

Eva Croasdale

Windermere Real Estate/East License #123376 Listed on: 04/18/2023

Windermere Real Estate/East

Last Buyer's Agent

Fen Ting Chen

Best Choice Realty LLC License #23012869

Best Choice Realty LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2057148

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,468

Year Built

  • Built in 1980 | Remodeled

Lot Details

  • 9,467 Sq Ft Lot
  • Cul-De-Sac
  • Street terminates at a dead end

Home Design

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

Interior Spaces

  • 3,413 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Parking

  • 6 Parking Spaces
  • Open Parking

Utilities

  • Baseboard Heating
  • High Speed Internet
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Tacoma Subdivision

Listing and Financial Details

  • Assessor Parcel Number 210050030

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,468

Year Built

Built in 1980 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1980
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3413
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate, Vinyl, Carpet
  • Interior Amenities: Laminate Hardwood, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry,Storage

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Cul-De-Sac, Dead End Street, Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Remodeled
  • Structure Type: Quadruplex

Garage/Parking

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

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: Tacoma Public Utilities
  • SewerCompany: Tacoma Public Utilities
  • WaterCompany: Tacoma Public Utilities
  • CableConnected: Xfinity
  • InternetConnected: Xfinity
  • WaterSewerGarbage: 7200

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Tacoma
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 210050030
  • Lot Size Acres: 0.2173
  • Lot Size Sq Ft: 9467
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,High Speed Internet
  • MLSLotSizeSource: County Records
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 12
  • LeasedItems: None
  • TotalMonthlyIncome: 6075

Multi Family

  • Gross Scheduled Income: 72900
  • Net Operating Income: 53932
  • Number Of Units Total: 4
  • Insurance Expense: 2000
  • Leasable Area: 3413
  • EnergySource: Electric
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 4

Tax Info

  • Year: 2023
  • Tax Annual Amount: 7468

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 18, 2023
Closed on
Jun 27, 2023
Sold by
Jamerson Frank Anthony-Pejeaud
Bought by
Chen Qi Ming and Chen Fen Ting
Seller's Agent
Eva Croasdale
Windermere Real Estate/East
Buyer's Agent
Fen Ting Chen
Best Choice Realty LLC
List Price
$875,000
Sold Price
$845,000
Premium/Discount to List
-$30,000
-3.43%
Views
67
Current Estimated Value
$902,408

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$57,408
Avg. Annual Appreciation
2.96%
Original Mortgage
$480,000
Outstanding Balance
$468,158
Interest Rate
6.38%
Mortgage Type
New Conventional
Estimated Equity
$434,250

Purchase Details

Listed on
Apr 18, 2023
Closed on
Jun 2, 2023
Sold by
Wang Yuying
Bought by
Chen Qi Ming
Seller's Agent
Eva Croasdale
Windermere Real Estate/East
Buyer's Agent
Fen Ting Chen
Best Choice Realty LLC
List Price
$875,000
Sold Price
$845,000
Premium/Discount to List
-$30,000
-3.43%
Views
67

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$480,000
Outstanding Balance
$468,158
Interest Rate
6.38%
Mortgage Type
New Conventional
Estimated Equity
$434,250

Purchase Details

Listed on
Mar 22, 2020
Closed on
Apr 16, 2020
Sold by
5 Star Homes Llc
Bought by
Jamerson Frank A
Seller's Agent
Grace Wang
VerraTerra
Buyer's Agent
Aaron Nelson
Skyline Properties, Inc.
List Price
$650,000
Sold Price
$640,000
Premium/Discount to List
-$10,000
-1.54%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.13%
Original Mortgage
$617,120
Interest Rate
3.3%
Mortgage Type
VA

Purchase Details

Listed on
Apr 5, 2018
Closed on
Apr 30, 2018
Sold by
Tang Pauline Man Ckun
Bought by
5 Star Homes Llc
Seller's Agent
Nicholas Vilvandre'
Keller Williams Downtown Sea
Buyer's Agent
Sarah Noet
Best Choice Network LLC
List Price
$424,800
Sold Price
$428,700
Premium/Discount to List
$3,900
0.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
22.43%
Original Mortgage
$344,000
Interest Rate
4.45%
Mortgage Type
Commercial

Purchase Details

Listed on
Nov 17, 2015
Closed on
May 16, 2016
Sold by
Mccullah Ron D and Mccullah Traci D
Bought by
Tang Pauline Man Chun
Seller's Agent
Ron MC
Dove Realty, Inc.
Buyer's Agent
Rachelle Willhite
Best Choice Realty LLC
List Price
$327,500
Sold Price
$314,000
Premium/Discount to List
-$13,500
-4.12%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.41%

Purchase Details

Closed on
Apr 17, 2008
Sold by
Tran Huy
Bought by
Mccullah Ron D and Mccullah Traci D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$239,250
Interest Rate
5.99%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 3, 2007
Sold by
Tyler Skipper
Bought by
Tran Huy

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$271,150
Interest Rate
6.3%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Apr 27, 2005
Sold by
Marshall Thomas Andrew and Marshall Thomas A
Bought by
Tyler Skipper
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Chen Qi Ming $845,000 Chicago Title
Chen Qi Ming -- Chicago Title
Jamerson Frank A $640,000 Ticor
5 Star Homes Llc $428,419 Chicago Title
Tang Pauline Man Chun $313,719 Puget Sound Title
Mccullah Ron D $319,000 Puget Sound Title Company
Tran Huy $319,000 Lawyers Title Agency Of Sout
Tyler Skipper $1,200,000 Lawyers Title Agency Of Sout
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chen Qi Ming $480,000
Previous Owner Jamerson Frank A $617,120
Previous Owner 5 Star Homes Llc $344,000
Previous Owner Mccullah Ron D $239,250
Previous Owner Tran Huy $271,150
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2023 06/28/23 Sold $845,000 -3.4% $248 / Sq Ft
05/20/2023 05/20/23 Pending -- -- --
05/10/2023 05/10/23 For Sale $875,000 0.0% $256 / Sq Ft
04/22/2023 04/22/23 Pending -- -- --
04/18/2023 04/18/23 For Sale $875,000 +36.7% $256 / Sq Ft
04/23/2020 04/23/20 Sold $640,000 -1.5% $188 / Sq Ft
03/24/2020 03/24/20 Pending -- -- --
03/22/2020 03/22/20 For Sale $650,000 +51.6% $190 / Sq Ft
05/02/2018 05/02/18 Sold $428,700 +0.9% $126 / Sq Ft
04/08/2018 04/08/18 Pending -- -- --
04/05/2018 04/05/18 For Sale $424,800 +35.3% $124 / Sq Ft
05/24/2016 05/24/16 Sold $314,000 -4.1% $92 / Sq Ft
04/12/2016 04/12/16 Pending -- -- --
11/17/2015 11/17/15 For Sale $327,500 -- $96 / 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
2025 $8,286 $798,500 $191,800 $606,700
2024 $8,286 $783,800 $184,500 $599,300
2023 $8,286 $745,000 $171,900 $573,100
2022 $7,249 $719,700 $183,300 $536,400
2021 $6,652 $529,700 $114,500 $415,200
2019 $5,324 $445,600 $95,400 $350,200
2018 $5,130 $409,900 $76,400 $333,500
2017 $4,350 $324,900 $59,800 $265,100
2016 $3,532 $215,700 $40,000 $175,700
2014 $2,889 $203,200 $38,800 $164,400
2013 $2,889 $174,600 $34,100 $140,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2057148

Northwest Multiple Listing Service (NWMLS)

APN: 210050-0030