Listed by Professional Realty Svcs Int'l, Bought with Realty ONE Group Orca Gold
NOT LISTED FOR SALE

18018 28th St E Lake Tapps, WA 98391

Estimated Value: $734,000 - $1,621,000

5 Beds
6 Baths
4,408 Sq Ft
$267/Sq Ft Est. Value

Last Sold July 26, 2013

Last sale price $650,000 $147 Per Sq Ft

Est. 81% increase in value since last sale

Current estimated payment $7,340/month

10 Days on Market

Highlights

  • Lake Front
  • Docks
  • Deck
  • Dieringer Heights Elementary School Rated A-
  • RV Access or Parking
  • Secluded Lot

About This Home

As of July 2013

Once in a lifetime opportunity to own this Lake Tapps Waterfront Triplex! 3 separately metered rental units with 2 parking spaces each. Potential for increased rental income with boat lift and garage space. Boat launch, multiple balconies with outstanding views of the lake and Mt Rainier. Multi level deck and dock constructed of Brazilian ironwood will provide years of trouble free service. Property and grounds are well maintained, all appliances included and ready for your new tenants.

Last Agent to Sell the Property

Brett Tousley

Professional Realty Svcs Int'l License #23253 Listed on: 06/12/2013

Professional Realty Svcs Int'l

Last Buyer's Agent

Boe Avila

Realty ONE Group Orca Gold License #80853

Realty ONE Group Orca Gold

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 501103

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,850

Year Built

  • Built in 1988

Lot Details

  • 0.49 Acre Lot
  • Lake Front
  • Gated Home
  • Secluded Lot
  • Sprinkler System
  • Property is in good condition

Property Views

  • Lake
  • Mountain

Home Design

  • Triplex
  • Poured Concrete
  • Shake Roof
  • Wood Siding

Interior Spaces

  • 4,408 Sq Ft Home
  • 4-Story Property

Flooring

  • Wood
  • Wall to Wall Carpet
  • Vinyl

Parking

  • 6 Parking Spaces
  • 1 Covered Space
  • Open Parking
  • RV Access or Parking

Outdoor Features

  • Bulkhead
  • Docks
  • Deck
  • Patio
  • Outbuilding

Schools

  • Lake Tapps Elementary School
  • North Tapps Mid Middle School
  • Out Of District High School

Utilities

  • Septic Tank
  • Septic System
  • High Speed Internet
  • Cable TV Available

Community Details

  • Driftwood Point Subdivision

Listing and Financial Details

  • Assessor Parcel Number 0520084023

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,850

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1988
  • Buyer Agency Compensation: 3%
  • MLS Status: Sold
  • Prev Status: Closed
  • CalculatedSquareFootage: 4408
  • Special Features: None

Interior Features

  • Fireplace: No
  • Flooring: Hardwood, Vinyl, Carpet
  • Interior Amenities: Hardwood, Wall to Wall Carpet
  • Stories: 4
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Cedar Shake
  • View: Lake, Mountain(s)
  • Lot Features: Paved, Secluded
  • View: Yes
  • Waterfront Features: Bulkhead, Lake, No Bank
  • Waterfront: Yes
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Triplex

Garage/Parking

  • Carport Spaces: 5
  • Carport Y N: No
  • Covered Parking Spaces: 1
  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Parking Features: RV Parking
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 6

Utilities

  • Sewer: Septic Tank
  • Water Source: Public
  • Security: SecurityGate
  • Heating Yn: Yes
  • Utilities: Cable Connected, High Speed Internet, Septic System, Electric
  • WaterSewerGarbage: 1296

Schools

  • Junior High Dist: Dieringer
  • High School: Out of District
  • Middle Or Junior School: North Tapps Mid

Lot Info

  • Parcel Number: 0520084023
  • Lot Size Acres: 0.4892
  • Lot Size Sq Ft: 21310
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Dock,Gated Entry,High Speed Internet,Outbuildings,Patio,RV Parking,Sprinkler System

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 10
  • LeasedItems: None
  • TotalMonthlyIncome: 5400

Multi Family

  • Gross Scheduled Income: 64800
  • Net Operating Income: 47194
  • Number Of Units Total: 3
  • Electric Expense: 480
  • Insurance Expense: 1500
  • Leasable Area: 4408
  • UnitsInBuildingTotal: 3
  • UnitsBelowGrade: true
  • VacancyRate: 10

Tax Info

  • Year: 2013
  • Tax Annual Amount: 7850

MLS Schools

  • Elementary School: Lake Tapps Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 17, 2023
Sold by
Fong James and Fong Teresita
Bought by
Fong Family Revocable Living Trust and Fong
Current Estimated Value
$1,177,500

Purchase Details

Listed on
Jun 12, 2013
Closed on
Jul 23, 2013
Sold by
Connell William O
Bought by
Fong James and Fong Teresita
Seller's Agent
Brett Tousley
Professional Realty Svcs Int'l
Buyer's Agent
Boe Avila
Realty ONE Group Orca Gold
List Price
$650,000
Sold Price
$650,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.51%
Original Mortgage
$487,500
Interest Rate
3.98%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 19, 2005
Sold by
Sides Richard R
Bought by
Sides Richard R and Sides Dolores H
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
Fong Family Revocable Living Trust -- None Listed On Document
Fong James $650,000 First American Title Ins Co
Sides Richard R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Fong James $487,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/26/2013 07/26/13 Sold $650,000 0.0% $147 / Sq Ft
06/23/2013 06/23/13 Pending -- -- --
06/12/2013 06/12/13 For Sale $650,000 -- $147 / 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 $13,167 $1,332,200 $762,200 $570,000
2024 $13,167 $1,328,500 $791,000 $537,500
2023 $13,167 $1,279,100 $834,300 $444,800
2022 $11,853 $1,218,000 $769,300 $448,700
2021 $12,510 $926,100 $547,200 $378,900
2019 $11,332 $864,000 $503,200 $360,800
2018 $12,614 $859,300 $503,200 $356,100
2017 $10,649 $788,900 $463,600 $325,300
2016 $8,766 $615,500 $320,200 $295,300
2014 $3,925 $547,100 $289,700 $257,400
2013 $3,925 $486,300 $256,200 $230,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 501103

Northwest Multiple Listing Service (NWMLS)

APN: 052008-4023