Listed by Keller Williams Rty Tacoma
NOT LISTED FOR SALE

1905 87th Avenue Ct W University Place, WA 98466

Estimated Value: $662,952 - $806,000

4 Beds
2 Baths
-- Sq Ft
1.34 Acres

Last Sold October 23, 2019

Last sale price $1,750,000

Current estimated payment $4,361/month

120 Days on Market

Highlights

  • 1.34 Acre Lot
  • Deck
  • Partially Fenced Property
  • University Place Primary School Rated A
  • Cul-De-Sac
  • Wood Siding

About This Home

As of October 2019

Rare investment opportunity! Four University Place duplexes situated in a private cul-de-sac off of South 19th near the Marina. Short walk to the beach, park or fine dining. These 8 units have cathedral ceilings and spacious floor plans. Units are updated and in turn-key condition. Extra detached 4 car garage perfect for contractor or car enthusiast. A beautiful creek flows through the property. Rents are low for this area. All 8 units have 2 bedrooms; 4 with 1 bath, 4 with 1.5 bath.

Last Agent to Sell the Property

Tom Byrne

Keller Williams Rty Tacoma License #35469 Listed on: 05/10/2019

Keller Williams Rty Tacoma

Co-Listed By

Mark Hulen

Better Properties Real Estate License #50093

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1454459

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,560

Year Built

  • Built in 1979

Lot Details

  • 1.34 Acre Lot
  • Cul-De-Sac
  • Partially Fenced Property
  • Property is in good condition

Home Design

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

Interior Spaces

  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 20 Parking Spaces
  • 8 Covered Spaces
  • Open Parking

Outdoor Features

  • Deck
  • Outbuilding

Schools

  • University Pl Primar Elementary School
  • Curtis Jnr High Middle School
  • Curtis Snr High School

Community Details

  • University Place Subdivision

Listing and Financial Details

  • Assessor Parcel Number 0220095014

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,560

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1979
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 0
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: 2.5
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Playground

Exterior Features

  • Roof: Composition
  • Lot Features: Cul-De-Sac, Paved
  • View: No
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Duplex
  • ConstructionMethods: Standard Frame

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 8
  • Open Parking Spaces: 12
  • Open Parking: Yes
  • Total Parking Spaces: 20
  • ParkingUncoveredSpaces: 12

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • PowerCompany: TPU
  • SewerCompany: TPU
  • WaterCompany: TPU
  • WaterSewerGarbage: 7656

Condo/Co-op/Association

  • Association Fee Frequency: Annually

Schools

  • Junior High Dist: University Place
  • High School: Curtis Snr High
  • Middle Or Junior School: Curtis Jnr High

Lot Info

  • Parcel Number: 0220095014
  • Lot Size Acres: 1.34
  • Lot Size Sq Ft: 58372
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Fenced-Partially,Outbuildings,Shop
  • MLSLotSizeSource: Public Record
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 13
  • LeasedItems: None
  • TotalMonthlyIncome: 11700

Multi Family

  • Gross Scheduled Income: 137400
  • Net Operating Income: 107453
  • Number Of Units Total: 8
  • Electric Expense: 336
  • Insurance Expense: 5395
  • Leasable Area: 8768
  • UnitsInBuildingTotal: 8
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2018
  • Tax Annual Amount: 19560

MLS Schools

  • Elementary School: University Pl Primar

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 12, 2020
Sold by
Lorenzo Grace A and Lorenzo Grace
Bought by
Longo Investments Ii Llc
Current Estimated Value
$713,488

Purchase Details

Listed on
May 10, 2019
Closed on
Oct 17, 2019
Sold by
The Holden Revocable Trust
Bought by
Lorenzo Grace
Seller's Agent
Tom Byrne
Keller Williams Rty Tacoma
List Price
$1,900,000
Sold Price
$1,750,000
Premium/Discount to List
-$150,000
-7.89%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-14.63%
Original Mortgage
$287,000
Interest Rate
3.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 19, 2018
Sold by
University Place Duplex Llc
Bought by
Holden Eloise and Holden Revocable Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$275,000
Interest Rate
4.4%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 26, 2017
Sold by
Enslow Kenneth F and Enslow Evelyn
Bought by
University Place Duplex Llc
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
Longo Investments Ii Llc -- None Available
Lorenzo Grace $410,000 Fidelity Natl Ttl Co Of Wa I
Holden Eloise $384,719 Fidelity National Title
University Place Duplex Llc -- Attorneys Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lorenzo Grace $287,000
Previous Owner Holden Eloise $275,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/23/2019 10/23/19 Sold $1,750,000 -5.4% --
09/07/2019 09/07/19 Pending -- -- --
06/05/2019 06/05/19 Price Changed $1,850,000 -2.6% --
05/10/2019 05/10/19 For Sale $1,900,000 -- --
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 $6,940 $666,100 $313,200 $352,900
2024 $6,940 $601,300 $308,400 $292,900
2023 $6,940 $578,700 $308,600 $270,100
2022 $6,605 $595,000 $322,700 $272,300
2021 $5,850 $417,600 $207,800 $209,800
2019 $4,654 $390,300 $185,800 $204,500
2018 $4,358 $354,000 $163,700 $190,300
2017 $4,358 $309,000 $135,800 $173,200
2016 $4,027 $244,300 $106,900 $137,400
2014 $3,563 $226,600 $99,300 $127,300
2013 $3,563 $208,500 $89,100 $119,400
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1454459

Northwest Multiple Listing Service (NWMLS)

APN: 022009-5014