NOT LISTED FOR SALE

3118 Morrison Rd W Unit A-D University Place, WA 98466

Estimated Value: $1,535,017

12 Beds
7 Baths
4,704 Sq Ft
$326/Sq Ft Est. Value

Last Sold February 03, 2022

Last sale price $1,440,500 $306 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $9,721/month

185 Days on Market

Highlights

  • Deck
  • Territorial View
  • Wood Siding
  • Evergreen Primary School Rated A
  • Partially Fenced Property
  • Wall to Wall Carpet

About This Home

As of February 2022

Effective 11/1, NEW Cap Rate of 5.3%. Amazing opportunity to own this tenant-occupied 4-plex in University Place! Ideally located in the highly desired UP School District & walkable to shopping & transit. Each 3-bed, 1.75 bath unit has an identical layout & includes an open kitchen w/ eating space, separate dining area, spacious living room w/ fireplace, laundry area, a covered deck w/ storage, plus all appliances are included. Tenants love the unique layout that offers extra privacy via a separate hall to the master suite w/ attached bath. Outside find plenty of parking including 4 covered spots & large common area. Units have been fully occupied for 8 years, all tenants current & no vacancies. Rents increase to $2,030/month on 11/1/2021.

Last Listed By

Chad Goelzer

Keller Williams Realty PS License #26954 Listed on: 06/16/2021

Keller Williams Realty PS

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1789722

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,220

Year Built

  • Built in 1988

Lot Details

  • 0.38 Acre Lot
  • Lot Dimensions are 101' x 164' x 99' x 164'
  • Partially Fenced Property
  • Property is in good condition

Home Design

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

Interior Spaces

  • 4,704 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Parking

  • 7 Parking Spaces
  • Open Parking

Additional Features

  • Deck
  • Cable TV Available

Community Details

  • University Place Subdivision

Listing and Financial Details

  • Assessor Parcel Number 0220104037

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,220

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1988
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 4704
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour
  • Cumulative Days on Market: 432

Interior Features

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

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Spaces: 4
  • Carport Y N: No
  • Open Parking Spaces: 3
  • Open Parking: Yes
  • Total Parking Spaces: 7
  • ParkingUncoveredSpaces: 3

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, Sewer Connected, Electric, Wood
  • PowerCompany: TPU
  • SewerCompany: Pierce County Sewer
  • WaterCompany: TPU
  • WaterSewerGarbage: 7720

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: University Place
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 0220104037
  • Lot Size Acres: 0.38
  • Lot Size: 101' x 164' x 99' x 164'
  • Lot Size Sq Ft: 16553
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially
  • MLSLotSizeSource: Realist
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric, Wood

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 15
  • LeasedItems: None
  • TotalMonthlyIncome: 8120

Multi Family

  • Gross Scheduled Income: 97440
  • Net Operating Income: 76712
  • Number Of Units Total: 4
  • Insurance Expense: 1788
  • Leasable Area: 4704
  • EnergySource: Electric,Wood
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2021
  • Tax Annual Amount: 11220

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 30, 2024
Sold by
Petlovany Michael James and Petlovany Cari Rae
Bought by
Mike Petlovany And Cari Petlovany Living Trus
Total Days on Market
185
Current Estimated Value
$1,535,017

Purchase Details

Listed on
Jun 16, 2021
Closed on
Jan 31, 2022
Sold by
Wilcox Nicholas A
Bought by
Petlovany Cari Rae and Petlovany Michael James
Seller's Agent
Chad Goelzer
Keller Williams Realty PS
Buyer's Agent
Brooke Bakogeorge
HomeSmart Real Estate Assoc
List Price
$1,450,000
Sold Price
$1,440,500
Premium/Discount to List
-$9,500
-0.66%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.43%
Original Mortgage
$1,065,750
Interest Rate
3.55%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 22, 2012
Sold by
Brooks Julie
Bought by
Wilcox Nicholas A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$226,400
Interest Rate
3.84%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 15, 2004
Sold by
Cowan Arthur V
Bought by
Brooks Julie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$257,600
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 24, 2003
Sold by
Cowan Arthur N
Bought by
Cowan Arthur and Brooks Julie

Purchase Details

Closed on
Aug 8, 2002
Sold by
Kawabata Yosh
Bought by
Cowan Arthur N

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$263,200
Interest Rate
6.51%
Mortgage Type
Commercial

Purchase Details

Closed on
May 23, 1997
Sold by
Mateo Efren Viloria and Abad Mateo Evelyn Espiritu
Bought by
Kawabata Yosh and Kawabata Mary A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
8.14%
Mortgage Type
Commercial

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
Mike Petlovany And Cari Petlovany Living Trus -- None Listed On Document
Petlovany Cari Rae $1,440,219 Wfg National Title Company Of
Wilcox Nicholas A $282,000 Wfg National Title Company
Brooks Julie $153,651 Pnwt
Cowan Arthur $110,000 --
Cowan Arthur N $329,000 --
Kawabata Yosh $290,849 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Petlovany Cari Rae $1,065,750
Previous Owner Petlovany Cari Rae $1,065,750
Previous Owner Wilcox Nicholas A $226,400
Previous Owner Brooks Julie $257,600
Previous Owner Cowan Arthur N $263,200
Previous Owner Kawabata Yosh $160,000
Closed Cowan Arthur N $49,300
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/03/2022 02/03/22 Sold $1,440,500 -0.7% $306 / Sq Ft
12/18/2021 12/18/21 Pending -- -- --
10/31/2021 10/31/21 For Sale $1,450,000 0.0% $308 / Sq Ft
10/21/2021 10/21/21 Pending -- -- --
06/16/2021 06/16/21 For Sale $1,450,000 -- $308 / 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 $14,035 $1,235,900 $347,700 $888,200
2023 $14,035 $1,195,800 $323,900 $871,900
2022 $11,986 $1,210,600 $323,900 $886,700
2021 $11,220 $814,200 $221,800 $592,400
2019 $7,868 $638,800 $188,300 $450,500
2018 $8,682 $607,700 $161,300 $446,400
2017 $7,343 $554,800 $133,700 $421,100
2016 $6,295 $395,600 $101,800 $293,800
2014 $2,929 $358,900 $94,900 $264,000
2013 $2,929 $337,700 $86,200 $251,500
Source: Public Records

Agents Affiliated with this Home

  • Chad Goelzer

    Seller's Agent in 2022

    Chad Goelzer

    Keller Williams Realty PS

    (253) 376-6347

    4 in this area

    145 Total Sales

    Chad Goelzer
    Section Image
  • Brooke Bakogeorge

    Buyer's Agent in 2022

    Brooke Bakogeorge

    HomeSmart Real Estate Assoc

    (360) 332-9439

    1 in this area

    10 Total Sales

    Brooke Bakogeorge
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1789722

Northwest Multiple Listing Service (NWMLS)

APN: 022010-4037

Washington Pierce County University Place 98466

3118 Morrison Rd W Unit A-D, University Place, WA

Homes for Sale in University Place, WA

This home is located at 3118 Morrison Rd W Unit A-D, University Place, WA 98466 since 16 June 2021 and is currently estimated at $1,535,017, approximately $326 per square foot. This property was built in 1988. 3118 Morrison Rd W Unit A-D is a home located in Pierce County with nearby schools including Evergreen Primary School, Sunset Primary School, and Drum Intermediate School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. ©2025 NWMLS.

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