Listed by HomeSmart Real Estate Assoc, Bought with Skyline Properties, Inc.
NOT LISTED FOR SALE

507 S Wright Ave Tacoma, WA 98418

South End Neighborhood

Estimated Value: $483,000 - $609,000

3 Beds
3 Baths
1,824 Sq Ft
$289/Sq Ft Est. Value

Last Sold July 07, 2020

Last sale price $350,000 $192 Per Sq Ft

Est. 50% increase in value since last sale

Current estimated payment $3,210/month

83 Days on Market

About This Home

As of July 2020

Turn-of-the-century triplex located minutes to Downtown Tacoma. Property zoned R4L (multi-family). Rents below market, great opportunity to update units and capture a very nice CAP rate!

Last Agent to Sell the Property

Jen Dold

HomeSmart Real Estate Assoc License #74470 Listed on: 03/16/2020

HomeSmart Real Estate Assoc

Co-Listed By

Kent Beahler

HomeSmart Real Estate Assoc License #27459

Last Buyer's Agent

Aaron Nelson

Skyline Properties, Inc. License #127645

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1577711

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,792

Year Built

  • Built in 1895

Lot Details

  • 4,440 Sq Ft Lot
  • Lot Dimensions are 37' x 120'
  • Property is in average condition

Home Design

  • Triplex
  • Composition Roof
  • Wood Composite

Interior Spaces

  • 1,824 Sq Ft Home
  • 2-Story Property
  • Laminate Flooring
  • City Views

Parking

  • 3 Parking Spaces
  • Open Parking
  • RV Access or Parking

Utilities

  • Cable TV Available

Community Details

  • South Tacoma Subdivision

Listing and Financial Details

  • Assessor Parcel Number 208305-007-0

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,792

Year Built

Built in 1895

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1895
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 1824
  • Special Features: None
  • Cumulative Days on Market: 393

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate
  • Interior Amenities: Laminate Hardwood
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: City
  • Lot Features: Alley, Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood Products
  • Property Condition: Average
  • Structure Type: Triplex

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 3
  • Open Parking: Yes
  • Parking Features: RV Parking
  • Total Parking Spaces: 3
  • ParkingUncoveredSpaces: 3

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Cable Connected, Sewer Connected, Electric
  • WaterSewerGarbage: 3150

Schools

  • Junior High Dist: Tacoma

Lot Info

  • Parcel Number: 208305-007-0
  • Lot Size Acres: 0.1019
  • Lot Size: 37' x 120'
  • Lot Size Sq Ft: 4440
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,RV Parking
  • MLSLotSizeSource: Realist
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 12
  • LeasedItems: None
  • TotalMonthlyIncome: 2670

Multi Family

  • Gross Scheduled Income: 32040
  • Net Operating Income: 22992
  • Number Of Units Total: 3
  • Insurance Expense: 1426
  • Leasable Area: 1824
  • UnitsInBuildingTotal: 3
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2019
  • Tax Annual Amount: 2792

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 16, 2020
Closed on
Jun 30, 2020
Sold by
Watson Thomas and Solis Ignacio
Bought by
Palmer Clarence and Palmer Krystin
Seller's Agent
Jen Dold
HomeSmart Real Estate Assoc
Buyer's Agent
Aaron Nelson
Skyline Properties, Inc.
List Price
$400,000
Sold Price
$350,000
Premium/Discount to List
-$50,000
-12.5%
Current Estimated Value
$526,470

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$176,470
Avg. Annual Appreciation
8.31%
Original Mortgage
$262,500
Outstanding Balance
$234,222
Interest Rate
3.2%
Mortgage Type
New Conventional
Estimated Equity
$294,998
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
Palmer Clarence $350,000 Cw Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Palmer Clarence $262,500
Previous Owner Watson Thomas $157,400
Previous Owner Watson Thomas $155,250
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/07/2020 07/07/20 Sold $350,000 -12.5% $192 / Sq Ft
06/07/2020 06/07/20 Pending -- -- --
06/07/2020 06/07/20 For Sale $400,000 +14.3% $219 / Sq Ft
05/01/2020 05/01/20 Off Market $350,000 -- --
04/25/2020 04/25/20 Pending -- -- --
04/19/2020 04/19/20 For Sale $400,000 0.0% $219 / Sq Ft
04/13/2020 04/13/20 Pending -- -- --
04/04/2020 04/04/20 For Sale $400,000 0.0% $219 / Sq Ft
03/21/2020 03/21/20 Pending -- -- --
03/16/2020 03/16/20 For Sale $400,000 -- $219 / 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 $4,366 $425,100 $176,100 $249,000
2024 $4,366 $413,800 $166,300 $247,500
2023 $4,366 $392,000 $158,200 $233,800
2022 $3,855 $393,700 $162,500 $231,200
2021 $3,478 $276,500 $96,700 $179,800
2019 $2,922 $248,200 $80,900 $167,300
2018 $2,791 $224,600 $65,000 $159,600
2017 $2,467 $176,500 $53,400 $123,100
2016 $2,116 $131,400 $39,500 $91,900
2014 $1,866 $121,600 $39,000 $82,600
2013 $1,866 $110,600 $34,200 $76,400
Source: Public Records

Agents Affiliated with this Home

  • Jen Dold

    Seller's Agent in 2020

    Jen Dold

    HomeSmart Real Estate Associates

    (206) 498-7852

    27 Total Sales

    Jen Dold
    Section Image
  • Kent Beahler

    Seller Co-Listing Agent in 2020

    Kent Beahler

    HomeSmart Real Estate Associates

    (253) 228-5247

    3 in this area

    58 Total Sales

    Kent Beahler
    Section Image
  • Aaron Nelson

    Buyer's Agent in 2020

    Aaron Nelson

    Skyline Properties, Inc.

    (425) 906-9080

    5 in this area

    107 Total Sales

    Aaron Nelson
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1577711

Northwest Multiple Listing Service (NWMLS)

APN: 208305-0070

Washington Pierce County Tacoma 98418 South End

507 S Wright Ave, Tacoma, WA

This home is located at 507 S Wright Ave, Tacoma, WA 98418 since 16 March 2020 and is currently estimated at $526,470, approximately $288 per square foot. This property was built in 1895. 507 S Wright Ave is a home located in Pierce County with nearby schools including Lyon, Hunt Middle School, and Lincoln High 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) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. 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. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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