Listed by Gateway Real Estate, Bought with Real Broker LLC
NOT LISTED FOR SALE

613 176th St S Unit 615 Spanaway, WA 98387

Estimated Value: $525,000 - $577,000

4 Beds
3 Baths
1,998 Sq Ft
$275/Sq Ft Est. Value

Last Sold July 17, 2024

Last sale price $520,000 $260 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $3,381/month

28 Days on Market

Highlights

  • RV Access or Parking
  • No HOA
  • Baseboard Heating
  • Territorial View
  • Patio
  • Property is Fully Fenced

About This Home

As of July 2024

Attention all Investors! Townhouse-style duplex on a HUGE lot. Units are 2 bedrooms 2 bathrooms. Interior features include a high ceiling, a breakfast nook off the kitchen, a refrigerator, dishwasher, range, oven plus ceiling fans, and double-door closets in bedrooms. The building is centrally located off Pacific Avenue blocks from Spanaway Lake and Spanaway Park. The exterior boasts a newer roof approximately 2 yr old, a patio, a privacy fence, and a fully fenced rear yard. Each unit offers a one-car garage and plenty of off-street parking! Value-added opportunity.

Last Agent to Sell the Property

Jon Watson

Gateway Real Estate License #2592 Listed on: 05/10/2024

Gateway Real Estate

Last Buyer's Agent

Josean Rivera

Real Broker LLC License #140147

Real Broker LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2234511

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,827

Year Built

  • Built in 1978

Lot Details

  • 0.29 Acre Lot
  • Property is Fully Fenced
  • Property is in average condition

Home Design

  • Duplex
  • Slab Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 1,998 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 10 Parking Spaces
  • 2 Covered Spaces
  • Open Parking
  • RV Access or Parking

Outdoor Features

  • Patio

Utilities

  • Baseboard Heating
  • Septic Tank
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Lake Park Condos
  • Spanaway Subdivision

Listing and Financial Details

  • Tax Lot 4
  • Assessor Parcel Number 502510-004-0

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,827

Year Built

Built in 1978

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1978
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Lake Park
  • New Construction: No
  • CalculatedSquareFootage: 1998
  • EffectiveYearBuiltSource: Public Records
  • 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
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0

Exterior Features

  • Roof: Composition, See Remarks
  • View: Territorial
  • Lot Features: Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Slab
  • Property Condition: Average
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 8
  • Open Parking: Yes
  • Parking Features: RV Parking
  • Total Parking Spaces: 10
  • ParkingUncoveredSpaces: 8

Utilities

  • Sewer: Septic Tank
  • Water Source: Public
  • Security: PartiallyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: PSE
  • WaterCompany: Spanaway
  • WaterSewerGarbage: 769

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

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

Lot Info

  • Parcel Number: 502510-004-0
  • Lot Size Acres: 0.2872
  • Lot Size: 12,510
  • Lot Size Sq Ft: 12510
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Fully,Patio,RV Parking
  • MLSLotSizeSource: Tax Records
  • MLSSquareFootageSource: Tax
  • ZoningJurisdiction: County
  • ZoningClass: Multi-Family
  • LotNumber: 4

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 12.38
  • LeasedItems: None
  • TotalMonthlyIncome: 3500

Multi Family

  • Gross Scheduled Income: 42000
  • Net Operating Income: 34454
  • Number Of Units Total: 2
  • Insurance Expense: 968
  • Leasable Area: 1998
  • EnergySource: Electric
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2023
  • Tax Annual Amount: 5827

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2024
Closed on
Jul 15, 2024
Sold by
Smith Robert E and Smith Valle K
Bought by
Chan Elbert K
Seller's Agent
Jon Watson
Gateway Real Estate
Buyer's Agent
Josean Rivera
Real Broker LLC
List Price
$520,000
Sold Price
$520,000
Views
22
Current Estimated Value
$549,165

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$29,165
Avg. Annual Appreciation
3.95%
Original Mortgage
$364,000
Outstanding Balance
$360,614
Interest Rate
6.99%
Mortgage Type
New Conventional
Estimated Equity
$184,355
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
Chan Elbert K $520,000 First American Title Insurance
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chan Elbert K $364,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/17/2024 07/17/24 Sold $520,000 0.0% $260 / Sq Ft
06/07/2024 06/07/24 Pending -- -- --
06/03/2024 06/03/24 For Sale $520,000 0.0% $260 / Sq Ft
05/23/2024 05/23/24 Pending -- -- --
05/10/2024 05/10/24 For Sale $520,000 -- $260 / 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 $5,640 $508,900 $203,800 $305,100
2024 $5,640 $519,300 $194,400 $324,900
2023 $5,640 $481,400 $178,900 $302,500
2022 $5,343 $507,000 $178,900 $328,100
2021 $4,860 $342,700 $103,700 $239,000
2019 $3,456 $290,000 $88,000 $202,000
2018 $3,753 $280,600 $78,900 $201,700
2017 $3,371 $237,600 $66,100 $171,500
2016 $3,138 $210,700 $50,300 $160,400
2014 $1,251 $183,600 $49,400 $134,200
2013 $1,251 $156,400 $43,200 $113,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2234511

Northwest Multiple Listing Service (NWMLS)

APN: 502510-0040