Listed by Virgil Adams Real Estate, Inc., Bought with Van Dorm Realty, Inc
NOT LISTED FOR SALE

Estimated Value: $3,203,526

2 Beds
5 Baths
5,950 Sq Ft
$538/Sq Ft Est. Value

Last Sold May 13, 2020

Last sale price $2,100,000 $353 Per Sq Ft

Est. 53% increase in value since last sale

Current estimated payment $19,803/month

7 Days on Market

Highlights

  • 8.17 Acre Lot
  • High Speed Internet
  • Wood Siding
  • Deck
  • Partially Fenced Property
  • Wall to Wall Carpet

About This Home

As of May 2020

Rare opportunity to own 8.17 acres on Martin Way. Front portion has 225' of Martin Way frontage and is zoned MHDC. Back portion is zoned LD 3-6 units per acre and is ripe for rezoning. 5 rental homes are located on the back, plus a barn that has been rented out for storage. Current monthly income is for all properties is $8278. 2018 average traffic count over 27,000.

Last Agent to Sell the Property

Paul Oczkewicz

Virgil Adams Real Estate, Inc. License #47964 Listed on: 02/14/2020

Last Buyer's Agent

Bill Foppiano

Van Dorm Realty, Inc License #4530

Van Dorm Realty, Inc

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1564674

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,850

Year Built

  • Built in 1940

Lot Details

  • 8.17 Acre Lot
  • Partially Fenced Property
  • Value in Land
  • Property is in average condition

Home Design

  • Flat Roof Shape
  • Pillar, Post or Pier Foundation
  • Composition Roof
  • Wood Siding
  • Wood Composite

Interior Spaces

  • 5,950 Sq Ft Home
  • 1-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Outdoor Features

  • Deck
  • Outbuilding

Utilities

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

Community Details

  • Lacey Subdivision

Listing and Financial Details

  • Assessor Parcel Number 11814210200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,850

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1940
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 5950
  • Special Features: VirtualTour
  • Cumulative Days on Market: 348

Interior Features

  • Possible Use: Multi-Family, See Remarks
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition, Flat
  • Lot Features: Paved, Value In Land
  • View: No
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Post & Pillar
  • Property Condition: Average
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Available, Septic Tank
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, High Speed Internet, Natural Gas Available, Septic System, Electric
  • PowerCompany: PSE
  • WaterSewerGarbage: 0

Schools

  • Junior High Dist: North Thurston
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 11814210200
  • Lot Size Acres: 8.17
  • Lot Size Sq Ft: 355885
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially,Gas Available,High Speed Internet,Outbuildings
  • MLSLotSizeSource: County
  • ZoningJurisdiction: County
  • ZoningClass: Multi-Family,See Remarks

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 22
  • LeasedItems: None
  • TotalMonthlyIncome: 8278

Multi Family

  • Gross Scheduled Income: 103662
  • Net Operating Income: 68301
  • Number Of Units Total: 6
  • Insurance Expense: 3328
  • Leasable Area: 5008
  • UnitsInBuildingTotal: 6
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2019
  • Tax Annual Amount: 15850

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 10, 2021
Sold by
Fine Steven W and Fine Loralee H
Bought by
Fine Holdings Martin Way Llc
Current Estimated Value
$3,203,526

Purchase Details

Listed on
Feb 14, 2020
Closed on
May 11, 2020
Sold by
Blais Jill M and Evans Susan M
Bought by
Fine Steven W and Fine Loralee H
Seller's Agent
Paul Oczkewicz
Virgil Adams Real Estate, Inc.
Buyer's Agent
Bill Foppiano
Van Dorm Realty, Inc
List Price
$2,200,000
Sold Price
$2,100,000
Premium/Discount to List
-$100,000
-4.55%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.81%
Original Mortgage
$1,575,000
Outstanding Balance
$1,410,842
Interest Rate
3.3%
Mortgage Type
Commercial
Estimated Equity
$1,706,348

Purchase Details

Closed on
Nov 17, 2015
Sold by
Evans Josephine M
Bought by
Josies Trust and Charles O Evans Trust

Purchase Details

Closed on
Jul 28, 2015
Sold by
Evans Josephine M
Bought by
Evans Josephine M and Charles O Evans Trust

Purchase Details

Closed on
Dec 10, 2008
Sold by
Evans Charles O and Evans Josie M
Bought by
Evans Charles O and Evans Josephine M
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
Fine Holdings Martin Way Llc -- None Available
Fine Steven W $2,100,000 Chicago Title Company Of Wa
Josies Trust -- None Available
Evans Josephine M -- None Available
Evans Charles O -- Thurston County Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Fine Steven W $1,575,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/13/2020 05/13/20 Sold $2,100,000 -4.5% $353 / Sq Ft
02/21/2020 02/21/20 Pending -- -- --
02/14/2020 02/14/20 For Sale $2,200,000 -- $370 / 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 $27,172 $2,363,300 $2,363,300 --
2023 $27,172 $2,074,000 $2,067,900 $6,100
2022 $23,812 $1,606,900 $1,601,000 $5,900
2021 $28,681 $1,873,200 $1,769,700 $103,500
2020 $28,691 $2,138,900 $2,052,200 $86,700
2019 $19,212 $2,205,100 $1,902,200 $302,900
2018 $16,162 $1,047,700 $776,500 $271,200
2017 $10,236 $642,300 $382,500 $259,800
2016 $9,116 $759,450 $516,450 $243,000
2014 -- $674,550 $516,450 $158,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1564674

Northwest Multiple Listing Service (NWMLS)

APN: 11814210200