Listing Provided Courtesy Of:
Kidder Mathews and NWMLS
Address
166 112th Street Ct Tacoma, WA
Price
$ 5,000,000
Property Attributes
  • ID#1730648
  • TypePending
  • CountyPIERCE
  • CityTacoma
  • AreaParkland
  • NeighborhoodParkland
  • Zip98445
  • Style10+ Units
  • Year Built1988
  • Taxes$ 45219
  • Price$ 5,000,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.97 Acres
Listing Provided Courtesy Of:
Kidder Mathews and NWMLS
Data Source:
Northwest Multiple Listing Service (NWMLS) - 21 - WA
Property Description

Constructed in 1988, Sherwood Terrace consists of four two-story wood framed residential buildings spread across a roughly 1-acre parcel. This 24-unit complex holds spacious 2-bedroom, 1-bath and 2-bedroom, 1.5 bath layouts averaging 932 SF. Meticulously maintained and self-managed, this unique offering is being offered to investors for the first time in 15+ years. Primed for renovation, this value-add opportunity offers significant rental upside as rents are currently below market, and majority of homes (83%) are ripe for renovation to capture additional rent premiums. Sherwood Terrace presents and ideal first-generation value-add opportunity through maximizing operations with professional management, and interior renovations.

Price History
2/25/2021 Listed $5,000,000

General Features

Building Area Units Square Feet
Carport Spaces 24
Carport Y/N No
City Tacoma
County Pierce
Directions Continue to I-705 S // Take I-5 S and WA-512 E to WA-7 S/Pacific Ave S in Parkland. Take the WA-7/Pacific Ave exit from WA-512 E // Drive to 112th St S
Exterior Features Cement Planked
Flooring See Remarks
High School District Tacoma
Insurance Expense 7981
Leasable Area 22368
MLS Area 63 - Parkland
Net Operating Income 234769
New Construction No
Open Parking Spaces 8
Possession Closing
Possible Use Multi-Family
Property Style 56 - 10+ Units
Property SubType Multi-Family
Property Type Residential Income
PropertyCondition Good
Roof Composition
Senior Community Y/N No
Sewer Sewer Connected
Special Listing Conditions None
Standard Status Pending
Status Pending
Street Name 112th
Structure Type Multi Family
Subdivision Name Parkland
Tax Annual Amount 45219
Tax Year 2020
Terms Conventional
Total Units 24
Units Below Grade false
Units In Building Total 24
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 38796
Year Built 1988
Zoning Class Multi-Family

Interior Features

Electric On Property Y/N No
Fireplace Y/N No
Furnished Y/N Unfurnished
Living Area Units Square Feet
Power Production Type Electric
Street Suffix Street Ct
Total Stories 2

Exterior Features

Foundation Details Block
Irrigation Water Rights Y/N No
Lot Dimensions 42100
Lot Size Acres 0.9665
Lot Size Square Feet 42100
Lot Size Units Square Feet
Open Parking Y/N Yes
Parking Uncovered Spaces 8
Total Parking 32
View Y/N No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 98445

Year Built
AVG 1984
1988
Walkscore
AVG 22
65
Data Provided by Walkscore ® not using MLS data