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R a w L a n d f o r S a l e 6 Unit Mul�family

Leased Investment Opportunity

F o r M o r e I n f o r m a t i o n :

J e f f L . H u l i n g

B e s t C h o i c e R e a l t y , L L C

1 6 4 0 0 S o u t h c e n t e r P k w y

S u i t e # 5 0 2

S e a t t l e , W a s h i n g t o n

9 8 1 8 8

P h o n e : ( 2 0 6 ) 5 5 0 - 7 1 7 7

F a x : ( 2 0 6 ) 6 8 1 - 9 9 7 9

E m a i l :

J L H u l i n g @ c o m c a s t . n e t

The information contained herein has been received from sources we deem reliable. It is provided with-

out any representation, warranty or guarantee expressed or implied. All information should be inde-

pendently verified. CBA Listing #566027 MLS Listing #853243

3415 South 47th Street; Tacoma, WA 98409

Investment Highlights

* Individually metered u�li�es

* 12 Year tax abatement on

structure

* Built in 2014

* 1040 square foot units

* Granite countertops

* Washer/dryer in each unit

* Below market rents

* 9% Return on Investment

Offering Price: $739,000

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Annual Rental Income: $63,840*

Current Occupancy: 100%

Net Rentable Square Feet: 6240

Landlord is responsible for: Taxes, Insurance, Landscaping, Sewer, and Mainte-

nance

Tenant is responsible for: Power, Water, Garbage

Tax abatement for property structure: 11 years left with no building tax

Lease has no rent caps.

*Rents are scheduled to increase $25 after 1 year of tenancy.

Address/Unit #

Tenant

Lease Start Date

Lease

Expiration or Month to Month

Unit Square Feet

Number of Bedrooms

and Bathrooms

Monthly Rent

Tenant Paid

Utilities

Security Deposit

3415 S. 47th St Tacoma, WA Unit #A

Cecil Hector

10/16/14 Month to Month

1040 Sq. Ft.

2 Bed-rooms

1.50 Baths

$900 Power, Water, Garbage

$750 less $250 Non

Refund.

3415 S. 47th St Tacoma, WA Unit #B

Parker Murdock

2/18/15 Month to Month

1040 Sq. Ft.

2 Bed-rooms

1.50 Baths

$900 Power, Water, Garbage

$750 less $250 Non

Refund.

3415 S. 47th St Tacoma, WA Unit #C

Anthony Lake

11/1/14 Month to Month

1040 Sq. Ft.

2 Bed-rooms

1.50 Baths

$900 Power, Water, Garbage

$750 less $250 Non Refund

3415 S. 47th St Tacoma, WA Unit #D

Janae Coney

11/1/14 Month to Month

1040 Sq. Ft.

2 Bed-rooms

1.50 Baths

$900 Power, Water, Garbage

$750 less $250 Non

Refund.

3415 S. 47th St Tacoma, WA Unit #E

Nekeya Hogan

11/1/14 Month to Month

1040 Sq. Ft.

2 Bed-rooms

1.50 Baths

$860 Power, Water, Garbage

$750 less $250 Non

Refund.

3415 S. 47th St Tacoma, WA Unit #F

Peter Ngobe

8/1/15 3/1/17 1040 Sq. Ft.

2 Bed-rooms

1.50 Baths

$860

Power, Water, Garbage

$750 less $250 Non

Refund.

Rent Roll

3415 South 47th Street; Tacoma, WA

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Income and Operating Expenses

3415 South 47th Street; Tacoma, WA

Income:

Potential Rental Income: $63,840

Less Vacancy of 5% $3192

Gross Operating Income: $60,648

Annual Operating Expenses:

Property Taxes 2015 $643 (No structure tax for 11 more yrs.)

Insurance $2000

Management/Administration (5%) $3250

Repairs/Maintenance Reserves $3600

Sewer $1800

Landscaping $1200

Power $0

Water $0

Garbage $0

Total Expenses: $12,493

Expenses per Unit: $2,082

Net Operating Income: $48,155

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Investment and Building Information

3415 South 47th Street; Tacoma, WA

Sale Price: $739,000

Down Payment of 30%: $221,700

Loan Amount: $517,300

Annual Debt Service @ 3.50% 30 Years: $27,875

Net Operating Income: $48,155

Pre Tax Income After Debt Service: $20,280

Pre Tax Cash on Cash Return: 9.2%

Capitalization Rate: 6.52

Debt Service Coverage Ratio: 1.73

Building Net Rentable Square Feet: 6240 Square Feet

Price per Rentable Square Foot: $118

Number of Units: 6

Unit Size: 1040 Square Feet

Price per Unit: $123,167

Number of Floors: 2

Build Year: 2014

Approximate Lot Size: 6,317 Square Feet

Tenant Parking: 4 Designated plus street

Zoning: Residential Community Mixed Use (RCX)

Automatic Landscape Irrigation System included.

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