1040 S Ferry St

—
Beds
—
Baths
3,688 Sq. Ft.
$222 / Sq. Ft.
3,688
Sq. Ft.
$222
per Sq. Ft.

Description

Great investment opportunity to own 4 units in central Tacoma. There are 2 bedrooms & 1 full bath in each unit with own utility meter. Well maintained property with major renovation in 2017, include new kitchens, bathrooms & flooring. Shared laundry & storage room on each level. The cap rent rate is 6% even with 3% vacancy rate. Showing only thru appointment after mutual. Please don't disturb other tenants.Great investment opportunity to own 4 units in central Tacoma. There are 2 bedrooms & 1 full bath in each unit with own utility meter. Well maintained property with major renovation in 2017, include new kitchens, bathrooms & flooring. Shared laundry & storage room on each level. The cap rent rate is 6% even with 3% vacancy rate. Showing only thru appointment after mutual. Please don't disturb other tenants.

Property Details for 1040 South Ferry Street

Community Name
Central Tacoma
School District
Tacoma
Number of Assigned Spaces
10
Total Covered Parking
0
Entry Date
07-17-2020
Sewer
Sewer Connected
LISTING UPDATED: 09/05/2024 05:40 AM

Property Details for 1040 South Ferry Street

StatusSold
MLS #1632422
Days on Market24
Cumulative Days on Market18
Taxes$6,675 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1973
Lot Size0.14 AC / 6,000 SF
CountyPierce County

Location

Listing Courtesy of Best Choice Realty LLC

Sold By Redfin Corp.

Add your commute

Building Information for 1040 South Ferry Street

Stories2Residences6Year Built1973Building Size-Lot Size0.14 AC / 6,000 SF

Payment Calculator

$4,553 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,997

Property Taxes

$556

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1040 South Ferry Street

Summary
Location and General Information
  • Style: 54 - 4-Plex
  • Area: 26 - Central Tacoma
  • Block: 1
  • Elementary School: Bryant
  • Middle Or Junior School: JasonLee
  • High School: Foss
  • Directions: Take I-5 exit 132, located one lot north of the northwest corner of S. 12th & Ferry.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2019
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 10.0
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Floor Covering: Ceramic Tile, Laminate, Carpet
  • Features: Forced Air, Ceramic Tile, Wall to Wall Carpet, Laminate Hardwood
  • Amenities: Coin Op Laundry
  • Fireplace: No
Exterior Features
  • Exterior: Wood
  • Roof: Composition
Property
Utilities
  • Water Source: Community
  • Water/Sewer/Garbage: 3600
  • Power Company: Tacoma Public Utility
  • Sewer Company: Tacoma Public Utility
  • Water Company: Tacoma Public Utility
  • Power Production Type: Electric
  • Utilities: Sewer Connected, Electric
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Zoning Class: Multi-Family
  • Possible Use: Multi-Family
  • Preliminary Title Ordered: Yes
  • Special Listing Conditions: None
  • Photos Count: 12
Lot Information
  • Lot Details: Alley, Curbs, Paved
  • Lot Number: 20-21
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 359000-012-0
  • Calculated Square Footage: 3688
  • Structure Type: Quadruplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 3688.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 10
  • Number of Stories in Building: 2
  • Vacancy Rate: 3
  • Number Of Units Total: 6
  • Units Below Grade: false
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 11975
  • Gross Adjusted Income: 61110
  • Gross Rent Multiplier: 13
  • Gross Scheduled Income: $63,000
  • Insurance Expense: $1,700
  • Net Operating Income: $49,135
  • Other Expenses: $0
  • Total Monthly Income: 5250
  • Fuel Expense: $0
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 3688.0
  • Leasable Area Units: Square Feet

Property History for 1040 South Ferry Street

DateEvent & SourcePriceAppreciation
Sep 11, 2020

Sold

NWMLS #1632422

$820,000—
Sep 9, 2020

Sold (Public Record)

Public Record #677915259

$820,281

+37.0% / yr

Aug 10, 2020

Pending

NWMLS #1632422

—
Jul 17, 2020

Listed (Active)

NWMLS #1632422

$825,000—
Sep 21, 2016

Sold (Public Record)

Public Record #581628191

$235,000—
DateEvent & SourcePrice
09/11/2020

Sold

NWMLS #1632422

$820,000
09/09/2020

Sold (Public Record)

Public Record #677915259

$820,281

+37.0% / yr

08/10/2020

Pending

NWMLS #1632422

—
07/17/2020

Listed (Active)

NWMLS #1632422

$825,000
09/21/2016

Sold (Public Record)

Public Record #581628191

$235,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1040 South Ferry Street

Taxable ValueLand$232,400Additions$747,800Total$980,200
Tax Record2025$10,659 ($888 / month)
Home Facts
Total Finished SqFt3,688 SqFtAbove Ground SqFt3,688 SqFtStories2Lot Size6,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1973Year Renovated2016ZoningC2CountyPIERCEAPN3590000120

Schools near 1040 South Ferry Street

This home is within Tacoma School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Bryant Montessori School
PublicPK to 8

Hilltop Heritage Middle School
Public6 to 8

Foss High School
Public9 to 12

Tacoma Online Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Best Choice Realty LLC

Based on information submitted to the MLS GRID as of 09/05/2024 05:40 AM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.