3118 Morrison Rd W, Unit AD

—
Beds
—
Baths
4,704 Sq. Ft.
$306 / Sq. Ft.
4,704
Sq. Ft.
$306
per Sq. Ft.

Description

Effective 11/1, NEW Cap Rate of 5.3%. Amazing opportunity to own this tenant-occupied 4-plex in University Place! Ideally located in the highly desired UP School District & walkable to shopping & transit. Each 3-bed, 1.75 bath unit has an identical layout & includes an open kitchen w/ eating space, separate dining area, spacious living room w/ fireplace, laundry area, a covered deck w/ storage, plus all appliances are included. Tenants love the unique layout that offers extra privacy via a separate...Effective 11/1, NEW Cap Rate of 5.3%. Amazing opportunity to own this tenant-occupied 4-plex in University Place! Ideally located in the highly desired UP School District & walkable to shopping & transit. Each 3-bed, 1.75 bath unit has an identical layout & includes an open kitchen w/ eating space, separate dining area, spacious living room w/ fireplace, laundry area, a covered deck w/ storage, plus all appliances are included. Tenants love the unique layout that offers extra privacy via a separate hall to the master suite w/ attached bath. Outside find plenty of parking including 4 covered spots & large common area. Units have been fully occupied for 8 years, all tenants current & no vacancies. Rents increase to $2,030/month on 11/1/2021.
  1. Listed by Chad G. Goelzer • Keller Williams Realty PS
    P: (253)-835-4500 chadgoelzer@kw.com

Property Details for 3118 Morrison Road West, Unit AD

Community Name
University Place
School District
University Place
View
Territorial
Number of Assigned Spaces
7
Total Covered Parking
0
Entry Date
06-16-2021
Energy Source
Electric,Wood
Sewer
Sewer Connected
LISTING CLOSED: 02/03/2022 12:00 AM

Property Details for 3118 Morrison Road West, Unit AD

StatusSold
MLS #1789722
Days on Market184
Cumulative Days on Market175
Taxes$11,220 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.38 AC / 16,553 SF
CountyPierce County

Location

Listing Courtesy of Keller Williams Realty PS

Sold By Starnberg Realty Inc

Add your commute

Building Information for 3118 Morrison Road West, Unit AD

Stories2Residences4Year Built1988Building Size-Lot Size0.38 AC / 16,553 SF

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Property Information for 3118 Morrison Road West, Unit AD

Summary
Location and General Information
  • Style: 54 - 4-Plex
  • Site Features: Cable TV, Deck, Fenced-Partially
  • Area: 34 - University Place
  • Elementary School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify
  • High School: Buyer To Verify
  • Effective Year Built Source: Public Records
  • Directions: From Hwy 16 take Jackson Ave exit. Turn south onto S Jackson Ave. Turn left on 35th St W. Turn left onto Morrison Rd W. Building on left.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2021
Parking
  • Number of Carport Spaces: 4.0
  • Carport: No
  • Open Parking Spaces: 3.0
  • Open Parking: Yes
Virtual Tour
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Floor Covering: Laminate, Vinyl, Carpet
  • Features: Laminate, Wall to Wall Carpet
  • Amenities: See Remarks,Storage
  • Fireplace: No
  • Heating: Yes
  • FIRPTA: No
Exterior Features
  • Exterior: Wood, Wood Products
  • Roof: Composition
  • Security Features: FullyFenced
Property
Utilities
  • Electric On Property: No
  • Heating and Cooling: Wall
  • Water Source: Public
  • Water/Sewer/Garbage: 7720
  • Power Company: TPU
  • Sewer Company: Pierce County Sewer
  • Water Company: TPU
  • Power Production Type: Electric, Wood
  • Utilities: Cable Connected, Sewer Connected, Electric, Wood
Property and Assessments
  • New Construction YN: No
  • Foundation: Poured Concrete
  • Zoning Class: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • Letter On File: Duplicate Area
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1992
  • Photos Count: 11
Lot Information
  • Lot Details: Paved
  • Lot Size Dimensions: 101' x 164' x 99' x 164'
  • Lot Size Source: Realist
  • Parcel Number Free Text: 0220104037
  • Building Condition: Good
  • Calculated Square Footage: 4704
  • Structure Type: Quadruplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 4704.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 3
  • Number of Stories in Building: 2
  • Unit Number: A-D
  • Vacancy Rate: 0
  • Number Of Units Total: 4
  • Units Below Grade: false
  • Units In Building Total: 4
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 20728
  • Gross Adjusted Income: 97440
  • Gross Rent Multiplier: 15
  • Gross Scheduled Income: $97,440
  • Insurance Expense: $1,788
  • Net Operating Income: $76,712
  • Other Expenses: $0
  • Total Monthly Income: 8120
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: A
  • Washer/Dryer Unit 1: true
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 1176
  • Rent Unit 1: $2,030.00
  • Bedrooms Unit 1: 3
  • Fireplaces Unit 1: 1
  • Bathrooms Unit 1: 2
Unit 2
  • Name Unit 2: B
  • Washer/Dryer Unit 2: true
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 1176
  • Rent Unit 2: $2,030.00
  • Bedrooms Unit 2: 3
  • Fireplaces Unit 2: 1
  • Bathrooms Unit 2: 2
Unit 3
  • Name Unit 3: C
  • Washer/Dryer Unit 3: true
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 1176
  • Rent Unit 3: $2,030.00
  • Bedrooms Unit 3: 3
  • Fireplaces Unit 3: 1
  • Bathrooms Unit 3: 2
Unit 4
  • Name Unit 4: D
  • Washer/Dryer Unit 4: true
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: true
  • Square Feet Unit 4: 1176
  • Rent Unit 4: $2,030.00
  • Bedrooms Unit 4: 3
  • Fireplaces Unit 4: 1
  • Bathrooms Unit 4: 2
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 4704.0
  • Leasable Area Units: Square Feet

Property History for 3118 Morrison Road West, Unit AD

DateEvent & SourcePriceAppreciation
Feb 3, 2022

Sold

NWMLS #1789722

$1,440,500—
Feb 3, 2022

Temporarily Off Market

NWMLS #1824480

—
Feb 2, 2022

Sold

NWMLS #1824480

$1,440,500—
DateEvent & SourcePrice
02/03/2022

Sold

NWMLS #1789722

$1,440,500
02/03/2022

Temporarily Off Market

NWMLS #1824480

—
02/02/2022

Sold

NWMLS #1824480

$1,440,500

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

Public Records for 3118 Morrison Road West, Unit AD

Taxable ValueLand$323,900Additions$886,700Total$1,210,600
Tax Record2023$13,516 ($1,126 / month)
Home Facts
Total Finished SqFt4,704 SqFtAbove Ground SqFt4,704 SqFtStories2Lot Size16,553 SqFtStyleMulti-Family Res (5+ Units)Year Built1988Year Renovated1992ZoningMFCountyPIERCEAPN0220104037Fireplace TypeHas Fireplace

Schools near 3118 Morrison Road West, Unit AD

This home is within University Place School District.
Rating
School
Type
Grades
Distance
Public - PK to 4
Public - PK to 4
Public - 5 to 7
Public - 8 to 9
Rating
School
Distance
Evergreen Primary School
PublicPK to 4

Sunset Primary School
PublicPK to 4

Drum Intermediate School
Public5 to 7

Curtis Junior High School
Public8 to 9

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 any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim 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 seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty PS

Based on information submitted to the MLS GRID as of 09/05/2024 05:43 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.