166 112th Street East

166 112th Street East

Tacoma, WA 98445

$4,700,000
Last Sold Price
48
Beds
27
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Sold 7/23/21

Sold 7/23/21

Listing provided courtesy of Kidder Mathews

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...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.
  1. Listed by David A. Kelley • Kidder Mathews

Property Details for 166 112th Street East

Community Name
Parkland
School District
Tacoma
Number of Assigned Spaces
32
Total Covered Parking
0
Entry Date
02-18-2021
Energy Source
Electric
Sewer
Sewer Connected

Location

Listing Courtesy of Kidder Mathews

Sold By Kidder Mathews

Add your commute
LISTING UPDATED: 07/27/2021 03:32 PM

Property Details for 166 112th Street East

StatusSold
MLS #1730648
Days on Market31
Cumulative Days on Market32
Taxes$45,219 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1988
Lot Size0.97 AC / 42,100 SF
CountyPierce County

Location

Listing Courtesy of Kidder Mathews

Sold By Kidder Mathews

Add your commute

Building Information for 166 112th Street East

Stories2Residences24Year Built1988Building Size-Lot Size0.97 AC / 42,100 SF

Payment Calculator

$29,418 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,650

Property Taxes

$3,768

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 166 112th Street East

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 63 - Parkland
  • Effective Year Built Source: Public Records
  • 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
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2020
Parking
  • Number of Carport Spaces: 24.0
  • Carport: No
  • Open Parking Spaces: 8.0
  • Open Parking: Yes
Interior and Exterior Features
Interior Features
  • Furnished: Unfurnished
  • Floor Covering: See Remarks
  • Fireplace: No
Exterior Features
  • Exterior: Cement Planked
  • Roof: Composition
Property
Utilities
  • Electric On Property: No
  • Heating and Cooling: Forced Air
  • Water/Sewer/Garbage: 38796
  • Power Production Type: Electric
  • Utilities: Sewer Connected, Electricity Available
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Block
  • Zoning Class: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • Preliminary Title Ordered: No
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1988
  • Photos Count: 6
Lot Information
  • Lot Size Dimensions: 42100
  • Lot Size Source: Public Record
  • Parcel Number Free Text: 0319091004
  • Building Condition: Good
  • Calculated Square Footage: 0
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 0.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 8
  • Number of Stories in Building: 2
  • Vacancy Rate: 5
  • Number Of Units Total: 24
  • Units Below Grade: false
  • Units In Building Total: 24
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 139515
  • Gross Adjusted Income: 374284
  • Gross Rent Multiplier: 13
  • Gross Scheduled Income: $393,984
  • Insurance Expense: $7,981
  • Net Operating Income: $234,769
  • Other Expenses: $47,519
  • Total Monthly Income: 32832
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: 1
  • Range/Oven Unit 1: true
  • Square Feet Unit 1: 932
  • Rent Unit 1: $1,270.00
  • Bedrooms Unit 1: 2
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 2
  • Range/Oven Unit 2: true
  • Square Feet Unit 2: 932
  • Rent Unit 2: $1,285.00
  • Bedrooms Unit 2: 2
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 3
  • Range/Oven Unit 3: true
  • Square Feet Unit 3: 932
  • Rent Unit 3: $1,250.00
  • Bedrooms Unit 3: 2
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 4
  • Range/Oven Unit 4: true
  • Square Feet Unit 4: 932
  • Rent Unit 4: $1,260.00
  • Bedrooms Unit 4: 2
  • Bathrooms Unit 4: 2
Unit 5
  • Name Unit 5: 5
  • Range/Oven Unit 5: true
  • Square Feet Unit 5: 932
  • Rent Unit 5: $1,150.00
  • Bedrooms Unit 5: 2
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 6
  • Range/Oven Unit 6: true
  • Square Feet Unit 6: 932
  • Rent Unit 6: $1,095.00
  • Bedrooms Unit 6: 2
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: 7
  • Range/Oven Unit 7: true
  • Square Feet Unit 7: 932
  • Rent Unit 7: $1,125.00
  • Bedrooms Unit 7: 2
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 8
  • Range/Oven Unit 8: true
  • Square Feet Unit 8: 932
  • Rent Unit 8: $1,265.00
  • Bedrooms Unit 8: 2
  • Bathrooms Unit 8: 2
Unit 9
  • Name Unit 9: 9
  • Range/Oven Unit 9: true
  • Square Feet Unit 9: 932
  • Rent Unit 9: $1,125.00
  • Bedrooms Unit 9: 2
  • Bathrooms Unit 9: 1
Unit 10
  • Name Unit 10: 10
  • Range/Oven Unit 10: true
  • Square Feet Unit 10: 932
  • Rent Unit 10: $1,215.00
  • Bedrooms Unit 10: 2
  • Bathrooms Unit 10: 1
Unit 11
  • Name Unit 11: 11
  • Range/Oven Unit 11: true
  • Square Feet Unit 11: 932
  • Rent Unit 11: $1,250.00
  • Bedrooms Unit 11: 2
  • Bathrooms Unit 11: 1
Unit 12
  • Name Unit 12: 12
  • Range/Oven Unit 12: true
  • Square Feet Unit 12: 932
  • Rent Unit 12: $1,225.00
  • Bedrooms Unit 12: 2
  • Bathrooms Unit 12: 2
Unit 13
  • Name Unit 13: 13
  • Range/Oven Unit 13: true
  • Square Feet Unit 13: 932
  • Rent Unit 13: $1,269.00
  • Bedrooms Unit 13: 2
  • Bathrooms Unit 13: 1
Unit 14
  • Name Unit 14: 14
  • Range/Oven Unit 14: true
  • Square Feet Unit 14: 932
  • Rent Unit 14: $1,205.00
  • Bedrooms Unit 14: 2
  • Bathrooms Unit 14: 1
Unit 15
  • Name Unit 15: 15
  • Range/Oven Unit 15: true
  • Square Feet Unit 15: 932
  • Rent Unit 15: $1,125.00
  • Bedrooms Unit 15: 2
  • Bathrooms Unit 15: 1
Unit 16
  • Name Unit 16: 16
  • Range/Oven Unit 16: true
  • Square Feet Unit 16: 932
  • Rent Unit 16: $1,135.00
  • Bedrooms Unit 16: 2
  • Bathrooms Unit 16: 2
Unit 17
  • Name Unit 17: 17
  • Range/Oven Unit 17: true
  • Square Feet Unit 17: 932
  • Rent Unit 17: $1,275.00
  • Bedrooms Unit 17: 2
  • Bathrooms Unit 17: 1
Unit 18
  • Name Unit 18: 18
  • Range/Oven Unit 18: true
  • Square Feet Unit 18: 932
  • Rent Unit 18: $1,225.00
  • Bedrooms Unit 18: 2
  • Bathrooms Unit 18: 1
Unit 19
  • Name Unit 19: 19
  • Range/Oven Unit 19: true
  • Square Feet Unit 19: 932
  • Rent Unit 19: $1,190.00
  • Bedrooms Unit 19: 2
  • Bathrooms Unit 19: 1
Unit 20
  • Name Unit 20: 20
  • Range/Oven Unit 20: true
  • Square Feet Unit 20: 932
  • Rent Unit 20: $1,320.00
  • Bedrooms Unit 20: 2
  • Bathrooms Unit 20: 2
Unit 21
  • Name Unit 21: 21
  • Range/Oven Unit 21: true
  • Square Feet Unit 21: 932
  • Rent Unit 21: $1,175.00
  • Bedrooms Unit 21: 2
  • Bathrooms Unit 21: 1
Unit 22
  • Name Unit 22: 22
  • Range/Oven Unit 22: true
  • Square Feet Unit 22: 932
  • Rent Unit 22: $1,265.00
  • Bedrooms Unit 22: 2
  • Bathrooms Unit 22: 1
Unit 23
  • Name Unit 23: 23
  • Range/Oven Unit 23: true
  • Square Feet Unit 23: 932
  • Rent Unit 23: $1,205.00
  • Bedrooms Unit 23: 2
  • Bathrooms Unit 23: 1
Unit 24
  • Name Unit 24: 24
  • Range/Oven Unit 24: true
  • Square Feet Unit 24: 932
  • Rent Unit 24: $1,295.00
  • Bedrooms Unit 24: 2
  • Bathrooms Unit 24: 2
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 22368.0
  • Leasable Area Units: Square Feet

Property History for 166 112th Street East

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 166 112th Street East

Taxable ValueLand$801,900Additions$3,348,000Total$4,149,900
Tax Record2024$50,812 ($4,234 / month)
Home Facts
Total Finished SqFt7,432 SqFtAbove Ground SqFt7,432 SqFtStories2Lot Size42,120 SqFtStyleMulti-Family Res (5+ Units)Year Built1988Year Renovated2007ZoningMHRCountyPIERCEAPN0319091004Fireplace TypePre Fab

Schools near 166 112th Street East

This home is within Franklin Pierce School District.
Rating
School
Type
Grades
Distance
Elmhurst Elementary School
Public - K to 5
Perry G Keithley Middle School
Public - 6 to 8
Washington High School
Public - 9 to 12
Gates Secondary School
Public - 8 to 12
Rating
School
Distance
Elmhurst Elementary School
PublicK to 5

Perry G Keithley Middle School
Public6 to 8

Washington High School
Public9 to 12

Gates Secondary School
Public8 to 12

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.

Similar Homes

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Homes for Sale near Parkland

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews

Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.