214 Mashell Avenue South
214 Mashell Avenue South
Eatonville, WA 98328
$1,500,000
Price
19
Beds
10
Baths
7,978 Sq. Ft.
$188 / Sq. Ft.
7,978
Sq. Ft.
$188
per Sq. Ft.
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Listing provided courtesy of Windermere Professional Prtnrs
Description
This 10-Plex in Eatonville is a value-add opportunity comprised of nine (9) 2-Bdrm Units, one (1) 1-Bdrm Unit, & coin-operated laundry. Currently under-performing w/ a 5.87 cap rate, but will produce a 9.64 cap rate once rented at market rates. Complex has undergone some recent updates: all new windows in 2019 + full & partial unit remodels. Upper units each offer balcony overlooking Mt Rainier & can be accessed via living rm & bdrm. Large parking lot & two (2) other parking areas + on-street parking...This 10-Plex in Eatonville is a value-add opportunity comprised of nine (9) 2-Bdrm Units, one (1) 1-Bdrm Unit, & coin-operated laundry. Currently under-performing w/ a 5.87 cap rate, but will produce a 9.64 cap rate once rented at market rates. Complex has undergone some recent updates: all new windows in 2019 + full & partial unit remodels. Upper units each offer balcony overlooking Mt Rainier & can be accessed via living rm & bdrm. Large parking lot & two (2) other parking areas + on-street parking options. The 2-bdrm units are identical in layout: living/dining/kitchen combo w/ full bath between bdrms. Centrally located w/in the downtown corridor of Eatonville offering proximity to grocery, restaurants & parks. Owner financing considered
- Listed by Drew Staudt • Windermere Professional Prtnrs
Property Details for 214 Mashell Avenue South
Community Name
Eatonville
School DistrictEatonville
ViewCity, Mountain(s), Territorial
Number of Assigned Spaces15
Total Covered Parking0
Entry Date03-13-2024
Energy SourceElectric
SewerSewer Connected
Location
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LISTING UPDATED: 04/07/2024 04:10 PM
Property Details for 214 Mashell Avenue South
| Status | Active |
|---|---|
| MLS # | 2208004 |
| Days on Market | 47 |
| Cumulative Days on Market | 46 |
| Taxes | $12,304 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1982 |
| Lot Size | 0.81 AC / 35,100 SF |
| County | Pierce County |
Location
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Building Information for 214 Mashell Avenue South
Stories3Residences10Year Built1982Building Size-Lot Size0.81 AC / 35,100 SF
Payment Calculator
$9,211 per month
30 year fixed, 7.25% Interest
Principal and Interest
$8,186
Property Taxes
$1,025
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 214 Mashell Avenue South
Summary
Location and General Information
- Style: 56 - 10+ Units
- Site Features: Deck
- Area: 124 - Eatonville
- Elementary School: Eatonville Elem
- Middle Or Junior School: Eatonville Mid
- High School: Eatonville High
- Effective Year Built Source: Public Records
- Directions: From Center Street: Turn South on Mashell Avenue. Property on left-hand side after Larson Street East & before Oak Street East. Big building; can't miss it.
- Leased Items: None
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 15.0
- Open Parking: Yes
Virtual Tour
- Virtual Tour URL Unbranded: https://youtu.be/f9Zvy-klj_s?si=fJKG9HsLA9lQ4ODu
- Virtual Tour URL Description: Video Tour
Interior and Exterior Features
Interior Features
- Floor Covering: Ceramic Tile, Vinyl Plank, Carpet
- Features: Ceramic Tile, Wall to Wall Carpet
- Amenities: Coin Op Laundry,Thermal Windows
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 10348
- Power Company: Town of Eatonville
- Sewer Company: Town of Eatonville
- Water Company: Town of Eatonville
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Slab
- Zoning Class: Commercial
- First Right Of Refusal: false
- Possible Use: Commercial
- Letter On File: Duplicate Prop Type
- MLS Square Footage Source: Public Records
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1982
- Photos Count: 40
Lot Information
- Lot Details: Paved
- Lot Number: 7
- Lot Size Source: Public Records
- Parcel Number Free Text: 360500-262-6
- Building Condition: Good
- Calculated Square Footage: 7978
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 7978.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
- Green Energy Efficient: Thermal Windows
Multi Family
Building Details
- Number of Uncovered Spaces: 15
- Number of Stories in Building: 3
- Vacancy Rate: 5
- Number Of Units Total: 10
- Units Below Grade: false
- Units In Building Total: 10
Financing / Income and Expenses
- Electric Expense: $653
- Total Expenses: 34097
- Gross Adjusted Income: 169792
- Gross Rent Multiplier: 8.39
- Gross Scheduled Income: $178,728
- Insurance Expense: $9,532
- Net Operating Income: $144,630
- Other Expenses: $1,260
- Total Monthly Income: 14894
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 820
- Rent Unit 1: $1,500.00
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 2
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 600
- Rent Unit 2: $1,350.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 4
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 820
- Rent Unit 3: $1,500.00
- Bedrooms Unit 3: 2
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 21
- Washer/Dryer Unit 4: false
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 820
- Rent Unit 4: $1,500.00
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 3
- Washer/Dryer Unit 5: false
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Square Feet Unit 5: 820
- Rent Unit 5: $1,500.00
- Bedrooms Unit 5: 2
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 24
- Washer/Dryer Unit 6: false
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: true
- Square Feet Unit 6: 820
- Rent Unit 6: $1,500.00
- Bedrooms Unit 6: 2
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 33
- Washer/Dryer Unit 7: false
- Range/Oven Unit 7: true
- Refrigerator Unit 7: true
- Dishwasher Unit 7: true
- Square Feet Unit 7: 820
- Rent Unit 7: $1,500.00
- Bedrooms Unit 7: 2
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 22
- Washer/Dryer Unit 8: false
- Range/Oven Unit 8: true
- Refrigerator Unit 8: true
- Dishwasher Unit 8: true
- Square Feet Unit 8: 820
- Rent Unit 8: $1,500.00
- Bedrooms Unit 8: 2
- Bathrooms Unit 8: 1
Unit 9
- Name Unit 9: 23
- Washer/Dryer Unit 9: false
- Range/Oven Unit 9: true
- Refrigerator Unit 9: true
- Dishwasher Unit 9: true
- Square Feet Unit 9: 820
- Rent Unit 9: $1,500.00
- Bedrooms Unit 9: 2
- Bathrooms Unit 9: 1
Unit 10
- Name Unit 10: 34
- Washer/Dryer Unit 10: false
- Range/Oven Unit 10: true
- Refrigerator Unit 10: true
- Dishwasher Unit 10: true
- Square Feet Unit 10: 820
- Rent Unit 10: $1,500.00
- Bedrooms Unit 10: 2
- Bathrooms Unit 10: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 7978.0
- Leasable Area Units: Square Feet
Property History for 214 Mashell Avenue South
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 214 Mashell Avenue South
Taxable ValueLand$432,400Additions$927,600Total$1,360,000
Tax Record2024$12,304 ($1,025 / month)
Home Facts
Total Finished SqFt4,842 SqFtAbove Ground SqFt4,842 SqFtStories3Lot Size35,100 SqFtStyleMulti-Family Res (5+ Units)Year Built1982Year Renovated1990CountyPIERCEAPN3605002626
Schools near 214 Mashell Avenue South
This home is within Eatonville School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 | |||
| Public - | K to 5 |
Rating | School | Distance |
|---|---|---|
Mt. Rainier Parent Partnership PublicK to 8 | ||
Eatonville High School Public9 to 12 | ||
New Beginnings Public9 to 12 | ||
Eatonville 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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Listing Courtesy of Windermere Professional Prtnrs
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.