7002-7004 South Prospect Street

7002-7004 South Prospect Street

Tacoma, WA 98409

$690,000
Price
6
Beds
4
Baths
2,544 Sq. Ft.
$271 / Sq. Ft.
2,544
Sq. Ft.
$271
per Sq. Ft.

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Virtual Tour

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a living room with furniture a flat screen tv and a bookshelf
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a utility room with dryer and washer
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Listing provided courtesy of Keller Williams Realty

Description

Calling All Investors! This S. Tacoma Tri-plex has 3 legal units: Unit A - 3 Bed/2 Bath/W&D with long-term tenant; Unit B - 2 Bed/1 Bath/W&D, with updates in 2022; Unit C- 1 Bed/1 Bath unit, with updates in Feb 2024. Single car garage for storage, a large, fenced yard, decks for units B & C. Tenant utility billbacks. Large corner lot with tons of parking. Great, centralized location near transit, JBLM and I-5. Cap Rate 4.28% & GRM 14.1Calling All Investors! This S. Tacoma Tri-plex has 3 legal units: Unit A - 3 Bed/2 Bath/W&D with long-term tenant; Unit B - 2 Bed/1 Bath/W&D, with updates in 2022; Unit C- 1 Bed/1 Bath unit, with updates in Feb 2024. Single car garage for storage, a large, fenced yard, decks for units B & C. Tenant utility billbacks. Large corner lot with tons of parking. Great, centralized location near transit, JBLM and I-5. Cap Rate 4.28% & GRM 14.1
  1. Listed by Kristen Steinman • Keller Williams Realty

Property Details for 7002-7004 South Prospect Street

Community Name
Tacoma
School District
Tacoma
Number of Assigned Spaces
5
Total Covered Parking
1
Entry Date
02-22-2024
Energy Source
Electric,Natural Gas
Sewer
Sewer Connected

Location

Listing Courtesy of Keller Williams Realty
Add your commute
LISTING UPDATED: 04/04/2024 04:47 PM

Property Details for 7002-7004 South Prospect Street

StatusActive
MLS #2202375
Days on Market70
Cumulative Days on Market69
Taxes$5,736 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1900
Lot Size0.21 AC / 9,000 SF
CountyPierce County

Location

Listing Courtesy of Keller Williams Realty
Add your commute

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Building Information for 7002-7004 South Prospect Street

Stories3Residences3Year Built1900Building Size-Lot Size0.21 AC / 9,000 SF

Payment Calculator

$4,244 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,766

Property Taxes

$478

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7002-7004 South Prospect Street

Summary
Location and General Information
  • Style: 53 - Tri-plex
  • Site Features: Cable TV, Deck, Fenced-Partially, Gas Available, High Speed Internet, Patio, RV Parking
  • Area: 49 - South Tacoma
  • Block: 6
  • Elementary School: Arlington
  • Middle Or Junior School: Gray
  • High School: Mt Tahoma
  • Effective Year Built Source: Public Records
  • Directions: From I-5 S: Take exit 129 for 72nd St/84th St - Head West onto S 74th St, Right on S Prospect St - Home will be on the Left at the corner of Prospect and 70th
  • Leased Items: None
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Parking Type: RV Parking
  • Open Parking Spaces: 4.0
  • Open Parking: Yes
  • Parking Features: RV Parking
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Interior and Exterior Features
Interior Features
  • Floor Covering: Hardwood, Laminate, Vinyl, Carpet
  • Features: Forced Air, Hardwood, Laminate Hardwood, Wall to Wall Carpet
  • Amenities: Thermal Windows
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Baseboard, Forced Air, Wall Unit(s)
  • FIRPTA: No
Exterior Features
  • Exterior: Wood, Wood Products
  • Roof: Composition
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 0
  • Power Company: TPU
  • Sewer Company: TPU
  • Water Company: TPU
  • Power Production Type: Electric, Natural Gas
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete
  • Zoning Class: Multi-Family,Residential
  • First Right Of Refusal: false
  • Possible Use: Multi-Family, Residential
  • MLS Square Footage Source: Public Records
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1980
  • Photos Count: 33
Lot Information
  • Lot Details: Corner Lot, Paved, Sidewalk
  • Lot Number: 1-3
  • Lot Size Source: Public Records
  • Parcel Number Free Text: 6735000530
  • Calculated Square Footage: 2544
  • Structure Type: Triplex
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 2544.0
  • 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: 4
  • Number of Stories in Building: 3
  • Vacancy Rate: 9
  • Number Of Units Total: 3
  • Units Below Grade: false
  • Units In Building Total: 3
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 14522.18
  • Gross Adjusted Income: 44036
  • Gross Rent Multiplier: 14.1
  • Gross Scheduled Income: $48,948
  • Insurance Expense: $2,525
  • Net Operating Income: $29,514
  • Other Expenses: $6,261
  • Total Monthly Income: 4079
  • 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: 1337
  • Rent Unit 1: $1,589.00
  • 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: 823
  • Rent Unit 2: $1,395.00
  • Bedrooms Unit 2: 2
  • Fireplaces Unit 2: 0
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: C
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 384
  • Rent Unit 3: $1,095.00
  • Bedrooms Unit 3: 1
  • Fireplaces Unit 3: 0
  • Bathrooms Unit 3: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 2544.0
  • Leasable Area Units: Square Feet

Property History for 7002-7004 South Prospect Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 7002-7004 South Prospect Street

Taxable ValueLand$198,000Additions$317,000Total$515,000
Tax Record2023$5,347 ($446 / month)
Home Facts
Total Finished SqFt2,544 SqFtAbove Ground SqFt2,544 SqFtStories3Lot Size9,000 SqFtStyleTriplexYear Built1900Year Renovated1974ZoningR2CountyPIERCEAPN6735000530Fireplace TypeHas Fireplace

Schools near 7002-7004 South Prospect Street

This home is within Tacoma School District.
Rating
School
Type
Grades
Distance
Arlington
Public - PK to 5
Gray Middle School
Public - 6 to 8
Mt Tahoma
Public - 9 to 12
Industrial Design Engineering And Art
Public - 9 to 12
Rating
School
Distance
Arlington
PublicPK to 5

Gray Middle School
Public6 to 8

Mt Tahoma
Public9 to 12

Industrial Design Engineering And Art
Public9 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.

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More information about 7002-7004 South Prospect Street, Tacoma, WA 98409

7002-7004 South Prospect Street is a multi-family home for sale in Tacoma, WA 98409. This property was listed for sale on February 22, 2024 by Keller Williams Realty, it's currently listed at $690,000. This listing's school district is Tacoma School District. Nearby schools include Arlington, Gray Middle School and Mt Tahoma. 7002-7004 South Prospect Street is a 6-bed, 4-bath, 2,544 sqft multi-family home built in 1900.

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 Keller Williams Realty

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.