Four-Unit Apartment
For Sale
$1,400,000
1461 Rainier Ct, Fircrest, WA 98466
Four residential units offer private laundry, covered parking, storage, and upgraded kitchen finishes.
Property Size4,112 SF
Price / SF$340.47
Days on Market89
Property Features for 1461 Rainier Ct
General Information
Standard status
Active
Size
4,112 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Amenities
fireplace
eat-in kitchen
granite countertops
formal dining room
walk-in closet
in-unit washer/dryer
covered carport parking
dedicated storage spaces
Building Details
Year Built
1967
Listing Agency:
Berkshire Hathaway HS NW
Listed By:
Suzanne Smith · License #34559
(253) 761-8888
Source:
Montgomeryht
Added: Jul 18
Changed: Oct 10
Last Checked: Oct 5 at 7:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway HS NW
Investment Insights
Based on property information with market context.
This 4,112-square-foot quadplex, completed in 1967, contains four two-bedroom residences with one and a half baths apiece. Each unit includes a fireplace, dining area, eat-in kitchen with granite countertops, walk-in closet, and in-unit washer and dryer. The layouts also provide dedicated residential living and dining spaces suited to long-term occupancy.
Exterior amenities include covered carport parking and separate storage areas for the units. The property is located at 1461 Rainier Ct in Fircrest, Washington, with a 98466 ZIP code.
Exterior amenities include covered carport parking and separate storage areas for the units. The property is located at 1461 Rainier Ct in Fircrest, Washington, with a 98466 ZIP code.
Key Highlights
- 4,112 SF quadplex with four residential units
- Each unit has 2 bedrooms and 1.5 baths
- Fireplace, eat‑in kitchen, granite countertops, and formal dining area in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,949
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,078,980
$1.1M
Cap Rate 7%
$770,700
$770.7K
Cap Rate 9%
$599,433
$599.4K
Market Conditions
NOI Build-Up for 4,112 SF
Gross rent
$82.9K $20.16/SF
− Vacancy
−$5.8K −$1.42/SF
EGI
$77.1K $18.74/SF
− OpEx
−$23.1K −$5.62/SF
NOI
$53.9K $13.12/SF
Area
Pierce County, WA
Vacancy
7.03%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,078,980
Cap Rate 7%
$770,700
Cap Rate 9%
$599,433
Alternative Uses
Best Use
Multifamily LT 5
$770.7K
$674.4K – $899.2K
NOI $53,949 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$710.8K
$622.0K – $829.3K
NOI $49,759 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$1.11M
$971.8K – $1.30M
NOI $77,742 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 98466, WA
29,769
Population
12,773
Households
2.3
Avg Household Size
39
Median Age
44%
College-Educated
96%
High-School Grad
6.2 sq mi
ZIP Area
4,801
Density / Sq Mi
$94,598
Median Household Income
$53,823
Median Earnings
$1,724
Median Rent
$564,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer private laundry, covered parking, storage, and upgraded kitchen finishes.
Where is this quadplex located?
The property is located at 1461 Rainier Ct Fircrest, WA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4,112 SF quadplex with four residential units; Each unit has 2 bedrooms and 1.5 baths; Fireplace, eat‑in kitchen, granite countertops, and formal dining area in each unit
