Updated Four-Unit
For Sale
$949,950
15717 63rd Court St E Unit 1-4, Sumner, WA 98390
Remodeled four-unit income property with occupied residences and access to shopping, dining, commuting routes, and Sounder train service.
Property Size3,824 SF
Price / SF$248.42
Days on Market44
Property Features for 15717 63rd Court St E Unit 1-4
General Information
Standard status
Active
Size
3,824 SF
Property subtype
Multi-Family
Building Details
Year Built
1981
Listing Agency:
RE/MAX Realty South
(253) 397-4911
Listed By:
Christine A. Phillips
Source:
Eastsideseattleproperties
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 25 at 6:12AM
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 RE/MAX Realty South
Investment Insights
Based on property information with market context.
This four-unit quadplex contains 3,824 square feet and was built in 1981. The property has undergone a complete remodel, with contemporary improvements incorporated throughout all four residences. Units 1–4 are included in the offering, and current ownership reports zero vacancy with long-term tenants in place.
The property is located in Sumner near shopping, dining, commuting corridors, and Sounder train access. Its occupied configuration and updated interiors provide a clearly defined multifamily asset with established rental operations.
The property is located in Sumner near shopping, dining, commuting corridors, and Sounder train access. Its occupied configuration and updated interiors provide a clearly defined multifamily asset with established rental operations.
Key Highlights
- Four‑unit quadplex with Units 1–4 included
- 3,824 square feet across the property
- Built in 1981 and completely remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,171
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,003,420
$1.0M
Cap Rate 7%
$716,729
$716.7K
Cap Rate 9%
$557,456
$557.5K
Market Conditions
NOI Build-Up for 3,824 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.1K $20.16/SF
− Vacancy
−$5.4K −$1.42/SF
EGI
$71.7K $18.74/SF
− OpEx
−$21.5K −$5.62/SF
NOI
$50.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,003,420
Cap Rate 7%
$716,729
Cap Rate 9%
$557,456
Alternative Uses
Best Use
Multifamily LT 5
$716.7K
$627.1K – $836.2K
NOI $50,171 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$661.1K
$578.4K – $771.2K
NOI $46,274 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.03M
$903.7K – $1.20M
NOI $72,297 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 98390, WA
11,727
Population
4,836
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
91%
High-School Grad
9.2 sq mi
ZIP Area
1,275
Density / Sq Mi
$97,815
Median Household Income
$56,909
Median Earnings
$1,886
Median Rent
$471,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled four-unit income property with occupied residences and access to shopping, dining, commuting routes, and Sounder train service.
Where is this quadplex located?
The property is located at 15717 63rd Court St E Unit 1-4 Sumner, WA.
What is the asking price?
The asking price for this property is $949,950.
What are key features of this property?
This property features: Four‑unit quadplex with Units 1–4 included; 3,824 square feet across the property; Built in 1981 and completely remodeled
