Two-Unit Duplex with Attached
New
For Sale
$615,000
17216 17218 5th Ave E, Spanaway, WA 98387
Both residences provide a two-bedroom, two-bathroom layout with private garage access.
Property Size1,998 SF
Price / SF$307.81
Days on Market5
Property Features for 17216 17218 5th Ave E
General Information
Standard status
Active
Size
1,998 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1981
Buildings
1
Listed By:
Realtrua
(425) 941-2091
Source:
Realtrua
Added: Oct 7
Last Checked: Oct 11 at 7:23AM
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 Realtrua
Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with 2 bedrooms and 2 bathrooms. Each unit offers approximately 1,000 square feet of living area and an attached garage, providing a defined layout for each household.
Built in 1981, the property is located at 17216 and 17218 5th Ave E in Spanaway, Washington.
Built in 1981, the property is located at 17216 and 17218 5th Ave E in Spanaway, Washington.
Key Highlights
- Two units, each with 2 bedrooms and 2 bathrooms
- Approximately 1,000 square feet of living area per unit
- Attached garage serving each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,214
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$524,280
$524.3K
Cap Rate 7%
$374,486
$374.5K
Cap Rate 9%
$291,267
$291.3K
Market Conditions
NOI Build-Up for 1,998 SF
Gross rent
$40.3K $20.16/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$37.4K $18.74/SF
− OpEx
−$11.2K −$5.62/SF
NOI
$26.2K $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 Rate 5%
$524,280
Cap Rate 7%
$374,486
Cap Rate 9%
$291,267
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,214 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$345.4K
$302.2K – $403.0K
NOI $24,178 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$539.6K
$472.2K – $629.6K
NOI $37,775 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 98387, WA
51,630
Population
17,151
Households
3
Avg Household Size
35
Median Age
17%
College-Educated
91%
High-School Grad
26.6 sq mi
ZIP Area
1,941
Density / Sq Mi
$101,141
Median Household Income
$54,167
Median Earnings
$1,837
Median Rent
$424,100
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?
Duplex - Both residences provide a two-bedroom, two-bathroom layout with private garage access.
Where is this duplex located?
The property is located at 17216 17218 5th Ave E Spanaway, WA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 2 bathrooms; Approximately 1,000 square feet of living area per unit; Attached garage serving each unit
