Two-Unit Duplex with Attached
New
For Sale
$599,950
17216 17218 5th Avenue E, Spanaway, WA 98387
Both residences offer two bedrooms, two bathrooms, and an attached garage.
Property Size1,998 SF
Price / SF$300.28
Days on Market7
Property Features for 17216 17218 5th Avenue E
General Information
Standard status
Active
Size
1,998 SF
Total Parking Spaces
10
Property subtype
Residential Income
Zoning
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,638
Amenities
attached garage
Wood
Wood Products
Building Details
Building Size
1,998 SF
Year Built
1981
Stories
2
Units
2
Listing Agency:
eXp Realty
(888) 317-5197
Listed By:
Mike Severeid
(253) 632-6241
Source:
Frosthometeam
Added: Oct 21
Changed: Oct 26
Last Checked: Oct 26 at 3:56AM
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 eXp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two residences, each with two bedrooms and two bathrooms. Each unit also has an attached garage, providing dedicated parking as part of the residential configuration.
Built in 1981, the property is zoned Multi-Family. The two units each offer approximately 1,000 square feet of living space, for a total property size of 1,998 square feet.
Built in 1981, the property is zoned Multi-Family. The two units each offer approximately 1,000 square feet of living space, for a total property size of 1,998 square feet.
Key Highlights
- Two units, each with 2 bedrooms and 2 bathrooms
- Approximately 1,000 sq. ft. of living space per unit
- Attached garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,214
Cap Rate
4.37%
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 4.37%
Second Best
Apartment 5plus
$345.4K
$302.2K – $403.0K
NOI $24,178 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$539.6K
$472.2K – $629.6K
NOI $37,775 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
418
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, two bathrooms, and an attached garage.
Where is this duplex located?
The property is located at 17216 17218 5th Avenue E Spanaway, WA.
What is the asking price?
The asking price for this property is $599,950.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 2 bathrooms; Approximately 1,000 sq. ft. of living space per unit; Attached garage for each unit
