Updated Duplex with Water
1917 Willow Ln W University Place, WA 98466
1917 Willow Ln W, University Place, WA, 98466
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For Sale
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Two fully renovated units feature large windows, multi-level 3-bedroom layouts, and attached plus detached garage parking.
Property Size3,548 SF
Price / SF$281.85
Days on Market17
Property Features for 1917 Willow Ln W
General Information
- Standard status
- Active
- Size
- 3,548 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing agency
Keller Williams Tacoma
Listed by
Brian Thayer · License #72669
Source
Crexi
Added: Jul 7 Updated: Jul 23 at 4:09AM Checked: Jul 23 at 4:09AM
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 Keller Williams Tacoma
Investment Insights
Based on property information with market context.
This beautifully maintained, updated duplex includes two levels per unit with 3 bedrooms and 2 bathrooms. Each unit is configured to feel like a single-family home, with large windows designed to capture Puget Sound and Olympic Mountain views. Parking is provided by an attached garage plus an additional 1-car detached garage. Recent capital improvements include fully renovated interiors for both units with modern updates and quality finishes.
The property is located at 1917 Willow Ln W in University Place, WA 98466. Access directions provided from S Jackson Ave/Bridgeport Way W include heading west on 19th St W, turning left on Willow Lane W, and following the private road to the property on the left.
Rents are currently below current market levels, creating room for future income growth and enhanced cash flow, supported by the strong demand in the University Place rental market.
The property is located at 1917 Willow Ln W in University Place, WA 98466. Access directions provided from S Jackson Ave/Bridgeport Way W include heading west on 19th St W, turning left on Willow Lane W, and following the private road to the property on the left.
Rents are currently below current market levels, creating room for future income growth and enhanced cash flow, supported by the strong demand in the University Place rental market.
Key Highlights
- Duplex built in 1965 with two fully renovated units and large windows for Puget Sound and Olympic Mountain views
- Each unit offers a multi‑level layout with 3 bedrooms and 2 bathrooms
- Parking includes 1 attached garage plus a 1‑car detached garage for each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.5k | $20.16 |
| − Vacancy | −$5.0k | −$1.42 |
| EGI | $66.5k | $18.74 |
| − OpEx | −$19.9k | −$5.62 |
| NOI | $46.5k | $13.12 |
3,548 SF · lease $20.16/SF/yr · vacancy 7.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$665.0K
$581.9K – $775.8K
NOI $46,549 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$613.3K
$536.7K – $715.6K
NOI $42,934 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$958.3K
$838.5K – $1.12M
NOI $67,079 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two fully renovated units feature large windows, multi-level 3-bedroom layouts, and attached plus detached garage parking.
Where is this duplex located?
The property is located at 1917 Willow Ln W University Place, WA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Duplex built in 1965 with two fully renovated units and large windows for Puget Sound and Olympic Mountain views; Each unit offers a multi‑level layout with 3 bedrooms and 2 bathrooms; Parking includes 1 attached garage plus a 1‑car detached garage for each unit
