2-Unit Duplex with
For Sale
$835,050
3023 Bridgeport Way W #B, University Place, WA 98466
Each residence has private laundry and a separate outdoor area.
Property Size3,500 SF
Price / SF$238.59
Days on Market18
Property Features for 3023 Bridgeport Way W #B
General Information
Standard status
Active
Size
3,500 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.75BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,578
Amenities
private laundry
Wood
Wood Products
Building Details
Building Size
3,500 SF
Year Built
1975
Buildings
1
Stories
2
Units
2
Listing Agency:
Hawkins Poe
(253) 274-8981
Listed By:
Mitch Baldridge
(253) 970-9711
Source:
Frosthometeam
Added: Oct 7
Changed: Oct 23
Last Checked: Oct 23 at 5:17PM
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 Hawkins Poe
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Investment Insights
Based on property information with market context.
Built in 1975, this duplex contains two residences, each with 2 bedrooms and 1.75 bathrooms. Both units include private laundry, an attached garage, and dedicated outdoor space. Vaulted ceilings, large windows, and distinct living and bedroom areas are among the interior features. Improvements include exterior paint, interior updates, and mechanical work.
One unit is occupied by a long-term tenant. The property is near University Place Town Center, Cirque Park, Chambers Bay, shopping, dining, and everyday amenities.
One unit is occupied by a long-term tenant. The property is near University Place Town Center, Cirque Park, Chambers Bay, shopping, dining, and everyday amenities.
Key Highlights
- Two units, each with 2 bedrooms and 1.75 bathrooms
- Each residence includes private laundry, an attached garage, and separate outdoor space
- One unit has a long‑term tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,920
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,400
$918.4K
Cap Rate 7%
$656,000
$656.0K
Cap Rate 9%
$510,222
$510.2K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$70.6K $20.16/SF
− Vacancy
−$5.0K −$1.42/SF
EGI
$65.6K $18.74/SF
− OpEx
−$19.7K −$5.62/SF
NOI
$45.9K $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%
$918,400
Cap Rate 7%
$656,000
Cap Rate 9%
$510,222
Alternative Uses
Best Use
Multifamily LT 5
$656.0K
$574.0K – $765.3K
NOI $45,920 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$605.0K
$529.4K – $705.9K
NOI $42,353 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$945.3K
$827.2K – $1.10M
NOI $66,172 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has private laundry and a separate outdoor area.
Where is this duplex located?
The property is located at 3023 Bridgeport Way W #B University Place, WA.
What is the asking price?
The asking price for this property is $835,050.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1.75 bathrooms; Each residence includes private laundry, an attached garage, and separate outdoor space; One unit has a long‑term tenant
