Duplex with Vaulted
New
For Sale
$775,000
4345 67th Ave W, University Place, WA 98466
Two separately metered residences feature individual laundry, private balconies, and distinct floor plans.
Property Size2,844 SF
Price / SF$272.50
Days on Market1
Property Features for 4345 67th Ave W
General Information
Standard status
Active
Size
2,844 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Amenities
vaulted wood ceilings
exposed beams
expansive windows
private balconies
laundry
Building Details
Year Built
1976
Construction
mid-century modern/chalet-style
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Chris Murphy · License #111144
(360) 918-6497
Source:
Pugetsoundrealestate
Added: Oct 19
Last Checked: Oct 19 at 2:14PM
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 Compass
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Investment Insights
Based on property information with market context.
This 2,844-square-foot duplex, built in 1976, is arranged as two townhome-style residences with vaulted wood ceilings, exposed beams, large windows, and private balconies. Unit A has 3 bedrooms and 2 bathrooms, a carport, and a recently renovated interior with new appliances. It is vacant. Unit B includes 2 bedrooms, 1 bathroom, a bonus room, and an attached garage; its lease runs through 1/31/27. Both residences have laundry, with water and electricity metered separately.
Building updates include a roof installed in 2024 with a transferable 25-year warranty, newer windows and water heaters, copper plumbing, and recently painted exterior surfaces. The property is at 4345 67th Ave W in University Place, near shopping, dining, and parks.
Building updates include a roof installed in 2024 with a transferable 25-year warranty, newer windows and water heaters, copper plumbing, and recently painted exterior surfaces. The property is at 4345 67th Ave W in University Place, near shopping, dining, and parks.
Key Highlights
- Two townhome‑style units totaling 2,844 square feet
- Unit A: 3 bedrooms, 2 bathrooms, carport, renovated interior, and new appliances; vacant
- Unit B: 2 bedrooms, 1 bathroom, bonus room, attached garage, and lease through 1/31/27
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,313
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,260
$746.3K
Cap Rate 7%
$533,043
$533.0K
Cap Rate 9%
$414,589
$414.6K
Market Conditions
NOI Build-Up for 2,844 SF
Gross rent
$57.3K $20.16/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$53.3K $18.74/SF
− OpEx
−$16.0K −$5.62/SF
NOI
$37.3K $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%
$746,260
Cap Rate 7%
$533,043
Cap Rate 9%
$414,589
Alternative Uses
Best Use
Multifamily LT 5
$533.0K
$466.4K – $621.9K
NOI $37,313 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$491.6K
$430.2K – $573.6K
NOI $34,415 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$768.1K
$672.1K – $896.2K
NOI $53,769 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,643
Businesses Nearby
Explore this area
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 - Two separately metered residences feature individual laundry, private balconies, and distinct floor plans.
Where is this duplex located?
The property is located at 4345 67th Ave W University Place, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two townhome‑style units totaling 2,844 square feet; Unit A: 3 bedrooms, 2 bathrooms, carport, renovated interior, and new appliances; vacant; Unit B: 2 bedrooms, 1 bathroom, bonus room, attached garage, and lease through 1/31/27
