Four-Unit Apartment
New
For Sale
$930,000
5607 76th Street W, Lakewood, WA 98499
Each residence has two bedrooms, one bathroom, and an in-unit washer and dryer.
Property Size2,848 SF
Price / SF$326.54
Days on Market4
Property Features for 5607 76th Street W
General Information
Standard status
Active
Size
2,848 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Net Operating Income
$62,800
Property Condition
Severity
Repairs Needed
Evidence
leaving the fourth for immediate value-add upside
Units
Unit Mix
4 x 2BD/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,711
Amenities
in-unit washer/dryers
private patios
Vinyl Plank,Carpet
Yes
No
2
Electric
Paved
Fenced-Partially
8
0.2066
Cement Planked
2848
Building Details
Building Size
2,848 SF
Year Built
1986
Stories
2
Listing Agency:
Windermere Real Estate/East
(971) 979-1647
Listed By:
Isis Morrissey
(503) 701-1326
Source:
Premierepropertygroup
Added: Oct 11
Changed: Oct 13
Last Checked: Oct 12 at 5:26PM
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 Windermere Real Estate/East
Investment Insights
Based on property information with market context.
Built in 1986, this 2,848-square-foot quadplex contains four two-bedroom, one-bathroom apartments. Three units have been remodeled; the fourth remains unremodeled. Each apartment includes its own washer and dryer, and the property has private patios.
The property is in Lakewood, minutes from Joint Base Lewis-McChord, Mount Tahoma High School, and Interstate 5.
The property is in Lakewood, minutes from Joint Base Lewis-McChord, Mount Tahoma High School, and Interstate 5.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 2,848 square feet across the property
- Three of the four units have been remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,366
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,320
$747.3K
Cap Rate 7%
$533,800
$533.8K
Cap Rate 9%
$415,178
$415.2K
Market Conditions
NOI Build-Up for 2,848 SF
Gross rent
$57.4K $20.16/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$53.4K $18.74/SF
− OpEx
−$16.0K −$5.62/SF
NOI
$37.4K $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%
$747,320
Cap Rate 7%
$533,800
Cap Rate 9%
$415,178
Alternative Uses
Best Use
Multifamily LT 5
$533.8K
$467.1K – $622.8K
NOI $37,366 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$492.3K
$430.8K – $574.4K
NOI $34,464 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$769.2K
$673.1K – $897.4K
NOI $53,845 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 98499, WA
33,188
Population
14,683
Households
2.3
Avg Household Size
35
Median Age
19%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
3,771
Density / Sq Mi
$65,000
Median Household Income
$41,345
Median Earnings
$1,445
Median Rent
$370,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms, one bathroom, and an in-unit washer and dryer.
Where is this quadplex located?
The property is located at 5607 76th Street W Lakewood, WA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 2,848 square feet across the property; Three of the four units have been remodeled
