Updated Duplex with
For Sale
$699,000
6708 46th Ave NW #A&B, Gig Harbor, WA 98335
Two updated units include appliances, utility rooms, and individual garage access.
Property Size1,884 SF
Price / SF$371.02
Days on Market50
Property Features for 6708 46th Ave NW #A&B
General Information
Standard status
Active
Size
1,884 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
updated kitchens
updated bathrooms
laminate hardwood flooring
utility room with deep sink
appliances included
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Compass
Listed By:
Chris Murphy · License #111144
(360) 918-6497
Source:
Pugetsoundrealestate
Added: Aug 26
Changed: Oct 1
Last Checked: Oct 12 at 7:19PM
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
Investment Insights
Based on property information with market context.
This 1,884-square-foot duplex, built in 1978, offers two updated units with laminate hardwood flooring throughout. Each residence includes refreshed kitchens and bathrooms, with appliances included. Both units also feature a utility room with a deep sink and access to an individual one-car garage.
The property is located at 6708 46th Ave NW in Gig Harbor, less than 5 minutes from the freeway and approximately 10 minutes from downtown. The configuration combines updated interior finishes with practical storage, utility, and parking features for each unit.
The property is located at 6708 46th Ave NW in Gig Harbor, less than 5 minutes from the freeway and approximately 10 minutes from downtown. The configuration combines updated interior finishes with practical storage, utility, and parking features for each unit.
Key Highlights
- 1,884 SF duplex built in 1978
- Both units feature updated kitchens and bathrooms
- Laminate hardwood flooring throughout both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,718
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$494,360
$494.4K
Cap Rate 7%
$353,114
$353.1K
Cap Rate 9%
$274,644
$274.6K
Market Conditions
NOI Build-Up for 1,884 SF
Gross rent
$38.0K $20.16/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$35.3K $18.74/SF
− OpEx
−$10.6K −$5.62/SF
NOI
$24.7K $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%
$494,360
Cap Rate 7%
$353,114
Cap Rate 9%
$274,644
Alternative Uses
Best Use
Multifamily LT 5
$353.1K
$309.0K – $412.0K
NOI $24,718 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$325.7K
$285.0K – $380.0K
NOI $22,798 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$508.8K
$445.2K – $593.7K
NOI $35,619 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 98335, WA
27,307
Population
11,457
Households
2.4
Avg Household Size
47
Median Age
52%
College-Educated
97%
High-School Grad
22.1 sq mi
ZIP Area
1,236
Density / Sq Mi
$130,304
Median Household Income
$65,089
Median Earnings
$1,971
Median Rent
$736,400
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units include appliances, utility rooms, and individual garage access.
Where is this duplex located?
The property is located at 6708 46th Ave NW #A&B Gig Harbor, WA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,884 SF duplex built in 1978; Both units feature updated kitchens and bathrooms; Laminate hardwood flooring throughout both units
