2504 Bridgeport Way University Place, WA 98466

This University Place, WA, multifamily investment presents a compelling opportunity. The property, located at 2504 Bridgeport Way W, 98466, consists of a two-story, Class B tri-plex building constructed in 1945. The 2,926 square foot property features three units, offering a mix of living spaces to suit various needs. Currently, the occupancy rate stands at 77%, generating a Net Operating Income (NOI) of $45,141, resulting in a 7.00% cap rate. The asking price is $645,000, translating to $215,000 per unit. Unit features vary, with some including updated flooring and paint, gas fireplaces, chef's kitchens, and in-unit laundry. One unit is currently vacant, presenting potential for owner-occupancy, short-term rental (Airbnb), or long-term lease. An additional studio apartment provides supplemental income. The property also boasts a well-maintained backyard with garden space. This stabilized investment offers a strong return and potential for future appreciation in the desirable University Place market. The property is not subject to a ground lease. This is a rare opportunity to acquire a multifamily property in a prime location.