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Elizabeth I 116 173rd St E

13 Unit Block of Flats £2,503,840 (£192,603/Unit) 5.50% Net Initial Yield Spanaway, WA 98387

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Investment Highlights

Coin Operated Laundry

Executive Summary

Impeccably Maintained 13-Unit Complex Offering Strong Returns & Immediate Cash Flow Opportunities. Benefit from fresh exterior paint, new decking & updated septic risers. Recent updates for all units include electrical panels & water tanks. Several units have been upgraded with modern finishes: cabinets, countertops, appliances, trim & flooring. Additional features include, coin-operated laundry facility, 13 individual garage spaces, 5 storage units, rare & valuable amenities. Long-term tenants ensure steady cash flow, with units turning over quickly when they become available. Conveniently located to schools, shopping, JBLM & outdoor recreation, this is a prime opportunity to invest in a well-maintained property with long-term potential.

Property Facts

Price	£2,503,840	Building Class	C
Price Per Unit	£192,603	Lot Size	0.74 AC
Sale Type	Investment	Building Size	8,660 SF
Net Initial Yield	5.50%	Average Occupancy	96%
Gross Rent Multiplier	10.6	Number of Floors	1
No. Units	13	Year Built	1968
Property Type	Residential	Parking Ratio	2.31/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	£2,503,840
Price Per Unit	£192,603
Sale Type	Investment
Net Initial Yield	5.50%
Gross Rent Multiplier	10.6
No. Units	13
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.74 AC
Building Size	8,660 SF
Average Occupancy	96%
Number of Floors	1
Year Built	1968
Parking Ratio	2.31/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.