Listing Provided Courtesy Of:
Keller Williams Realty PS and NWMLS
3118 Morrison Rd W # A-D University Place, WA
$ 1,450,000
Property Attributes
  • ID#1789722
  • TypePending
  • CountyPIERCE
  • CityUniversity Place
  • AreaUniversity Place
  • NeighborhoodUniversity Place
  • Zip98466
  • Style4-Plex
  • Year Built1988
  • Taxes$ 11220
  • Price$ 1,450,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4704
  • Lot Size0.38 Acres
Listing Provided Courtesy Of:
Keller Williams Realty PS and NWMLS
Data Source:
Northwest Multiple Listing Service (NWMLS)
Property Description

Effective 11/1, NEW Cap Rate of 5.3%. Amazing opportunity to own this tenant-occupied 4-plex in University Place! Ideally located in the highly desired UP School District & walkable to shopping & transit. Each 3-bed, 1.75 bath unit has an identical layout & includes an open kitchen w/ eating space, separate dining area, spacious living room w/ fireplace, laundry area, a covered deck w/ storage, plus all appliances are included. Tenants love the unique layout that offers extra privacy via a separate hall to the master suite w/ attached bath. Outside find plenty of parking including 4 covered spots & large common area. Units have been fully occupied for 8 years, all tenants current & no vacancies. Rents increase to $2,030/month on 11/1/2021.

Elementary School Middle School High School
Buyer To Verify Elementary School Buyer To Verify Middle School Buyer To Verify High School
Price History
6/16/2021 Listed $1,450,000

General Features

Amenities See Remarks, Storage
Building Area Units Square Feet
Carport Spaces 4
Carport Y/N No
City University Place
County Pierce
Directions From Hwy 16 take Jackson Ave exit. Turn south onto S Jackson Ave. Turn left on 35th St W. Turn left onto Morrison Rd W. Building on left.
Elementary School Buyer To Verify
Exterior Features Wood, Wood Products
Flooring Laminate, Vinyl, Carpet
High School Buyer To Verify
High School District University Place
Insurance Expense 1788
Interior Features Wall to Wall Carpet, Laminate
Leasable Area 4704
Lot Size Square Feet 16553
MLS Area 34 - University Place
Middle/Junior High School Buyer To Verify
Net Operating Income 76712
New Construction No
Open Parking Spaces 3
Possession Closing
Possible Use Multi-Family
Property Style 54 - 4-Plex
Property SubType Multi-Family
Property Type Residential Income
PropertyCondition Good
Roof Composition
Senior Community Y/N No
Sewer Sewer Connected
Special Listing Conditions None
Standard Status Pending
Status Pending
Street Name Morrison Rd
Structure Type Quadruplex
Subdivision Name University Place
Tax Annual Amount 11220
Tax Year 2021
Terms Cash Out, Conventional
Total Units 4
Unit Number A-D
Units Below Grade false
Units In Building Total 4
Utilities Cable Connected, Sewer Connected, Electricity Available, Wood
View Territorial
Virtual Tour
Water Company TPU
Water Sewer Garbage 7720
Year Built 1988
Zoning Class Multi-Family

Interior Features

Electric On Property Y/N No
Fireplace Y/N No
Furnished Y/N Unfurnished
Heating Y/N Yes
Living Area Units Square Feet
Power Production Type Electric, Wood
Total Stories 2

Exterior Features

Building Area Total 4704
Foundation Details Poured Concrete
Irrigation Water Rights Y/N No
Lot Dimensions 101' x 164' x 99' x 164'
Lot Features Paved
Lot Size Acres 0.38
Lot Size Units Square Feet
Open Parking Y/N Yes
Parking Uncovered Spaces 3
Site Features Cable TV, Deck, Fenced-Partially
Total Parking 7
View Y/N Yes
Water Source Public
Waterfront Y/N No


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 98466

AVG $600K
AVG $4,794
AVG 136
Year Built
AVG 1965
AVG 42
Data Provided by Walkscore ® not using MLS data

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