danforth - loopnet
Post on 01-Jan-2022
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CB
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DANFORTH
34017 1ST CIR SFederal Way, WA 98003
FEDERAL WAY - 4 UNITS
OFFICE
Vladimir Olyanich425 615 0577volyanich@cbcworldwide.com
Bob Fredrickson206 595 7232bfredrickson@cbcworldwide.com
©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker Commercial logos aretrademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company ownedoffices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which areindependently owned and operated. The Coldwell Banker System fully supports the principles of the EqualOpportunity Act.
COLDWELL BANKER COMMERCIALDANFORTH33313 1st Way S, Federal Way, WA 98003253.874.3200
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CBCWORLDWIDE.COM
Vladimir Olyanich425 615 0577volyanich@cbcworldwide.com
Bob Fredrickson206 595 7232bfredrickson@cbcworldwide.com
DANFORTH
OFFERING SUMMARY
Sale Price $720,000
Number of Buildings 1
Number of Units 4
Price Per Unit $180,000
Total Sq. Ft. 4,000
Price Per Sq. Ft. $180
Current Cap Rate 4.50%
Market Cap Rate 6.45%
Year Built 1979
Parcel Number 132202-0450
Lot Size 9,937 SF
PROPERTY DESCRIPTION
Subject property consists of four large townhome-styleapartments. It is fully leased and located within Panther LakeApartments complex. Professionally managed with leasing officeon site, this offering provides an incoming buyer with a hands-offinvestment opportunity. The property is positioned across thestreet from Federal Way Library and in close proximity toshopping, retail, public transportation, etc.
PROPERTY HIGHLIGHTS:
- ALL UNITS ARE TOWNHOME-STYLE (2BR|1.5BATH)- PATIO & BALCONY IN ALL UNITS- IN-UNIT WASHER/DRYER- ON-SITE LEASING OFFICE- 4 CARPORT PARKING SPOTS
SA
LE
34017 1ST CIRCLE SFederal Way, WA 98003
CBCWORLDWIDE.COM
Vladimir Olyanich425 615 0577volyanich@cbcworldwide.com
Bob Fredrickson206 595 7232bfredrickson@cbcworldwide.com
DANFORTH
SA
LE
34017 1ST CIRCLE SFederal Way, WA 98003
CBCWORLDWIDE.COM
Vladimir Olyanich425 615 0577volyanich@cbcworldwide.com
Bob Fredrickson206 595 7232bfredrickson@cbcworldwide.com
DANFORTH
UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MARKET RENT MARKET RENT/SF
2 Bed/1.5 Bath 1 25.0 1,000 $1,225 $1.23 $1,550 $1.55
2 Bed/1.5 Bath 1 25.0 1,000 $1,125 $1.13 $1,550 $1.55
2 Bed/1.5 Bath 1 25.0 1,000 $1,000 $1.00 $1,550 $1.55
2 Bed/1.5 Bath 1 25.0 1,000 $1,200 $1.20 $1,550 $1.55
Totals/Averages 4 100% 4,000 $4,550 $1.14 $6,200 $1.55
SA
LE
34017 1ST CIRCLE SFederal Way, WA 98003
INVESTMENT OVERVIEW CURRENT PROFORMA
Price $720,000 $720,000
Price per Unit $180,000 $180,000
13.34 9.68
4.50% 6.64%
GRM
CAP Rate
OPERATING DATA CURRENT PROFORMA
$59,966.13 $74,400.00
$2,350.43 $2,350.43
$56,316.56 $76,650.43
- $3,720.00
$56,316.56 $73,030.43
$23,939.91 $25,520.66
Gross Scheduled Income
Other Income
Total Scheduled Income
Vacancy Cost
Gross Income
Operating Expenses
Net Operating Income $32,376.65 $47,809.77
CBCWORLDWIDE.COM
Vladimir Olyanich425 615 0577volyanich@cbcworldwide.com
Bob Fredrickson206 595 7232bfredrickson@cbcworldwide.com
DANFORTH
SA
LE
34017 1ST CIRCLE SFederal Way, WA 98003
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