5303 Parker RD E Active Save Request In-Person Tour Request Virtual Tour
Sumner,WA 98390
Key Details
Property Type Other Types
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,680 sqft
Price per Sqft $278
Subdivision Sumner
MLS Listing ID 2389683
Style 56 - 10+ Units
Bedrooms 28
Year Built 1968
Annual Tax Amount $27,643
Lot Size 1.161 Acres
Property Sub-Type Multi Family
Property Description
6.05% Current Cap Rate | Sumner Park offers investors a prime opportunity to capitalize on the Sumner sub-market's robust rental market, projected to experience steady growth in 2025 and beyond, with minimal capital expenditure required. This 12,680-square-foot, 16-unit multifamily property is newly renovated, ensuring low immediate maintenance costs and strong tenant appeal. With an average market rent in Sumner of $1,841 as of May 2025, reflecting a 23.8% increase since 2020, the property is well-positioned to deliver consistent cash flow and long-term appreciation. Situated on a 50,560 square foot lot, future development opportunities exist to develop 29 units or 28 townhomes. Buyer to verify.
Location
State WA
County Pierce
Area 73 - Sumner
Interior
Flooring Vinyl Plank
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Sumner-Bonney Lake
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
Virtual Tour https://discover.matterport.com/space/xX5KojR7tqt