UNLOCK THE POTENTIAL OF THIS LUCRATIVE 2-IN-1 INVESTMENT OPPORTUNITY - IMMEDIATE CASH FLOW & FUTURE DEVELOPMENT!

Asking Price: $599,950
21516 Mountain Highway E Spanaway, WA Usa

About 21516 Mountain Highway E:

Attention New/Seasoned Investors,

Here is a fantastic opportunity that comes in a 2-in-1 package! Situated on a spacious one-acre lot, this property offers not just one, but seven plus sources of income. With its prime location, attractive amenities, and multiple rental units, this property is a goldmine waiting to be explored.

Let's start with the layout of the property. On the grounds, you will find three RV pads, perfect for attracting vacationers or long-term renters seeking a mobile lifestyle. Additionally, there are two garages, providing ample storage space for tenants and potential additional income through rental or storage fees.

The property features two main living units. The first unit is a charming 1 bedroom, 1 bathroom dwelling, ideal for a single individual or a couple. The second unit offers even more space with 4 bedrooms, 1.75 bathrooms, and a huge bonus room. With a flexible floor plan, this unit can accommodate a larger family or serve as a shared living space for multiple tenants.

Currently, all units are fully rented with month-to-month leases, ensuring immediate cash flow for the savvy investor. However, there is potential for owner occupancy loans and rent increases, allowing you to maximize your returns. Be sure to ask your agent about the possibility of a 1% down payment with no PMI on this duplex, making it even more attractive for investors looking to minimize upfront costs.

One of the property's unique selling points is its proximity to Joint Base Lewis-McChord (JBLM). Bordering the base, this property offers privacy and scenic views, making it an appealing option for military personnel and their families. To enhance privacy, privacy fence posts have been thoughtfully installed around the property, ensuring a tranquil living environment for all tenants.

If you are looking to promote your business, you will be thrilled to know that this property boasts an impressive 265 feet of highway frontage. This prime location allows for excellent business advertisement, attracting potential customers and increasing visibility.

Zoned MHR (Manufactured Home Residential), this property offers a density allowance of up to 25 units per acre. This presents an exciting opportunity for future development or resale potential. Whether you choose to capitalize on the current cash flow or explore the options for future expansion, this property offers the best of both worlds.

To fully appreciate the property's layout and potential, be sure to check out the Matterport in the listing. The virtual walkthrough will give you a comprehensive view of the property, allowing you to visualize the possibilities and make an informed investment decision.

In summary, this property offers a unique opportunity for new and seasoned investors alike. With its multiple sources of income, RV pads, garages, rental units, and excellent location, it is a lucrative investment waiting to be seized. Don't miss out on the chance to generate immediate cash flow and explore future development opportunities. Contact your agent today to discuss rental rates and secure this exceptional property.

Don't wait, act now, and unlock the potential of this remarkable property!

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Features of Property

Type

Duplex

Year Built

Built in 1945

Heating

Baseboard

Other

None

Parking

2 Covered parking spaces

Price/sqft

$224 price/sqft

Buyers Agency Fee

2.5% buyers agency fee

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Features of Building

Bedrooms and bathrooms
Bedrooms

5

Bathrooms

3

Flooring
Flooring

Vinyl, Carpet, Wall to Wall Carpet

Heating
Heating features

Baseboard

Cooling
Cooling features

None

Other interior features
Total structure area

2,673

Total interior livable area

2,673 sqft

Virtual tour

View virtual tour

Parking
Total spaces

11

Parking features

RV Parking

Covered spaces

2

Uncovered spaces

8

Carport spaces

1

Lot
Lot size

1 Acres

Lot features

Adjacent to Public Land, Corner Lot, Value In Land, Fenced-Partially, Outbuildings, RV Parking, Shop

Other property information
Parcel number

0318105017

Zoning description

Multi-Family,Residential,Jurisdiction: County

Special conditions

Standard

Type and style
Home type

MultiFamily

Property subType

Duplex

Material information
Construction materials

Metal/Vinyl, Wood Products

Roof

Composition

Condition
Year built

1945

Notable dates
Major remodel year

1985

Utility
Electric information

Company: PSE

Sewer information

Septic Tank, Company: Pierce County Sewer

Water information

Individual Well, See Remarks, Company: WA Water Service Co

Location
Region

Spanaway

Subdivision

Spanaway

Other financial information
Buyer agency compensation

2.5%

Other facts
Listing Terms

Cash Out,Conventional,FHA,State Bond,VA Loan

Property Agent

Ashton Karp

Windermere R E/Lake Tapps, Inc

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