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Sold on 08/01/2025

506 508 Cherry Ave, Sumner, WA 98390

  • $1,400,000

    Last sold 08/01/2025 after 212 Days

  • —

    bed

  • —

    bath

  • 6,347

    Sqft ($221/Sqft)

House not for sale
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About 506 508 Cherry Ave

Property type House
Neighborhood
Year built 1968
HOA fee $0/month
Lot size 0.66 Acre
Property description
An irreplaceable piece of real estate in the heart of downtown Sumner. Simultaneous sale of a single story solid brick 4-plex & 2 story duplex ideal to all renters. These well-maintained adjacent buildings offer sharing access, a generous parking area, carports w/storage lockers plus more off street parking. Community laundry room serves all. 3 Units are 2 Bd/1Bath and 1 unit is 3 Bd/1.5 Bath. Slider to outside covered patio. Duplex has main floor 1 bed/1 bath + upstairs 3 bed/1.75 bath unit has own laundry & spacious deck with Mt. Rainier views! Large 2+car garage. Prime location close to shopping, dining, Sounder station & Loyalty Park. Zoning is High Density Residential (HDR) with a maximum density of 25 dwelling units per acre.
Listed by
Listing Agent - Dennis Folk
Listing Office - Terrafin
Source: NWMLS mls logo
MLS#2318458 • last updated 11 months ago
Movoto checked NWMLS for data 12 minutes ago
Overview
Cooling/AC None
Levels/Style Multi Family
MLS # 2318458
SubType Multi Family
Type Residential Income
SqFt 6347
Status Sold
Lot Size (SqFt) 28575
Lot Size (Acres) 0.656
Property Tax 18410.12
Year Built 1968
Buying Office Phone 425-455-2065
Interior
Exterior
Foundation Poured Concrete
Roof Composition
# Open Parking Spaces 4
Parking Desc RV Parking
# Carport Spaces 7
# Parking Spaces 11
# Uncovered Spaces 4
Amenities / Utilities
Sewer/ Septic Sewer Connected, City Of Sumner
Water Public
Water Company City Of Sumner
Power Company PSE
Power Production: Type Electric
HOA Amenities Coin Op Laundry, Storage
Location
County Pierce
Subdivision Downtown Sumner
Area 74 - Sumner
Elementary School Buyer To Verify
Middle School Sumner Middle
High School District Sumner-Bonney Lake
High School Sumner Snr High
APN 7710000034
Zoning Residential
Directions From SR 167 Go E On SR 410 Take 1st Exit Onto Traffic Ave/Main St. Left At Light Onto Main. Right At Next Light Onto Thompson Ave. 3rd Right Onto Cherry Ave. 1st Drive On Right Accesses All Buildings
Multifamily Details
Net Operating Income 77769
Capitalization Rate 5
Expense: Insurance 3549
Expense: Electricity 1478.49
Gross Scheduled Income 114600
Expense: Other 4500
Gross Adjusted Income 114600
Total Expenses 36830.61
Gross Rent Multiplier 13.52
Nwm_Totalmonthlyincome 9550
Lot/ Land Details
Site Features Cable TV, High Speed Internet, RV Parking
Rental est.: $1,570/month
Gross rent multiplier: 74.3
Powered By Movoto
  • Aug 2025
    Public Records
  • Aug 1, 2025 Sold
    $550,000 (-60.7%)
  • Aug 2025
    mls logo MLS # 2318458
  • Aug 1, 2025 Sold
    $1,400,000 (-17.6%)
  • May 4, 2025 Pending
    —
  • Feb 24, 2025 Price Change
    $1,699,990 (-5.6%)
  • Jan 1, 2025 Listed
    $1,800,000 (-6.5%)
  • Apr 2023
    mls logo MLS # 2062051
  • Apr 30, 2023 Listed
    $1,925,000 (+773.0%)
  • Aug 2012
    Public Records
  • Aug 3, 2012 Sold
    $220,500
  • 506 508 Cherry Ave
    $1.4M
  • Sumner
    $570K -14% y/y
  • 98390
    $569K -5% y/y
  • Sumner
    $569K -7% y/y
No chart available
Statistics calculated by Movoto

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8/10
Maple Lawn Elementary School
public Grades PK, K-5
Sumner School District
8/10
Sumner Middle School
public Grades 6-8
Sumner School District
7/10
Sumner Senior High School
public Grades 9-12
Sumner School District
Source: GreatSchools.org © 2026. All rights reserved.

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