About Home value Property history Tax history Market statistics Schools Neighborhood Places of interest

728 Cherry Ave, Sumner, WA 98390

$4,509,402

Last sold 07/14/2022 for $4.8M

—
bed
—
bath
14,580
Sqft ($329/Sqft)

House not for sale

About 728 Cherry Ave

Property type House

Neighborhood

Year built 1967

HOA fee $0/month

Lot size 0.77 Acre

Movoto estimate

Property description

Turn-key asset or Total Value-Add play. Sumner Station is comprised of twenty spacious one and two-bedroom units with assigned surface parking. All units have been either slightly or fully renovated. The fully renovated units include hardwood flooring, granite countertops and stainless steel appliances. Two parcels comprised of three separate two-story buildings. Adjacent to Sounder Train Station. 33,486 SF Lot zoned TC with potential for multiple redevelopment options. Roof is a TPO membrane material. Within walking distance to historic Downtown Sumner's popular local restaurants, bars, cafes, and grocery stores. Convenient commuting location.

Listed by

Listing Agent - Joseph Kinkopf

Listing Office - Westlake Associates, Inc.

Source: NWMLS

MLS#1930523 • last updated 2 years ago

Movoto checked NWMLS for data 13 minutes ago

Overview
Levels/Style	Multi Family
MLS #	1930523
SubType	Multi-Family
Type	Residential Income
SqFt	14580
Status	Sold
Lot Size (SqFt)	33486
Lot Size (Acres)	0.7687
Property Tax	24436
Buying Office	ZNonMember-Office-MLS
Year Built	1967
Buying Office Phone	425-820-9200

Interior

Exterior
Foundation	Poured Concrete
Roof	See Remarks
# Open Parking Spaces	30
# Parking Spaces	30
# Uncovered Spaces	30
Exterior Features	Wood Products

Amenities / Utilities
Sewer/ Septic	Sewer Connected
Power Production: Type	Electric

Location
County	Pierce
Subdivision	Sumner
Area	74 - Sumner
High School District	Sumner-Bonney Lake
APN	420243120
Zoning	Multi-Family

Multifamily Details
Net Operating Income	262468
Capitalization Rate	5.53
Expense: Insurance	2967
Gross Scheduled Income	397476
Expense: Other	57403
Gross Adjusted Income	377602
Total Expenses	115134
Gross Rent Multiplier	12
Nwm_Totalmonthlyincome	33123
Vacancy Rate	5

$4.5M

Range: $4.05M-$4.96M

Last 30 days

Rental est.: $1,513/month

• Gross rent multiplier: 264.4

Lower your payment with the loan terms that fit you.

Jul 2022
MLS # 1930523
Jul 14, 2022 Sold
$4,800,000 (+1.1%)
May 17, 2022 Pending
—
May 9, 2022 Listed
$4,750,000

Year Property taxes Tax assessment
2025
$21,048 +115.6%

$1,799,700 +90.55%
2024
$9,764 +2.7%

$944,500
2023
$9,506 -4.6%

$944,500 +12.01%
2022
$9,963 +3.2%

$843,200 +15.0%
2021
$9,656 +16.1%

$733,200
2019
$8,317

$733,200

728 Cherry Ave
$4.8M
74 - Sumner
—
98390
$585K +3% y/y
Sumner
$585K 0% y/y

No chart available

Statistics calculated by Movoto

	Est. value	Bed/bath	Sqft	mi
712 Cherry Ave, Sumner, WA 98390	$703,000	4/3	2,204	0.01
704 Cherry Ave, Sumner, WA 98390	$687,000	5/3	2,406	0.03
725 Cherry Ave, Sumner, WA 98390	$376,000	2/1	726	0.03
723 Cherry Ave, Sumner, WA 98390	$475,000	2/1	974	0.03
721 Cherry Ave, Sumner, WA 98390	$457,000	2/1	1,045	0.03
733 Cherry Ave, Sumner, WA 98390	$480,000	4/1	952	0.04
717 Cherry Ave, Sumner, WA 98390	$460,000	2/1	903	0.04
801 Cherry Ave, Sumner, WA 98390	$410,000	2/1	780	0.05

Estimated values are based on public record data and automated valuation models. Values are not guaranteed and may not reflect current market conditions.