$875000
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Bed
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Bath
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1446 SqFt
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59 DOM
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Built: 1945
- Status: Active
Love this home?
Srinivas Kasam
CEO & Founder
(650)533-3259DAUD APARTMENTS: ~25-UNIT - NEARLY SHOVEL-READY REDEVELOPMENT Unrivaled "Ready-for-Submittal" opportunity in the high-growth 98499 core. This de-risked asset includes over $100k in pre-paid professional engineering, mechanical design, and architectural plans—bypassing 6-8 months of planning and carry costs. VALUE & EQUITY: Verified 2021 Appraisal valued the raw land at $935,000. Current pricing offers immediate "paper equity" before accounting for significant soft-cost additions. THE DRAINAGE DIVIDEND: Superior soil profile with a verified 20.0 in/hr design infiltration rate. This "Class A" soil allows for low-cost drywell systems, potentially saving $250k+ vs neighboring sites requiring concrete detention vaults. DEVELOPMENT SPECS: * High-Density MF-3 Zoning (54 Units/Acre). Fully engineered for a 25-unit project. Includes high-efficiency Mitsubishi VRF HVAC design (exceeds 2021 Energy Code). 12-Year MFTE Eligibility confirmed by the City. INCOME & EXIT: Two existing occupied residences provide $3,700/mo gross carry income during the permitting phase. Proven market absorption: nearby builds achieved 23 units/mo lease-up. Dual-exit potential: design supports future condo conversion for maximum ROI. Located 0.25 miles from I-5 and 1.0 mile to JBLM (McChord Field Gate). Full Data Room available upon request. LAs are friendly and helpful! Give us a call.
Listing Provided Courtesy of Claire Michelle Fralish, eXp Realty
General Information
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NWM2463229
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Multi Family
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59 DOM
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0.45 acres
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1446
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1945
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Multi-F
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Pierce
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Buyer To Verify
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Buyer To Verify
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Buyer To Verify
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Residential Incom
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Multi Family
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Listing Provided Courtesy of Claire Michelle Fralish, eXp Realty
Kasamestates data last checked: Mar 02, 2026 06:33 | Listing last modified Feb 20, 2026 22:56,
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