Sumner 16 Units

Cherry Ave, Sumner, WA 98390

0.25 Acres
$575,000

Listing Details

List Price
$575,000
List Price Per SF
$52.80
List Price Per Acre
$2,300,000
Cap Rate
1%
List Date
6/08/2022
Available Date
6/08/2022
Show Instructions
Call broker
Listing ID
30955338

Sumner 16 Units

Don't miss out on one of the ONLY multi-family development sites available right in Downtown Sumner. This property is located within the town center which allows it to qualify for 8-12 year tax exemption! Majority of the preliminary work has been completed allowing a quick turn around to getting permits and breaking ground. The zoning allows for 16 units of multi-family with parking on site. This property is adjacent to the Sounder Train Station. Walking distance to Main Street in Sumner, cafes, restaurants, bars and grocery stores. It has quick access to Highway 410 & 167. With the desirability of Downtown Sumner and a huge shortage of housing, this would be a perfect property to develop or land bank for later use.

Space Details

Total Available
0.25 Acres
Primary Use
Land
Secondary Uses
Multi-Family
Investment
Yes

Property Highlights

Type
 Land: Multi-Family
Size
0.25 Acres
Zoning
MF/C-5
Submarket
CBA Puyallup/Sumner

Contact

Josh Kumar

Windermere Real Estate/Lake Tapps

CBA

Source: Commercial Brokers Association (CBA)

More Information

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