About 5303 Parker Road E
6.05% Current Cap Rate | Sumner Park offers investors a prime opportunity to capitalize on the Sumner sub-market's robust rental market, projected to experience steady growth in 2025 and beyond, with minimal capital expenditure required. This 12,680-square-foot, 16-unit multifamily property is newly renovated, ensuring low immediate maintenance costs and strong tenant appeal. With an average market rent in Sumner of $1,841 as of May 2025, reflecting a 23.8% increase since 2020, the property is well-positioned to deliver consistent cash flow and long-term appreciation. Situated on a 50,560 square foot lot, future development opportunities exist to develop 29 units or 28 townhomes. Buyer to verify.
Features of 5303 Parker Road E
| MLS® # | 2389683 |
|---|---|
| Price | $3,530,000 |
| Price Per SqFt | $278 |
| Bathrooms | 0.00 |
| Square Footage | 12,680 |
| Acres | 1.16 |
| Year Built | 1968 |
| Type | Income |
| Sub-Type | Multi-Family |
| Status | Active |
Community Information
| Address | 5303 Parker Road E |
|---|---|
| Area | 73 - Sumner |
| Subdivision | Sumner |
| City | Sumner |
| County | Pierce |
| State | WA |
| Zip Code | 98390 |
Amenities
| Parking Spaces | 43 |
|---|---|
| Is Waterfront | No |
Interior
| Fireplace | No |
|---|---|
| # of Stories | 1 |
Exterior
| Exterior Features | Wood Products |
|---|
School Information
| District | Sumner-Bonney Lake |
|---|
Additional Information
| Days on Market | 9 |
|---|---|
| Cumulative Days on Market | 9 |
| Days on Website | 8 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Blake Investment Advisors |
|---|