Property Details
21 E Sullivan Street
Allyn, WA 98524
$899,999
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Property Overview
Exceptional newer construction duplex with North Bay views in Allyn! Built in 2022, this thoughtfully designed 2-story duplex offers a rare investment or living opportunity with two identical mirrored units, each featuring a spacious open-concept layout, high ceilings, and durable vinyl plank flooring throughout. Each unit includes a beautifully appointed kitchen with an 8-foot quartz island, farmhouse sink, propane range, crown molding cabinetry, and soft-close cabinets, ideal for everyday living and entertaining. The primary suite offers a walk-in closet and an ensuite bath with soaking tub, oversized walk-in shower, and double sinks. Additional features include tankless on-demand water heaters, dedicated mudrooms, and two-car garages for each unit. Situated on a fully fenced 7,841 sq ft lot, the property offers peaceful North Bay territorial and partial water views. Conveniently located near Lakeland Village Golf Course and the Allyn waterfront. Investment highlights include projected gross rents of $67,080 annually, 6% vacancy estimate, and adjusted gross income of $63,055. Operating expenses approximately $6,585 annually with an estimated NOI of $56,470. At a list price of $989,000, this reflects an approximate 5.7% cap rate. Buyer to verify all information to their satisfaction.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Mason
Neighborhood
Allyn
Listed
Mar 26, 2026
Original Price
$989,000
Structure Type
Duplex
Parcel Number
122205060001
Tax & HOA
Annual Property Tax
$4,852 (2025)
Est. Monthly Tax
$404/mo
Financial Summary
Cap Rate
5.70%
Net Operating Income
$56,470
Gross Scheduled Income
$67,080
Gross Rent Multiplier
14.74
Total Expenses
$6,585
Vacancy Rate
6.0%
Building & Use
Building Sq Ft
3,502
Leasable Area
1,751 sqft
Total Units
2
Zoning
Multi-Family,Residential
Possible Use
Multi-Family, Residential
Lot Size
7,841 sqft
Year Built
2022
Exterior & Lot
Lot Size
0.18 sqft
Year Built
2022
Garage
4 spaces
Exterior Materials
Cement Plank
Sewer
Sewer Connected
Lot Features
Dead End Street, Paved
Exterior Features
Cement Planked
Community & Access
Directions
From Belfair head south on WA-3 S for 5.4 miles. Turn right onto E Lakeland Dr and continue 0.1 miles. Turn right onto Wheelwright St N and proceed 0.2 miles. Turn right onto E Sullivan St.
Location
City
Allyn
County
Mason
Coordinates
47.38328, -122.83013
Additional Information
Tax Year
2025
Annual Taxes
$4,852
Possession
Array
Based on information submitted to the MLS GRID as of June 19, 2026 12:45 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
