Property Details
470 – 480 S River Avenue
Buckley, WA 98321
$1,700,000
Pending
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Property Overview
Rare 8-unit value-add opportunity in Buckley featuring two adjacent 4-plexes. All units are 2-bed, 1-bath, 760 sqft, with private balconies. Potentially assumable financing at 4.75% interest with approximately 25.5 years remaining presents a significant advantage against today’s rate! Strong tenant history with long-term occupants all in place for 5+ years, currently all on month-to-month leases at below-market rents—providing immediate upside through rent increases. Each unit is individually metered, creating an opportunity for utility chargebacks, along with additional income from on-site coin-operated laundry. One unit is currently vacant, allowing for owner-occupancy or immediate minimal touch-up to lease at market rents. Multifamily inventory in Buckley is extremely limited, making it a rare opportunity to add this to your long-term portfolio!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending
County
Pierce
Neighborhood
Buckley
Listed
May 4, 2026
Financial Summary
Cap Rate
5.10%
Net Operating Income
$87,066
Gross Scheduled Income
$87,066
Gross Rent Multiplier
13.70
Total Expenses
$36,534
Building & Use
Building Sq Ft
6,080
Leasable Area
6,080 sqft
Total Units
8
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
13,199 sqft
Year Built
1980
Exterior & Lot
Lot Size
0.30 sqft
Year Built
1980
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Location
City
Buckley
County
Pierce
Coordinates
47.15822, -122.03365
Additional Information
Tax Year
2026
Annual Taxes
$14,326
Possession
Array
Based on information submitted to the MLS GRID as of May 13, 2026 10:45 PM. 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.
