Property Details
480 S River Avenue
Buckley, WA 98321
$850,000
Pending
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Property Overview
Great value-add 4 plex opportunity here in Buckley! All units are 2-bed, 1-bath, 760 sqft, with private balconies. Potentially assumable loan at 4.75% interest with approximately 25.5 years remaining. Strong tenant history with long-term occupants, currently all on month-to-month leases at below-market rents, offering immediate upside potential. Each unit is individually metered, providing an opportunity for utility chargebacks—additional income from coin-op laundry. Adjacent 4-plex at 470 S River Ave is also available, offering a rare 8-unit portfolio opportunity! The seller prefers to sell both properties together.
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
6.10%
Net Operating Income
$51,933
Gross Scheduled Income
$70,200
Gross Rent Multiplier
12.10
Total Expenses
$18,267
Building & Use
Building Sq Ft
3,040
Leasable Area
6,080 sqft
Total Units
4
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
6,599 sqft
Year Built
1980
Exterior & Lot
Lot Size
0.15 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
47.15835, -122.03350
Additional Information
Tax Year
2026
Annual Taxes
$7,163
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.
