Property Details
5306 5308 51st Avenue Ct W
University Place, WA 98467
$874,000
Active
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Property Overview
Solid, turnkey duplex in the highly sought-after University Place area. Clean, meticulously maintained, and quality built in 2003, this property presents a rare opportunity. Each spacious unit offers 2 bedrooms, 1.75 baths, a primary suite with walk-in closet, vaulted ceilings, fireplace, and a large laundry room with in-unit washer and dryer. Situated on an oversized 11,800 SF corner lot in a quiet cul-de-sac, each unit also includes an attached two-car garage plus ample additional parking. Separate electrical and water meters. Tenants pay their own electricity, water, and garbage. Excellent opportunity for an owner-occupant / house hacker, or investor. Live in one unit and offset your mortgage with rental income or continue operating as a low-maintenance investment in one of Pierce County's most desirable rental markets.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
University Place
Listed
Jul 23, 2026
Structure Type
Duplex
Parcel Number
0220235043
Tax & HOA
Annual Property Tax
$7,874 (2026)
Est. Monthly Tax
$656/mo
Financial Summary
Cap Rate
5.25%
Net Operating Income
$45,710
Gross Scheduled Income
$57,480
Gross Rent Multiplier
14.00
Total Expenses
$11,195
Vacancy Rate
1.0%
Building & Use
Building Sq Ft
2,440
Leasable Area
2,443 sqft
Total Units
2
Zoning
Residential
Possible Use
Residential
Lot Size
11,796 sqft
Year Built
2003
Exterior & Lot
Lot Size
0.27 sqft
Year Built
2003
Garage
4 spaces
Exterior Materials
Metal/Vinyl
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Cul-De-Sac
Exterior Features
Metal/Vinyl
Community & Access
Directions
**GPS May be wrong** S Orchard St, West On 53rd St W, Left on 51st Ave Ct W, Property on right corner
Location
City
University Place
County
Pierce
Coordinates
47.20917, -122.50643
Additional Information
Tax Year
2026
Annual Taxes
$7,874
Possession
Array
Based on information submitted to the MLS GRID as of July 29, 2026 2:21 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.
