Bought with ZNonMember-Office-MLS
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Key Details
Sold Price $10,460,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Capitol Hill
MLS Listing ID 1470592
Sold Date 09/30/19
Style 56 - 10+ Units
Year Built 2007
Annual Tax Amount $86,000
Lot Size 7,666 Sqft
Property Description
The Montage Condominiums located in one of Seattle’s most desirable neighborhoods, the bustling Pike/Pine corridor in Capitol Hill. Own 23 legal condominiums currently operated as an apartment building. Increasing rents just $100 per unit, implementing market rate charges for parking income & recapturing utility expenses generates a market cap rate of roughly 4.57%. Total est. market value of these sellable units are about 28% higher than the current offering price. 1:1 parking & storage ratio.
Location
State WA
County King
Area 390 - Central Seattle
Interior
Interior Features Forced Air, Ceramic Tile, Hardwood, Wall to Wall Carpet
Flooring Ceramic Tile, Hardwood, Carpet
Fireplace No
Exterior
Exterior Feature Cement/Concrete, Metal/Vinyl, Wood Products
Utilities Available Cable Connected, High Speed Internet, Sewer Connected, Electric, Natural Gas Connected
Amenities Available Cable TV, Deck, High Speed Internet, Patio
Waterfront No
View Y/N Yes
View City, Mountain(s), Territorial
Roof Type Flat
Building
Lot Description Alley, Curbs, Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Seattle
Others
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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