Bought with Windermere Real Estate Central
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Key Details
Sold Price $2,410,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,952 sqft
Price per Sqft $404
Subdivision University District
MLS Listing ID 2165235
Sold Date 05/22/24
Style 56 - 10+ Units
Year Built 1964
Annual Tax Amount $20,166
Lot Size 3,878 Sqft
Property Description
Turn around 27 unit apartment complex listed at 5.2% Cap Rate based so far on 2023. Current vacancy at 19% which allows for instant potential to increase cap rate.This complex has 1 kitchen 4 showers and 4 rest rooms; coin op laundry, and 6 parking stalls. All studios are decent sized with mini fridge, microwave, bed, chair and desk. All windows upgraded to vinyl cased thermopane. All original systems are intact and working well. All rooms have baseboard radiator heat supplied by central gas fired boiler with four zones, dedicated thermostat on each floor. 2 hot gas hot water tanks. In 2021 and 2022, all flooring was upgraded to LVP. New Torch down roof is 2017. Ask Broker to see more pictures of the property.
Location
State WA
County King
Area 710 - North Seattle
Interior
Flooring Vinyl Plank
Fireplace Yes
Exterior
Exterior Feature Wood
Amenities Available Outbuildings, Sprinkler System
Waterfront No
View Y/N No
Roof Type Flat
Building
Lot Description Alley, Curbs, Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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