Bought with Best Choice Realty
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Key Details
Sold Price $955,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,460 sqft
Price per Sqft $276
Subdivision Gatewood
MLS Listing ID 2222226
Sold Date 06/06/24
Style 54 - 4-Plex
Year Built 1963
Annual Tax Amount $8,800
Lot Size 6,250 Sqft
Lot Dimensions 50 x 124
Property Description
Investor Alert! Profitable investment opportunity in the heart of The vibrant Morgan Junction neighborhood of West Seattle. Two 2bed/1bath units on main floor and two 1bed/1bath units on lower level. Large deck w/westerly mountain & sound view. Garage for 2 cars plus off-street parking for 2 more cars. Alley/street access. Walk/bike to everything West Seattle has to offer. 85 walk score. Long-term tenants, low vacancies and low turnover. Significant rental upside as rents are low. The cap rate is currently sitting at 5.62%, but could be higher if an investor wants to upscale the units or get creative with shorter-term (AirBNB), higher rent leases. Zoned LR2 for future development options.
Location
State WA
County King
Area 140 - West Seattle
Interior
Interior Features Ceramic Tile, Hardwood, Wall to Wall Carpet
Flooring Ceramic Tile, Hardwood, Vinyl, Carpet
Fireplace Yes
Exterior
Exterior Feature Brick, Wood
Amenities Available Deck, Fenced-Partially, Patio
Waterfront No
View Y/N Yes
View Mountain(s), Sound
Roof Type Composition
Building
Lot Description Curbs, Paved, Sidewalk, Value In Land
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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