Fully occupied, income-producing Seattle triplex delivering immediate cash flow with stable rents already in place and a clear path to higher returns. This well-maintained asset features one-year leases with reliable tenants, providing predictable in-place income and stable occupancy from day one. A future utility restructuring creates a realistic opportunity to… Read More improve operations and increase returns, with the property currently operating at a 4.35% cap rate and the potential to reach an estimated 6.63% pro forma cap rate at the current list price. Ask for the Investment Snapshot. Ideally located in the desirable Rainier Valley corridor between Hillman City and Brighton, the property offers quick access to Rainier Ave S, I-5, I-90, public transit, cafés, parks, schools, and major employment centers. This turnkey investment is ideal for local, out-of-area, or 1031 exchange buyers seeking a well-leased Seattle multifamily asset with immediate revenue, long-term appreciation potential, and a visible NOI growth strategy. Buyer to comply with all Washington and Seattle tenant-protection laws and honor existing leases. Financials, rent roll, and maintenance history available upon request. Read Less
Listing courtesy of eXp Realty 888-317-5197
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
2
Days on Website
2
Last Updated
Property Type
Triplex
Square Ft.
2,740
Lot Size
0.12 Acres
Year Built
1952
Property Tax
$8,842
MLS Number
2521049
30 Days Snapshot Of 98118
$957k
+16%
(avg) sold price
45
+9%
homes sold
35
-33%
(avg) days on market
Snapshot
Area Map
Additional Details | Source HomeJunction
Building
Building Area Total: 2740, Building Area Units: Square Feet, Calculated Square Footage: 2740, Elevation Units: Feet, Leasable Area: 2750, Living Area: 0, Number Of Units Total: 3, Stories Total: 2, Structure Type: "Triplex", Units In Building Total: 3, Year Built: 1952, Year Built Effective: 1952
Property Condition: "Very Good", Site Features: Cable TV, Fenced-Partially, Gas Available, Outbuildings, Patio, RV Parking, Zoning Description: Residential
Roof
Roof: "Composition"
Sewer
Sewer: "Sewer Connected", Sewer Company: SPU
Utilities
Electric Expense: 4820.16, Fuel Expense: 3679.68, Power Company: Seattle City Light, Power Production Type: "Electric", "Natural Gas", Water Company: SPU, Water Source: "Public"
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The listings presented here may or may not be listed by Wesley Lau. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing.
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The "three tree" icon indicates listings provided by Northwest Multiple Listing Service. The listings presented here may or may not be listed by Iolanthe Chan-McCarthy. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. Listings last updated on .
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