Listing courtesy of Paragon Real Estate Advisors 206-623-8880
$1,100,000
The property is positioned just south of Columbia City and within the broader Rainier Valley submarket, served by the Sound Transit Link light rail and direct bus access to downtown Seattle. The offering is an operational value-add opportunity. The asset has been updated over the years and does not require… Read More a large capital investment to perform. Current scheduled rents sit below market and the property does not currently bill back utilities to tenants. A new ownership group can grow income through natural lease turnover and the implementation of a utility recapture program, lifting NOI from $58,979 to $73,386 without renovation expense. The Henderson 7-Unit is priced at $1,100,000, or $157,143 per unit and $252 per rentable square foot, reflecting a 6.0% current cap rate and a 7.4% market cap rate. The asset offers an investor a meaningful cap rate spread, durable in-place income on a 1978 wood-frame building that has been fully updated over the last five years. Read Less
Listing courtesy of Paragon Real Estate Advisors 206-623-8880
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
0
Days on Website
0
Last Updated
Property Type
Multi Family
Square Ft.
4,358
Lot Size
0.13 Acres
Year Built
1978
Property Tax
$15,770
MLS Number
2534478
30 Days Snapshot Of 98118
$854k
-11%
(avg) sold price
38
-2%
homes sold
43
+2%
(avg) days on market
Snapshot
Area Map
Additional Details | Source HomeJunction
Building
Building Area Total: 4358, Building Area Units: Square Feet, Calculated Square Footage: 4358, Elevation Units: Feet, Leasable Area: 4358, Living Area: 0, Number Of Units Total: 7, Stories Total: 3, Structure Type: "Multi Family", Year Built: 1978
The "three tree" icon indicates listings provided by Northwest Multiple Listing Service.
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.
Based on information submitted to the MLS GRID as of . 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.
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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