Listing courtesy of Real Property Associates 206-523-0300
$1,428,000
Exceptional 13-unit investment and redevelopment opportunity on a 13,440 SF lot in prime and highly connected North Seattle location. The property includes two buildings (3-unit building and a 10-unit building) with a desirable mix of studio, one- and two-bedroom residences, offering multiple investment strategies. Continue operating as an income-producing apartment… Read More community, increase returns through rent optimization and strategic improvements, or hold as a long-term development site. Current gross scheduled income is approximately $14,288 per month, with additional upside as several rents remain below market. Most units have been updated. NC3-55 zoning may offer potential for a future multifamily development of approximately 60–80 units; buyer to verify all development feasibility. Conveniently located near Northgate Light Rail, transit, shopping, dining, major employers and daily amenities, with an 87 Walk Score. A compelling combination of current income, value-add potential and long-term redevelopment opportunity. Read Less
Listing courtesy of Real Property Associates 206-523-0300
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
82
Days on Website
82
Last Updated
Property Type
Multi Family
Square Ft.
5,312
Lot Size
0.31 Acres
Year Built
1950
Property Tax
$19,956
MLS Number
2554023
Additional Details | Source HomeJunction
Building
Built in 1950, Built in 1950 (effective), 2 stories, Construction Materials: Brick, Wood
Cooling
None
Expenses
Electric: $4,851, Fuel: $1,151, Insurance: $9,086, Other Expense: $17,583
Exterior Features
Brick, Wood
Heating
Forced Air
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $165,038, Net Operating Income: $88,625
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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