A garden style 17-unit community located ±2 miles from Downtown Burien and ±7 miles from Downtown Seattle. Immediate access to the RapidRide H Line connecting to Downtown Seattle and shopping, dining, and grocery. The property spans 5 buildings constructed between 1954-1979 (most units 1979) on a single parcel. Mostly 2-bed… Read More units (5 with extra 1/2 baths) plus a studio, 2 one-beds, and 2 three-beds with either 1.5 or 2 baths. 8 units have in-unit laundry, several have townhome layouts, and most have private yards. Units average 896 SF. Off-street parking lot. Average tenant tenure is 7+ years even after a 25% gross rent increase. Value-Add Options: Raise rents to market, use yard for storage and/or parking income, add bedrooms to a couple existing units, convert garage to ADU, develop an additional building, or redevelop full parcel under R4 zoning. (Buyer to verify feasibility of all development options.) Priced at less than $235,000 per unit, under $260 per square foot, and at $62 per square foot of land, the offering represents a below-replacement-cost basis for a well-located, high-upside multifamily asset in a designated Regional Growth Center. Read Less
Listing courtesy of Kidder Mathews 360-705-2800
Listing Snapshot | Source HomeJunction
Cumulative Days On Market
0
Days on Website
0
Last Updated
Property Type
Multi Family
Square Ft.
15,888
Lot Size
1.45 Acres
Year Built
1979
Property Tax
$38,727
MLS Number
2569544
30 Days Snapshot Of 98146
$765k
-2%
(avg) sold price
15
-44%
homes sold
44
-12%
(avg) days on market
Snapshot
Area Map
Additional Details | Source HomeJunction
Building
Building Area Total: 15888, Building Area Units: Square Feet, Calculated Square Footage: 15888, Construction Materials: Stucco, Wood, Elevation Units: Feet, Leasable Area: 15808, Living Area: 0, Number Of Units Total: 17, Stories Total: 2, Structure Type: Multi Family, Units In Building Total: 17, Year Built: 1979
Cooling
Cooling: None
Expenses
Other Expense: 50057
Exterior Features
Exterior Features: Stucco, Wood, Wood Products
Fireplaces
Fireplaces Total: 0
Garage
Garage Spaces: 2
Heating
Heating: Baseboard, Forced Air
Home Owner's Association
Association Fee: $0
Income
Net Operating Income: 218198
Lot
Features: Paved, Value In Land, 1 acres, 62950 square feet
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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