5234 University Wy NE, Seattle, WA 98105

$4,900,000
13,873
SqFt

Listing courtesy of RE/MAX Metro Realty, Inc..

List Price
$4,900,000
Status
ACTIVE
MLS#
1345985
Days on Market
205
Style
56 - 10+ Units
Finished SqFt
13,873
Lot Size (sq ft)
4,650

Property Description

Income producing property with 17 residential and 2 commercial units. Potential abounds with NC3P65 zoning in the rezoned University district of Seattle. Continue to get rents while permitting, or do a value add remodel using IRS 481(a) adjustment cost segregation of this classic 1928 period building. Potential to rebuild to 7-story, 40 unit building. Current rent rolls available upon request. Buyers to verify all investment potential to their satisfaction. Coin-Op laundry onsite.

Additional Information

List Date
2018-06-26 00:00:00
Community
University District
Property Type
MULT
Stories
4
Potential Terms
Cash Out, Conventional
Year Built
1928
Exterior
Brick
Roof
Flat
Site Features
Cable TV, High Speed Internet
Lot Details
Paved Street, Sidewalk
School District
Seattle
Total Monthly Income
$20,053
Gross Scheduled Income
$240,633
Vacancy Rate
5
Gross Adjusted Income
$228,601
Annual Taxes
$38,783
Tax Year
2018
Insurance Expense
$14,520
W/S/G Expenses
$7,730
Total Expenses
$95,243
Net Operating Income
$95,243
Gross Rent Multiplier
24
Cap Rate
2

Room Dimensions

Unit 1 Baths
1.00
Unit 1 Size
880
Unit 1 Rent
$1,795
Unit 2 Baths
2.00
Unit 2 Size
880
Unit 2 Rent
$2,195
Unit 3 Baths
1.00
Unit 3 Size
250
Unit 3 Rent
$1,025
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Rent
$1,095
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Rent
$1,505
Unit 6 Baths
1.00
Unit 6 Size
300
Unit 6 Rent
$925
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