409 SW 155th St, Burien, WA 98166

$1,600,000
5,972
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$1,600,000
Status
ACTIVE
MLS#
1389318
Days on Market
51
Style
55 - 5-9 Units
Finished SqFt
5,972
Lot Size (sq ft)
7,500

Property Description

Charming and well-appointed 8-unit building located in the heart of downtown Burien and blocks away from the Olde Burien district. 6 1BD units and 2 2BD units. Common laundry, storage lockers, on-site parking and views from the upper units. Great opportunity to acquire an easy to manage apartment community with income upside and potential to add value. A buyer can take advantage of a strong, rising rental market and reap the rewards of immediate upside and long-term appreciation.

Additional Information

List Date
2018-11-27 00:00:00
Community
Downtown Burien
Property Type
MULT
Units
8
Stories
2
Potential Terms
Cash Out
Year Built
1986
Total Parking
12
Uncovered Parking
4
Exterior
Cement/Concrete
Roof
Flat
School District
Highline
Total Monthly Income
$8,755
Gross Scheduled Income
$105,060
Vacancy Rate
3
Gross Adjusted Income
$101,908
Annual Taxes
$14,000
Tax Year
2018
Insurance Expense
$2,560
W/S/G Expenses
$9,916
Total Expenses
$36,476
Net Operating Income
$65,432
Gross Rent Multiplier
15
Cap Rate
4

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
700
Unit 1 Rent
$1,100
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
900
Unit 2 Rent
$1,125
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
900
Unit 3 Rent
$1,200
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
700
Unit 4 Rent
$1,000
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
700
Unit 5 Rent
$1,075
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
700
Unit 6 Rent
$1,000
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