3216 Lake Washington Boulevard N, Renton, WA 98056

$2,713,000
6,384
SqFt

Listing courtesy of John L. Scott, Inc.. Selling Office: Skyline Properties, Inc..

Sold Price
$2,713,000
List Price
$2,888,000
Status
SOLD
MLS#
1517369
Closing Date
Mar 03, 2020
Days on Market
99
Style
55 - 5-9 Units
Building Condition
Good
Finished SqFt
6,384
Area Total SqFt
6384
Annual Tax Ammount
18004
Lot Size (sq ft)
13,920
Sewer
Sewer Connected

Property Description

Lake View Apartments, a charming 8 unit building next to the shores of Lake WA & down the street from the Seahawks training facility. First time on the market in over 57 years. There is an opportunity to significantly increase revenue by bringing rents up to market value! Building offers 16 onsite parking spaces, patios, view decks & courtyard. All units incl microwave, stove, fridge & washer/dryer. Easy access to freeways, new Eastside Rail Trail, The Landing, Boeing, T-Mobile, SeaTac airport.

Additional Information

List Date
2019-11-25 00:00:00
Community
Kennydale
Net Operating Income
$100,096
Gross Adjusted Income
$130,800
Gross Scheduled Income
$130,800
Total Monthly Income
$10,900
Insurance Expenses
$3,500
Water/Sewer/Garbage Expenses
$4,200
Gross Rent Multiplier
22
Total Expenses
$30,704
Cap Rate
3.47
Total Number of Units
8
Unit Name
3216
Potential Terms
Cash Out, Conventional
Year Built
1960
View
City, Lake, Mountain(s), Territorial
Roof
Composition
Site Features
Deck, Patio
Other Expenses
5000
School District
Renton
Elementary School
Kennydale Elem
Middle School
Mcknight Mid
High School
Hazen Snr High
Total Monthly Income
$10,900
Gross Scheduled Income
$130,800
Gross Adjusted Income
$130,800
Tax Year
2019
Insurance Expense
$3,500
W/S/G Expenses
$4,200
Total Expenses
$30,704
Net Operating Income
$100,096
Gross Rent Multiplier
22
Cap Rate
3.47
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