3825 34th Avenue W, Seattle, WA 98199

$5,995,000
13,237
SqFt

Listing courtesy of Lee & Associates Commercial RE.

List Price
$5,995,000
Status
PENDING
MLS#
1882339
Price Change
▼ $200,000 1651548308
Days on Market
158
Style
56 - 10+ Units
Finished SqFt
13,237
Area Total SqFt
13237
Lot Size (sq ft)
12,000

Property Description

Positioned just blocks from Magnolia’s Discovery Park, on two NC1-40 (M) zoned, 6,000 sf parcels, this 18-unit complex consist of two 1967 constructed buildings. The buildings are centered around a common courtyard and namesake fountain. The unit mix comprises of nine 1-bedroom and nine 2-bedroom units with an average unit size of 735 sf. The units feature individual washers and dryers, stainless steel appliances, undermount sinks, hard surface counters and LVT flooring, and several units have fireplaces. With nearly all units renovated, investors may realize additional upside to be had in rents in this opportunity to acquire 18 units in one Seattle’s most desirable residential neighborhoods.

Additional Information

List Date
2022-01-28 19:15:09
Community
Magnolia
Potential Terms
Conventional
Year Built
1967
View
Territorial
Roof
Composition
Site Features
Fenced-Partially
Heating/Cooling Type
Baseboard
Other Expenses
54301
Energy Source
Electric
School District
Seattle
Total Monthly Income
$32,411
Gross Scheduled Income
$388,560
Vacancy Rate
5
Gross Adjusted Income
$388,926
Tax Year
2021
Insurance Expense
$6,316
W/S/G Expenses
$21,600
Total Expenses
$125,990
Net Operating Income
$262,936
Gross Rent Multiplier
15.4
Cap Rate
4.39
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