3625 Beach Drive SW, Seattle, WA 98116
- $6,500,000
- 10,295
- SqFt
Listing courtesy of Westlake Associates, Inc..
- List Price
- $6,500,000
- Status
- ACTIVE
- MLS#
- 1903718
- Price Change
- ▼ $300,000 1653530295
- Days on Market
- 109
- Style
- 56 - 10+ Units
- Finished SqFt
- 10,295
- Area Total SqFt
- 10295
- Lot Size (sq ft)
- 42,193
Property Description
The property, consisting of eight spacious 1-bedunits and five 2-bed units, underwent a total interior and exterior renovation in 2020 and was fully leased in the spring of 2021. Interior unit renovations (in 12 of 13 units) include granite countertops in kitchens and bathrooms, stainless steel appliances, luxury plank flooring, in-unit laundry, double pane windows, electrical panel upgrades, new lighting fixtures, and updated pex plumbing supply lines. Exterior updates include new pilings, siding, resurfaced patios, steel railing systems, walkways, roofing, and paint. The property has four covered parking spaces and one additional off-street parking stall which provide additional income. Unobstructed views of Puget Sound & Olympic Mts.
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Additional Information
- List Date
- 2022-03-18 23:38:09
- Community
- Beach Drive
- Potential Terms
- Cash Out
- Year Built
- 1954
- Waterfront
- Yes
- View
- Mountain(s), Sound
- Roof
- Flat
- Site Features
- Patio
- Heating/Cooling Type
- Baseboard
- Other Expenses
- 50621
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $34,221
- Gross Scheduled Income
- $410,652
- Vacancy Rate
- 4
- Gross Adjusted Income
- $394,226
- Tax Year
- 2021
- Insurance Expense
- $14,633
- W/S/G Expenses
- $15,600
- Total Expenses
- $120,949
- Net Operating Income
- $273,277
- Gross Rent Multiplier
- 16.64
- Cap Rate
- 4.2
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