Listing #:
- 2145946
- Price:
- $1,150,000
- Status:
- Active
- Property Type:
- Multi-Family
- Type:
- 4-Plex
- # of Units:
- 4
- # of Acres:
- 0.11
- Year Built:
- 1980
- Comm/Assn:
- Highland Park
- City:
- Seattle
- County:
- King
- State:
- WA
- Zip:
- 98106
- Right of 1st Refusal:
- No
QR Code
Description
A Value-add Opportunity To Acquire A Partially Renovated 4plex In The West Seattle Neighborhood, Highland Park. The Subject Consists Of Two One Bed And Two Two-bedroom Apartments. The One Beds Were Fully Renovated In 2023 And Achieved A 42% Rent Increase. The Same Upside Is Available For The Two Beds, A $60k Renovation Budget Will Produce A $703 Increase In Rent Per Unit, Delivering A 28% Return On Investment In The First Year. This Is An Excellent Opportunity For An Astute Investor To Create Value In An Asset That's Poised For Growth In The Future. The Subject Is In The Path Of Progress As Two New Townhome Developments Were Built And Sold In The Last Few Years. This Street Is Attracting Capital And A New Investor Can Catch This Wave.
Property Features
- Cap Rate:
- - 4.3
- Common Interest:
- - Multi-Family
- Exterior Features:
- - Stucco
- :
- - Available
- Green Energy Efficient:
- - Thermal Windows
- Gross Scheduled Income:
- - $66,900.00
- Heating Y/N:
- - Yes
- Insurance Expense:
- - $1,881.00
- Leasable Area:
- - 2,696.00 Square Feet
- Net Operating Income:
- - $49,252.00
- Amenities:
- - Thermal Windows
- Gross Adjusted Income:
- - 65562
- Leased Items:
- - None
- Parking Uncovered Spaces:
- - 5
- Site Features:
- - Deck
- - Fenced-Fully
- - Fenced-Partially
- - Patio
- Style Code:
- - 54 - 4-Plex
- Total Expenses:
- - 21110
- Total Monthly Income:
- - 5975
- Units Below Grade:
- - false
- Vacancy Rate:
- - 2
- Water Sewer Garbage:
- - 5970
- Open Parking Spaces:
- - 5
- Open Parking Y/N:
- - Yes
- Other Expense:
- - 5028
- Parcel Number:
- - 7750500010
- Property Condition:
- - Good
- Security Features:
- - PartiallyFenced
- - FullyFenced
- Stories Total:
- - 2
- Structure Type:
- - Quadruplex
- Annual Tax Amount:
- - $8,231.00
- Tax Year:
- - 2022
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