4636 4640 22nd Ave NE Unit 1-12, Seattle, WA 98105

$3,900,000
11,880
SqFt

Listing courtesy of Kidder Mathews. Selling Office: .

Sold Price
$3,900,000
List Price
$3,700,000
Status
SOLD
MLS#
1243001
Closing Date
May 10, 2018
Days on Market
27
Style
56 - 10+ Units
Finished SqFt
11,880
Lot Size (sq ft)
10,500

Property Description

Located in the heart of Seattle’s vibrant University District just blocks from the UW, the Penthouse presents investors with the rare opportunity to purchase a well-built, value-add asset in a highly profitable & stable apartment submarket minutes from Downtown Seattle. The Penthouse will also appeal to developers looking to build view housing or ±60 studios. Rental upside, strong occupancy, and historically high appreciation make this opportunity a very attractive long-term investment.

Additional Information

List Date
2018-02-08 00:00:00
Community
University District
Property Type
MULT
Units
12
Stories
3
Potential Terms
Cash Out, Conventional
Year Built
1948
Total Parking
4
View
Lake, Mountain, Partial
Exterior
Brick, Stucco
Roof
Flat
Site Features
['Deck']
Lot Details
Curbs, Paved Street, Sidewalk, Value In Land
School District
Seattle
Total Monthly Income
$17,430
Gross Scheduled Income
$209,155
Vacancy Rate
4
Gross Adjusted Income
$200,789
Annual Taxes
$25,057
Tax Year
2017
Insurance Expense
$4,600
W/S/G Expenses
$12,788
Total Expenses
$67,825
Net Operating Income
$132,964
Gross Rent Multiplier
18
Cap Rate
3

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
700
Unit 1 Rent
$1,350
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
620
Unit 2 Rent
$1,250
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
700
Unit 3 Rent
$1,400
Unit 4 Beds
2
Unit 4 Baths
1.00
Unit 4 Size
700
Unit 4 Rent
$1,400
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
700
Unit 5 Rent
$1,400
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
700
Unit 6 Rent
$1,400
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