2325 10th Avenue E, Seattle, WA 98102

$6,400,000
13,700
SqFt

Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.

Sold Price
$6,400,000
List Price
$6,450,000
Status
SOLD
MLS#
1419831
Closing Date
Oct 23, 2019
Days on Market
149
Style
56 - 10+ Units
Finished SqFt
13,700
Area Total SqFt
13700
Annual Tax Ammount
58036
Lot Size (sq ft)
7,680
Sewer
Sewer Connected

Property Description

This is a classic 1929 brick building in an excellent North Capitol Hill location. Building offers 20 well maintained units with renovation potential as units have not recently been updated. There is a clear value add opportunity if someone wanted to update the units to today's standards. The building offers garage parking with space for 6, a common laundry area and an updated electrical system.

Additional Information

List Date
2019-05-27 00:00:00
Community
North Capitol Hill
Net Operating Income
$255,911
Gross Adjusted Income
$372,655
Gross Scheduled Income
$384,180
Total Monthly Income
$32,015
Insurance Expenses
$5,581
Water/Sewer/Garbage Expenses
$24,089
Gross Rent Multiplier
16
Total Expenses
$116,744
Cap Rate
3.9699999999999998
Vacancy Rate
3
Total Number of Units
20
Unit Name
2325
Potential Terms
Cash Out
Year Built
1929
Roof
Flat
Other Expenses
29038
School District
Seattle
Total Monthly Income
$32,015
Gross Scheduled Income
$384,180
Vacancy Rate
3
Gross Adjusted Income
$372,655
Tax Year
2018
Insurance Expense
$5,581
W/S/G Expenses
$24,089
Total Expenses
$116,744
Net Operating Income
$255,911
Gross Rent Multiplier
16
Cap Rate
3.9699999999999998
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