3901 Martin Luther King Jr Way S, Seattle, WA 98108
- $1,515,000
- 7,344
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: Westlake Associates, Inc..
- Sold Price
- $1,515,000
- List Price
- $1,790,000
- Status
- SOLD
- MLS#
- 1517480
- Closing Date
- Feb 14, 2020
- Days on Market
- 73
- Style
- 55 - 5-9 Units
- Finished SqFt
- 7,344
- Area Total SqFt
- 7344
- Annual Tax Ammount
- 7939
- Lot Size (sq ft)
- 6,738
- Sewer
- Sewer Connected
Property Description
MLK Flats is well situated between the Mount Baker and Columbia City Light Rail stations and is convenient to Downtown Seattle Shopping, Restaurants, Amazon, Google and Facebook. Three units have been updated with in unit washer and dryer (Units 2, 6 and 8). Other units have been updated with fresh paint and cabinets. The former laundry room space has been demoed to add a tenth unit. Building is fully leased and under professional property management.
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Additional Information
- List Date
- 2019-12-03 00:00:00
- Community
- Jefferson Park
- Net Operating Income
- $99,262
- Gross Adjusted Income
- $139,001
- Gross Scheduled Income
- $144,225
- Total Monthly Income
- $12,018
- Insurance Expenses
- $3,500
- Water/Sewer/Garbage Expenses
- $10,600
- Gross Rent Multiplier
- 13
- Total Expenses
- $39,739
- Cap Rate
- 5.55
- Vacancy Rate
- 3
- Total Number of Units
- 9
- Unit Name
- 3901
- Potential Terms
- Cash Out
- Year Built
- 1963
- Roof
- Composition
- Other Expenses
- 17700
- School District
- Seattle
- Total Monthly Income
- $12,018
- Gross Scheduled Income
- $144,225
- Vacancy Rate
- 3
- Gross Adjusted Income
- $139,001
- Tax Year
- 2019
- Insurance Expense
- $3,500
- W/S/G Expenses
- $10,600
- Total Expenses
- $39,739
- Net Operating Income
- $99,262
- Gross Rent Multiplier
- 13
- Cap Rate
- 5.55
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