8805 14th Ave S, Seattle, WA 98108

$1,950,000
5,140
SqFt

Listing courtesy of Torre Realty.

List Price
$1,950,000
Status
ACTIVE
MLS#
1517590
Days on Market
5
Style
56 - 10+ Units
Building Condition
['Remodeled']
Finished SqFt
5,140
Lot Size (sq ft)
7,800

Property Description

Newly remodeled 10 unit apartment complex with courtyard and patios, parking for 5 cars on site, coin-operated laundry and storage. All units were completely remodeled in 2017-2019: new floors, kitchens, bathrooms, paint. Building has a new roof, gated access and will get new windows. Fully occupied and well maintained with 0% vacancy and excellent financials (attached). RRIO inspection has been successfully passed in 2019. Zoned commercial C2-40 for future growth and development.

Additional Information

List Date
2019-09-11 00:00:00
Community
South Park
Property Type
MULT
Units
10
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1959
Total Parking
5
Uncovered Parking
5
Exterior
Brick, Wood
Roof
Built-Up
Site Features
Cable TV, Fenced-Fully, Gated Entry, High Speed Internet, Patio
Lot Details
Paved Street, Sidewalk
School District
Seattle
Elementary School
Concord
Middle School
Denny Mid
High School
Sealth High
Total Monthly Income
$10,077
Gross Scheduled Income
$120,928
Vacancy Rate
3
Gross Adjusted Income
$89,023
Annual Taxes
$7,202
Tax Year
2018
Insurance Expense
$1,507
W/S/G Expenses
$7,367
Total Expenses
$31,905
Net Operating Income
$66,767
Gross Rent Multiplier
16
Cap Rate
3

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
514
Unit 1 Rent
$950
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
514
Unit 2 Rent
$1,025
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
514
Unit 3 Rent
$950
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
514
Unit 4 Rent
$1,000
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
524
Unit 5 Rent
$1,025
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
524
Unit 6 Rent
$950
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