307 N 138th Street, Seattle, WA 98133

$1,425,000
3,160
SqFt

Listing courtesy of Kidder Mathews. Selling Office: John L. Scott, Inc..

Sold Price
$1,425,000
List Price
$1,495,000
Status
SOLD
MLS#
1839825
Closing Date
Jan 28, 2022
Days on Market
59
Style
53 - Tri-plex
Building Condition
Good
Finished SqFt
3,160
Area Total SqFt
3160
Annual Tax Ammount
12934
Lot Size (sq ft)
9,315
Sewer
Sewer Connected

Property Description

Back on the market after Buyer's financing fell through. Townhome Development Opportunity with entitlements in hand in November. 8 Townhomes on a 9,315 sqft parcel in the great neighborhood of Bitter Lake. The property consists of an existing Triplex with large two 2x1 units and a 3x2 unit. An opportunity to owner occupy one unit and rent out the rest. An opportunity to renovate current units to achieve true market rents. Plenty of parking with easy access to downtown and other amenities in Bitter Lake and Broadview.

Additional Information

List Date
2021-11-30 00:00:00
Community
Bitter Lake
Net Operating Income
$54,475
Gross Scheduled Income
$78,000
Total Monthly Income
$6,850
Insurance Expenses
$1,120
Water/Sewer/Garbage Expenses
$4,300
Gross Rent Multiplier
27
Total Expenses
$24,876
Cap Rate
3.6
Vacancy Rate
4
Total Number of Units
3
Unit Name
307
Potential Terms
Cash Out, Conventional
Year Built
1963
Roof
Composition
Site Features
Fenced-Partially, Patio
Other Expenses
6522
Energy Source
Electric
School District
Seattle
Total Monthly Income
$6,850
Gross Scheduled Income
$78,000
Vacancy Rate
4
Tax Year
2021
Insurance Expense
$1,120
W/S/G Expenses
$4,300
Total Expenses
$24,876
Net Operating Income
$54,475
Gross Rent Multiplier
27
Cap Rate
3.6
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