1154 NW 59th Street, Seattle, WA 98107
- $4,900,000
- 9,006
- SqFt
Listing courtesy of Westlake Associates, Inc.. Selling Office: First Exclusive, Inc..
- Sold Price
- $4,900,000
- List Price
- $4,995,000
- Status
- SOLD
- MLS#
- 1955227
- Closing Date
- Nov 15, 2022
- Days on Market
- 101
- Style
- 56 - 10+ Units
- Finished SqFt
- 9,006
- Area Total SqFt
- 9006
- Annual Tax Ammount
- 35487
- Lot Size (sq ft)
- 10,200
- Sewer
- Sewer Connected
Property Description
Located in Seattle’s popular Ballard neighborhood, Ravenwood is an attractive 14-unit building that has been meticulously maintained. The low maintenance building is comprised of spacious one-bedroom units with high quality finishes that offer desirable modern amenities. The apartments have efficient floor plans that offer an abundance of natural light and open kitchen designs that highlight the stylish stainless appliances. All the units have newly surfaced decks with territorial views of the surrounding urban neighborhood. Ravenwood has an excellent value-add opportunity for prospective buyers to make easy cosmetic improvements like flooring & surfaces over time and capitalize on the rising rental rates of surrounding newer construction.
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Additional Information
- List Date
- 2022-08-06 00:00:00
- Community
- Woodland Park
- Net Operating Income
- $214,306
- Gross Adjusted Income
- $286,445
- Gross Scheduled Income
- $295,304
- Total Monthly Income
- $24,608
- Insurance Expenses
- $4,750
- Water/Sewer/Garbage Expenses
- $14,482
- Gross Rent Multiplier
- 16.9
- Total Expenses
- $72,139
- Cap Rate
- 4.29
- Vacancy Rate
- 3
- Total Number of Units
- 14
- Unit Name
- 1154
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1990
- Roof
- Composition
- Other Expenses
- 17420
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $24,608
- Gross Scheduled Income
- $295,304
- Vacancy Rate
- 3
- Gross Adjusted Income
- $286,445
- Tax Year
- 2022
- Insurance Expense
- $4,750
- W/S/G Expenses
- $14,482
- Total Expenses
- $72,139
- Net Operating Income
- $214,306
- Gross Rent Multiplier
- 16.9
- Cap Rate
- 4.29
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