1510 Market Street, Kirkland, WA 98033

$2,600,000
3,225
SqFt

Listing courtesy of Keller Williams Eastside. Selling Office: Realogics Sotheby's Int'l Rlty.

Sold Price
$2,600,000
List Price
$2,900,000
Status
SOLD
MLS#
2001752
Closing Date
Jul 19, 2023
Days on Market
271
Style
54 - 4-Plex
Finished SqFt
3,225
Area Total SqFt
3225
Annual Tax Ammount
17600
Internet Provider
Xfinity
Lot Size (sq ft)
10,445
Sewer
Sewer Connected

Property Description

Kirkland's premier neighborhood investment property with prime Market Street location, stable rental income and future “Market Street Corridor” MSC1 zoning development opportunities. Currently hosts an income producing 4-plex w/2-2 BR and 2-1 BR units with stable tenants and rental income renewed annually. Property’s exceptional location, lot size and flexible MSC1 zoning provide future redevelopment opportunities including multiple townhomes, condos and/or retail and office space. Seller has obtained professionally drafted architectural feasibility studies that outline future value enhancing redevelopment possibilities.

Additional Information

List Date
2022-10-21 00:00:00
Community
East Of Market
Net Operating Income
$62,103
Gross Adjusted Income
$92,400
Gross Scheduled Income
$92,400
Total Monthly Income
$7,700
Insurance Expenses
$1,294
Water/Sewer/Garbage Expenses
$5,520
Gross Rent Multiplier
37.34
Total Expenses
$30,812
Total Number of Units
4
Unit Name
1510
Potential Terms
Cash Out, Conventional
Year Built
1960
View
Lake, Mountain(s), Partial, Territorial
Roof
Flat
Site Features
Cable TV, Deck, Gas Available, High Speed Internet
Electric Expenses
515
Other Expenses
5883
Energy Source
Electric
School District
Lake Washington
Elementary School
Peter Kirk Elementary
Middle School
Kirkland Middle
High School
Lake Wash High
Total Monthly Income
$7,700
Gross Scheduled Income
$92,400
Gross Adjusted Income
$92,400
Tax Year
2022
Insurance Expense
$1,294
W/S/G Expenses
$5,520
Total Expenses
$30,812
Net Operating Income
$62,103
Gross Rent Multiplier
37.34
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