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Active
$5,350,000
/mo   Edit
MLS# 1547999
Multi-Family/Duplex
Built 1969
0.034 acres
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    Description:   The Lorraine Apartments is a well-maintained 20 unit building in an excellent location. The property provides a new investor excellent cash flow in todays low interest rate market as well as significant rental upside through unit renovations. Tours available upon request.

    Interior

    Approx. Sq Ft: 15,405 ft²
    Energy Source: Electric
    Heating and Cooling: Baseboard
    Floor Covering: Vinyl, Wall to Wall Carpet
    Amenities: Coin Op Laundry, Storage

    Utilities

    Sewer: Sewer Connected

    Location

    City: Seattle
    State: WA
    Zip Code: 98136
    Area: 140
    County: King
    School District: Seattle
    Latitude: 47.55106000
    Longitude: -122.38660500

    Building

    Year Built: 1969
    Roof: See Remarks
    Exterior: Stucco, Wood
    Number of Units in Building: 20

    School

    School District: Seattle

    Lot

    View: Mountain
    Lot Details: Alley, Paved Street, Sidewalk
    Lot Sq Ft: 1,500 ft²
    Number of Stories in Building: 3

    Site

    Community Name: West Seattle
    Site Features: Cable TV, Deck

    Rent

    Terms: Cash Out

    Finance & Taxes

    Homeowner Dues (monthly): None
    Tax Expense: $30,961
    Insurance Expenses: 3474
    Electrical Expenses: 2450
    Heating Expenses: 0
    Other Expenses: 89859
    Total Expenses: 113125
    Tax Year: 2019
    Gross Scheduled Income: 368556
    Vacancy Rate: 4
    Gross Adjusted Income: 353814
    Total Expenses: 113125
    Net Operating Costs: 240689
    Gross Rent Multiplier: 14
    Total Monthly Income: 30713

    Unit 1

    Description Unit 1: 18
    Sq Ft Unit 1: 625 ft²
    Bedrooms Unit 1: 1
    Bathrooms Unit 1: 1.00
    Range/Oven Unit 1: Y
    Refrigerator Unit 1: Y
    Dishwasher Unit 1: Y
    Washer/Dryer Unit 1: N
    Fireplaces Unit 1: 0
    Rent Unit 1: $1,325

    Unit 2

    Description Unit 2: 2
    Sq Ft Unit 2: 750 ft²
    Bedrooms Unit 2: 2
    Bathrooms Unit 2: 1.00
    Range/Oven Unit 2: Y
    Refrigerator Unit 2: Y
    Dishwasher Unit 2: Y
    Washer/Dryer Unit 2: N
    Fireplaces Unit 2: 0
    Rent Unit 2: $1,785

    Unit 3

    Sq Ft Unit 3: 0 ft²
    Bedrooms Unit 3: 0
    Bathrooms Unit 3: 0.00
    Fireplaces Unit 3: 0
    Rent Unit 3: None

    Unit 4

    Sq Ft Unit 4: 0 ft²
    Bedrooms Unit 4: 0
    Bathrooms Unit 4: 0.00
    Fireplaces Unit 4: 0
    Rent Unit 4: None

    Unit 5

    Sq Ft Unit 5: 0 ft²
    Bedrooms Unit 5: 0
    Bathrooms Unit 5: 0.00
    Fireplaces Unit 5: 0
    Rent Unit 5: None

    Unit 6

    Sq Ft Unit 6: 0 ft²
    Bedrooms Unit 6: 0
    Bathrooms Unit 6: 0.00
    Fireplaces Unit 6: 0
    Rent Unit 6: None

    Mortgage Calculator

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    Payment:  /mo

    Listing provided by NWMLS, courtesy of Pacific Crest