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Listing provided by NWMLS, courtesy of Paragon Real Estate Advisors

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MLS# 1579396
Built 1901
0.172 acres
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    Description:   This site boasts a 7, 500SF lot zoned LR2(M) located within the Wallingford. Existing improvements include a 9-unit apartment building and a small single-family house. Multiple attractive investments approach. Most of the leases are MTM giving the opportunity to raise the current income immediately, or an investor may decide to pursue entirely redeveloping the property. Potential build 42 SEDU units(Buyer to Verify). Owner Financing available with 30% down, 4.5% interest only for a 2-5 year term.


    Approx. Sq Ft: 3,894 ft²
    Energy Source: Electric
    Heating and Cooling: Baseboard
    Floor Covering: Laminate Hardwood, Vinyl, Wall to Wall Carpet


    Sewer: Sewer Connected


    City: Seattle
    State: WA
    Zip Code: 98103
    Area: 705
    County: King
    School District: Seattle
    Latitude: 47.66003300
    Longitude: -122.34490000


    Year Built: 1901
    Roof: Flat
    Exterior: Wood, Wood Products
    Number of Units in Building: 10


    School District: Seattle


    Lot Sq Ft: 7,500 ft²
    Number of Stories in Building: 3


    Community Name: Wallingford


    Terms: Cash Out, Conventional

    Finance & Taxes

    Homeowner Dues (monthly): None
    Tax Expense: $11,507
    Insurance Expenses: 2500
    Electrical Expenses: 0
    Heating Expenses: 0
    Other Expenses: 13800
    Total Expenses: 44807
    Tax Year: 2017
    Gross Scheduled Income: 118800
    Vacancy Rate: 4
    Gross Adjusted Income: 114048
    Total Expenses: 44807
    Net Operating Costs: 69241
    Gross Rent Multiplier: 21
    Total Monthly Income: 9900

    Unit 1

    Sq Ft Unit 1: 0 ft²
    Bedrooms Unit 1: 0
    Bathrooms Unit 1: 0.00
    Fireplaces Unit 1: 0
    Rent Unit 1: None

    Unit 2

    Sq Ft Unit 2: 0 ft²
    Bedrooms Unit 2: 0
    Bathrooms Unit 2: 0.00
    Fireplaces Unit 2: 0
    Rent Unit 2: None

    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

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    Listing provided by NWMLS, courtesy of Paragon Real Estate Advisors