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Listing provided by NWMLS, courtesy of Paragon Real Estate Advisors

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Active
$1,650,000
/mo   Edit
MLS# 1580101
Multi-Family/Duplex
Built 1918
0.095 acres
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    Description:   Classic six-unit property located in Seattle?s fantastic University District neighborhood. Sitting proudly on the corner of 15th Ave and NE 55th St, the charming 1918 built building features 5 large 2BDs and 1 studio unit. Take advantage of the strong Seattle rental market by increasing rents to market levels, renovate and update the property to create additional value or develop the 4, 120 SF LR3 corner lot. Options include apartments, SEDU?s, townhomes and more.

    Interior

    Approx. Sq Ft: 5,406 ft²
    Energy Source: Electric
    Heating and Cooling: Baseboard
    Floor Covering: Laminate Hardwood, Vinyl

    Utilities

    Sewer: Sewer Connected

    Location

    City: Seattle
    State: WA
    Zip Code: 98105
    Area: 710
    County: King
    School District: Seattle
    Latitude: 47.66837400
    Longitude: -122.31221600

    Building

    Year Built: 1918
    Roof: Composition
    Exterior: Wood, Wood Products
    Number of Units in Building: 6

    School

    School District: Seattle

    Lot

    Lot Sq Ft: 4,120 ft²
    Number of Stories in Building: 2

    Site

    Community Name: University District

    Rent

    Terms: Cash Out, Conventional

    Finance & Taxes

    Homeowner Dues (monthly): None
    Tax Expense: $15,318
    Insurance Expenses: 1700
    Electrical Expenses: 0
    Heating Expenses: 0
    Other Expenses: 7800
    Total Expenses: 31318
    Tax Year: 2020
    Gross Scheduled Income: 73740
    Vacancy Rate: 3
    Gross Adjusted Income: 74449
    Total Expenses: 31318
    Net Operating Costs: 43131
    Gross Rent Multiplier: 22
    Total Monthly Income: 6145

    Unit 1

    Description Unit 1: A
    Sq Ft Unit 1: 960 ft²
    Bedrooms Unit 1: 2
    Bathrooms Unit 1: 1.00
    Range/Oven Unit 1: Y
    Refrigerator Unit 1: Y
    Dishwasher Unit 1: N
    Washer/Dryer Unit 1: N
    Fireplaces Unit 1: 0
    Rent Unit 1: $1,200

    Unit 2

    Description Unit 2: B
    Sq Ft Unit 2: 960 ft²
    Bedrooms Unit 2: 2
    Bathrooms Unit 2: 1.00
    Range/Oven Unit 2: Y
    Refrigerator Unit 2: Y
    Dishwasher Unit 2: N
    Washer/Dryer Unit 2: N
    Fireplaces Unit 2: 0
    Rent Unit 2: $1,200

    Unit 3

    Description Unit 3: C
    Sq Ft Unit 3: 960 ft²
    Bedrooms Unit 3: 2
    Bathrooms Unit 3: 1.00
    Range/Oven Unit 3: Y
    Refrigerator Unit 3: Y
    Dishwasher Unit 3: N
    Washer/Dryer Unit 3: N
    Fireplaces Unit 3: 0
    Rent Unit 3: $1,200

    Unit 4

    Description Unit 4: D
    Sq Ft Unit 4: 960 ft²
    Bedrooms Unit 4: 2
    Bathrooms Unit 4: 1.00
    Range/Oven Unit 4: Y
    Refrigerator Unit 4: Y
    Dishwasher Unit 4: N
    Washer/Dryer Unit 4: N
    Fireplaces Unit 4: 0
    Rent Unit 4: $1,200

    Unit 5

    Description Unit 5: E
    Sq Ft Unit 5: 550 ft²
    Bedrooms Unit 5: 0
    Bathrooms Unit 5: 1.00
    Range/Oven Unit 5: Y
    Refrigerator Unit 5: Y
    Dishwasher Unit 5: N
    Washer/Dryer Unit 5: N
    Fireplaces Unit 5: 0
    Rent Unit 5: $375

    Unit 6

    Description Unit 6: F
    Sq Ft Unit 6: 900 ft²
    Bedrooms Unit 6: 2
    Bathrooms Unit 6: 1.00
    Range/Oven Unit 6: Y
    Refrigerator Unit 6: Y
    Dishwasher Unit 6: N
    Washer/Dryer Unit 6: N
    Fireplaces Unit 6: 0
    Rent Unit 6: $925

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    Listing provided by NWMLS, courtesy of Paragon Real Estate Advisors