REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by:Skyline Properties, Inc. • Amir Rashidi
$1,379,000
Est. payment /mo
5 Beds
4 Baths
2,910 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,910 sqft
Price per Sqft $473
Subdivision Georgetown
MLS Listing ID 2542292
Style 54 - 4-Plex
Bedrooms 5
Year Built 1908
Annual Tax Amount $9,024
Lot Size 3,048 Sqft
Property Sub-Type Multi Family
Property Description
Turnkey Georgetown Multifamily Investment with Immediate Income & Upside Excellent opportunity to acquire a stabilized, income-producing four-unit property in the heart of Georgetown. The property consists of one non-conforming studio, two 1-bedroom/1-bathroom units, and one 2-bedroom/1-bathroom unit. All units were renovated approximately five years ago with updated kitchens, hard-surface flooring, modern fixtures, and refreshed finishes, minimizing near-term capital improvement needs. The property has been carefully maintained and provides investors with immediate cash flow plus additional value-add potential. Investment Highlights: * Purchase Price: $1,379,000 * Gross Annual Income: $90,000 * Annual Expenses: $21,204 * NOI: $68,796 * Cap Rate: 5%. Increase the rent and change this to 7.5% * Renovated and well-maintained units * Upside potential through future rent increases * Additional potential income from storage * Seller concession available through CMG Home Loans, subject to lender terms and buyer qualification, Diane Haag, 425-444-8484. With a nearly 5% cap rate, renovated units, and identifiable opportunities to increase revenue, this property offers investors an attractive combination of current cash flow, limited near-term capital needs, and long-term appreciation potential in Seattle's Georgetown neighborhood.
Location
State WA
County King
Area 385 - Sodo/Beacon Hill
Interior
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Built-Up
Building
Lot Description Paved
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Read Less Info
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION