5003 15th Avenue NE, Seattle, WA 98105

$5,500,000
16,848
SqFt

Listing courtesy of Lee & Associates Commercial RE.

List Price
$5,500,000
Status
ACTIVE
MLS#
2198631
Days on Market
20
Style
56 - 10+ Units
Finished SqFt
16,848
Area Total SqFt
16848
Annual Tax Ammount
52906
Lot Size (sq ft)
8,220
Sewer
Sewer Connected

Property Description

The Davison is timeless, well-maintained pride of ownership building in the heart of the Seattle’s University District neighborhood and walking distance to the University of Washington. It features spacious units averaging 670 sf per unit with a unit mix of 10 studios and 13 1-bedrooms (buyer to verify). Units feature elegant crown molding, oak hardwood floors and vintage penny tile. Most units feature newer kitchen cabinets and granite countertops as well as vanities. The building also features six secure garage spaces with access off the alley. Sitting on an 8,220 sf LR3 zoned corner lot, the Davison is a handsome opportunity to realize significant rental upside in one of Seattle’s most sought-after and well supported rental markets

Additional Information

List Date
2024-02-10 04:45:10
Community
University District
Net Operating Income
$235,085
Gross Adjusted Income
$379,338
Gross Scheduled Income
$399,060
Total Monthly Income
$46,229
Insurance Expenses
$8,962
Water/Sewer/Garbage Expenses
$30,068
Gross Rent Multiplier
13.9
Total Expenses
$144,253
Cap Rate
4.27
Vacancy Rate
5
Total Number of Units
23
Unit Name
5003
Potential Terms
Cash Out, Conventional
Year Built
1926
Roof
Flat
Other Expenses
52317
Energy Source
Electric, Natural Gas
School District
Seattle
Total Monthly Income
$46,229
Gross Scheduled Income
$399,060
Vacancy Rate
5
Gross Adjusted Income
$379,338
Tax Year
2023
Insurance Expense
$8,962
W/S/G Expenses
$30,068
Total Expenses
$144,253
Net Operating Income
$235,085
Gross Rent Multiplier
13.9
Cap Rate
4.27
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