3238 15th Avenue W, Seattle, WA 98119
- $1,650,000
- 4,410
- SqFt
Listing courtesy of Lee & Associates Commercial RE.
- List Price
- $1,650,000
- Status
- PENDING
- MLS#
- 2250173
- Days on Market
- 109
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,410
- Area Total SqFt
- 4410
- Annual Tax Ammount
- 17092
- Lot Size (sq ft)
- 5,650
- Sewer
- Sewer Connected
- Offer Review Date
- 2024-06-24
Property Description
DravusApartments, a six-unit apartment building in West Queen Anne. Centrally positioned between Ballard, Fremont, South Lake Union and Downtown Seattle. The property features an attractive unit mix consisting of two 1-bedroom, four 2-bedrooms, and featuring a spacious average of 735sf. The building also boasts personal deck space, and an abundance of parking with 11 total spots both above and below the building. By updating the units and modernizing the systems and amenities, investors are poised to realize a near 39% potential rental upside. DravusApartments makes an excellent investment for investors who are looking to secure a prime location and maximize their returns through a strategic value-add play.
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Additional Information
- List Date
- 2024-06-27 12:49:07
- Community
- Queen Anne
- Net Operating Income
- $69,903
- Gross Adjusted Income
- $119,928
- Gross Scheduled Income
- $126,240
- Total Monthly Income
- $10,620
- Insurance Expenses
- $8,588
- Water/Sewer/Garbage Expenses
- $8,400
- Gross Rent Multiplier
- 13.1
- Total Expenses
- $51,220
- Cap Rate
- 4.24
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 3238
- Potential Terms
- Conventional
- Year Built
- 1967
- Roof
- See Remarks
- Site Features
- Fenced-Partially
- Other Expenses
- 17140
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Seattle Public Sch
- Middle School
- Mc Clure Mid
- High School
- Lincoln High
- Total Monthly Income
- $10,620
- Gross Scheduled Income
- $126,240
- Vacancy Rate
- 5
- Gross Adjusted Income
- $119,928
- Tax Year
- 2024
- Insurance Expense
- $8,588
- W/S/G Expenses
- $8,400
- Total Expenses
- $51,220
- Net Operating Income
- $69,903
- Gross Rent Multiplier
- 13.1
- Cap Rate
- 4.24
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.