Exceptional 13-unit investment and redevelopment opportunity on a 13,440 SF lot in prime and highly connected North Seattle location. The property includes two buildings (3-unit building and a 10-unit building) with a desirable mix of studio, one- and two-bedroom residences, offering multiple investment strategies. Continue operating as an income-producing apartment… Read More community, increase returns through rent optimization and strategic improvements, or hold as a long-term development site. Current gross scheduled income is approximately $14,288 per month, with additional upside as several rents remain below market. Most units have been updated. NC3-55 zoning may offer potential for a future multifamily development of approximately 60–80 units; buyer to verify all development feasibility. Conveniently located near Northgate Light Rail, transit, shopping, dining, major employers and daily amenities, with an 87 Walk Score. A compelling combination of current income, value-add potential and long-term redevelopment opportunity. Read Less
Listing courtesy of Real Property Associates
Listing Snapshot
Cumulative Days On Market
47
Days on Website
47
Last Updated
Property Type
Multi Family
Square Ft.
5,312
Lot Size
0.31 Acres
Year Built
1950
Property Tax
$19,956
MLS Number
2554023
30 Days Snapshot Of 98133
$655k
-21%
(avg) sold price
39
+5%
homes sold
63
+18%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 5312, Building Area Units: Square Feet, Calculated Square Footage: 5312, Construction Materials: Brick, Wood, Elevation Units: Feet, Leasable Area: 5312, Living Area: 0, Number Of Units Total: 13, Stories Total: 2, Structure Type: Multi Family, Units In Building Total: 13, Year Built: 1950, Year Built Effective: 1950
Sewer: Sewer Connected, Sewer Company: Seattle Public Utilities
Utilities
Electric Expense: 4851, Fuel Expense: 1151, Power Company: Seattle City Light, Power Production Type: Electric, Natural Gas, Water Company: Seattle Public Utilities, Water Source: Public
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. Listings last updated on ,
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