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
68
Days on Website
68
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
Additional Details
Building
Built in 1950, Built in 1950 (effective), 2 stories, Construction Materials: Brick, Wood
Cooling
None
Expenses
Electric: $4,851, Fuel: $1,151, Insurance: $9,086, Other Expense: $17,583
Exterior Features
Brick, Wood
Heating
Forced Air
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $165,038, Net Operating Income: $88,625
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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