The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents… Read More and get this building to a 7.18% CAP Rate. Excellent value-add opportunity. All 12 units are Two-Bed/One-Bath units averaging about 700 square feet each. Ample open parking available on site that has been re-paved and re-striped. Building has updated electrical panels and a newer TPO roof. Coin-operated common laundry available. Conveniently located in Shoreline, property has easy access to Rapid Ride Transit, Highway 99, Interstate-5, and the 185th Street Light Rail Station. Read Less
Listing courtesy of Westlake Associates, Inc.
Listing Snapshot
Cumulative Days Active
57
Last Updated
Property Type
Multi Family
Square Ft.
8,400
Lot Size
0.41 Acres
Year Built
1962
Property Tax
$29,755
MLS Number
2573588
Additional Details
Building
Built in 1962, 2 stories, Construction Materials: Wood
Cooling
None
Expenses
Insurance: $12,864, Other Expense: $42,304
Exterior Features
Wood
Heating
Forced Air
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $279,048, Net Operating Income: $162,663
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 ,
Confirm your time
Fill in your details and we will contact you to confirm a time.