Ravenna Court is a fully occupied, 16-unit micro-apartment community located just over a mile away from the University of Washington. Built in 2016, the property consists of two eight-unit buildings that are connected by a shared outdoor patio space and firepit. Each building includes a shared kitchen and laundry facility,… Read More while individual units feature private bathrooms, in-unit sinks, mini refrigerators, and microwaves, with lofted studio layouts in select top-floor residences.Investors have the opportunity to capture immediate revenue growth through an estimated 8.2% mark-to-market opportunity. Additional upside may be available through the potential conversion of existing basement space into four additional units, subject to all required approvals. Investors may also evaluate repurposing one shared kitchen into storage or another community-oriented, revenue-enhancing use.Raveena Court offers an attainable, student-oriented housing option within an established and supply-constrained rental market supported by major healthcare and research employers, neighborhood retail, outdoor recreation, and light rail connectivity. Residents enjoy an abundance of nearby street parking, and a walkable location near Whole Foods, local trails, and the University of Washington. All in, Ravenna Court is a compelling multifamily investment with in-place cash flow, operational upside, and long-term demand durability. Read Less
Listing courtesy of Real Broker LLC
Listing Snapshot
Cumulative Days Active
0
Last Updated
Property Type
Multi Family
Square Ft.
3,314
Lot Size
0.08 Acres
Year Built
2016
Property Tax
$18,577
MLS Number
2602991
Additional Details
Building
Built in 2016, 3 stories, Construction Materials: Cement Plank, Wood
Cooling
None
Expenses
Electric: $9,042, Fuel: $9,042, Insurance: $10,246, Other Expense: $76,032
Exterior Features
Cement Planked, Wood Products
Floors
Laminate
Heating
Radiant
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $189,185, Net Operating Income: $77,787
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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