4401 Aurora Avenue N, Seattle, WA 98103

$2,175,000

Listing courtesy of Paragon Real Estate Advisors. Selling Office: Sea to Sky Realty.

Sold Price
$2,175,000
List Price
$2,350,000
Status
SOLD
MLS#
1376170
Closing Date
May 31, 2019
Days on Market
169
Annual Tax Ammount
16367

Property Description

The property offers an investor or developer the opportunity to own a 13,000+ square foot rectangular lot that is ripe for development or hold for future development. The property currently operates as the Park Plaza Motel. The motel currently nets over $120,000 per year with a full time manager on site. The property is located on the southern part of Aurora Avenue. The lot is a corner parcel zoned LR3-RC and C1-40’ with views towards South Lake Union and downtown Seattle.

Additional Information

Community
Fremont
Style
60 - Comm Bldg Und 10K
Year Built
1956
# of Assigned Spaces
15
Roof
Composition
Tax Year
2018
Potential Terms
Cash Out
Driving Directions
From I5 take the 80th ST Exit. Sharp right on NE 80th. Left on Aurora. Property is on the right.
Other Expenses
45282
Net Operating Income
$120,872
Gross Adjusted Income
$201,838
Gross Scheduled Income
$208,080
Water/Sewer/Garbage Expenses
$16,367
Cap Rate
5.3
Vacancy Rate
3
Total Expenses
$80,966
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