4345 32nd Avenue W, Seattle, WA 98199

$2,900,000
15,240
SqFt

Listing courtesy of Synergy Mrgrs & Acq. LLC. Selling Office: Synergy Mrgrs & Acq. LLC.

Sold Price
$2,900,000
List Price
$5,075,000
Status
SOLD
MLS#
1634242
Closing Date
May 05, 2021
Days on Market
182
Style
56 - 10+ Units
Building Condition
Good
Finished SqFt
15,240
Area Total SqFt
15240
Annual Tax Ammount
42408
Lot Size (sq ft)
12,553
Sewer
Sewer Connected

Property Description

This is a rare opportunity to acquire an 18 unit turnkey property. The building is located just minutes from the Metropolitan Magnolia Market and is an easy stroll to Discovery Park & Locks. This property is poised for substantial future appreciation. Significant upside in rents, storage, parking along with utility reimbursements.

Additional Information

List Date
2020-11-04 00:00:00
Community
Magnolia
Net Operating Income
$193,029
Gross Adjusted Income
$289,814
Gross Scheduled Income
$289,814
Total Monthly Income
$23,925
Insurance Expenses
$9,101
Gross Rent Multiplier
17
Total Expenses
$88,090
Cap Rate
3.68
Vacancy Rate
3
Total Number of Units
18
Unit Name
4345
Potential Terms
Cash Out, Conventional, FHA, VA Loan
Year Built
1976
Roof
Cedar Shake, Composition, Flat
Site Features
High Speed Internet
Other Expenses
25789
Energy Source
Electric
School District
Seattle
Total Monthly Income
$23,925
Gross Scheduled Income
$289,814
Vacancy Rate
3
Gross Adjusted Income
$289,814
Tax Year
2019
Insurance Expense
$9,101
Total Expenses
$88,090
Net Operating Income
$193,029
Gross Rent Multiplier
17
Cap Rate
3.68
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