14327 123 Avenue NE, Kirkland, WA 98034

$1,900,000

Listing courtesy of Kidder Mathews. Selling Office: Windermere Real Estate Midtown.

Sold Price
$1,900,000
List Price
$2,000,000
Status
SOLD
MLS#
1819168
Closing Date
Dec 20, 2021
Days on Market
90
Style
54 - 4-Plex
Building Condition
Good
Annual Tax Ammount
14031
Lot Size (sq ft)
10,664
Sewer
Sewer Connected

Property Description

Built in 1976, this extremely well positioned 4-plex is located in Kirkland’s white hot residential market. Comprised of a diversified unit mix holding spacious 2 and 3-bedroom homes, Kingsgate offers investors irreplaceable real estate in one of the nation’s strongest regions. This value-add 4-plex holds original interior finishes, private courtyards and many other home-like amenities that attract an ideal tenant base. New ownership can renovate interior common areas, kitchens, bathrooms and implement utility bill-back to add value.

Additional Information

List Date
2021-09-21 00:00:00
Community
Kirkland
Net Operating Income
$63,329
Gross Adjusted Income
$85,968
Gross Scheduled Income
$90,744
Total Monthly Income
$7,960
Insurance Expenses
$1,200
Water/Sewer/Garbage Expenses
$6,709
Gross Rent Multiplier
22
Total Expenses
$25,940
Cap Rate
3.17
Vacancy Rate
5
Total Number of Units
4
Unit Name
14327
Potential Terms
Conventional
Year Built
1976
Roof
Composition
Other Expenses
4000
Energy Source
Electric
School District
Bellevue
Total Monthly Income
$7,960
Gross Scheduled Income
$90,744
Vacancy Rate
5
Gross Adjusted Income
$85,968
Tax Year
2021
Insurance Expense
$1,200
W/S/G Expenses
$6,709
Total Expenses
$25,940
Net Operating Income
$63,329
Gross Rent Multiplier
22
Cap Rate
3.17
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