850 Front Street S, Issaquah, WA 98027
- $2,600,000
- 9,280
- SqFt
Listing courtesy of Windermere Real Estate/East. Selling Office: Windermere Real Estate/East.
- Sold Price
- $2,600,000
- List Price
- $2,500,000
- Status
- SOLD
- MLS#
- 2030714
- Closing Date
- Oct 20, 2023
- Days on Market
- 97
- Style
- 56 - 10+ Units
- Building Condition
- Average
- Finished SqFt
- 9,280
- Area Total SqFt
- 9280
- Annual Tax Ammount
- 26239
- Lot Size (sq ft)
- 23,579
- Sewer
- Septic Tank
Property Description
The Colby Apartments 10-Unit Complex. Solid investment venture with current income & Value Added Opportunities. Great opportunity for investors who recognize current value w/under market rents; Ability to make improvements to existing units, creating additional income value. Large 2nd vacant lot creates more options for potential development. Located just south of downtown Issaquah. Fully rented units. High rental demand area for employees of nearby Costco Headquarters, Swedish Hospital, Microsoft etc. Forested areas & paths to downtown Issaquah create an ideal living space for access to work, town and the outdoors! Take advantage now and discover for yourself this remarkable opportunity!
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Additional Information
- List Date
- 2023-07-15 00:00:00
- Community
- Issaquah
- Net Operating Income
- $68,359
- Gross Adjusted Income
- $127,680
- Gross Scheduled Income
- $127,680
- Total Monthly Income
- $10,643
- Insurance Expenses
- $8,569
- Water/Sewer/Garbage Expenses
- $6,713
- Gross Rent Multiplier
- 19.58
- Total Expenses
- $59,321
- Cap Rate
- 2.73
- Total Number of Units
- 10
- Unit Name
- 850
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1962
- View
- Territorial
- Roof
- Torch Down
- Electric Expenses
- 1076
- Other Expenses
- 16724
- Energy Source
- Electric
- School District
- Issaquah
- Elementary School
- Clark Elem
- Middle School
- Issaquah Mid
- High School
- Issaquah High
- Total Monthly Income
- $10,643
- Gross Scheduled Income
- $127,680
- Gross Adjusted Income
- $127,680
- Tax Year
- 2022
- Insurance Expense
- $8,569
- W/S/G Expenses
- $6,713
- Total Expenses
- $59,321
- Net Operating Income
- $68,359
- Gross Rent Multiplier
- 19.58
- Cap Rate
- 2.73
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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.