1249 5th Avenue N, Seattle, WA 98109
- $1,800,000
- 4,762
- SqFt
Listing courtesy of Sea to Sky Realty. Selling Office: ZNonMember-Office-MLS.
- Sold Price
- $1,800,000
- List Price
- $2,100,000
- Status
- SOLD
- MLS#
- 2056157
- Closing Date
- Jul 21, 2025
- Days on Market
- 375
- Style
- 55 - 5-9 Units
- Building Condition
- Fair
- Finished SqFt
- 4,762
- Area Total SqFt
- 4762
- Annual Tax Ammount
- 17206
- Lot Size (sq ft)
- 7,177
- Sewer
- Sewer Connected
Property Description
Rare Value-Add/Development opportunity in excellent east slope Queen Anne location, one block north of Highland Drive, with outstanding views of the city, Lake Union, and the Cascade Mountains. The property offers potential for interior/exterior upgrades that could lead to significant rental increases and improved returns. The zoning allows new development for about 20 500sf apartment units or 10 1,250sf townhouse units (Buyer to verify). Great flexibility to start the project promptly or hold with current leases.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- List Date
- 2024-07-11 00:00:00
- Community
- Queen Anne
- Net Operating Income
- $46,400
- Gross Adjusted Income
- $81,100
- Gross Scheduled Income
- $107,400
- Total Monthly Income
- $8,950
- Insurance Expenses
- $5,121
- Water/Sewer/Garbage Expenses
- $1,140
- Gross Rent Multiplier
- 25
- Total Expenses
- $34,600
- Cap Rate
- 2.3
- Vacancy Rate
- 18
- Total Number of Units
- 5
- Unit Name
- 1249
- Potential Terms
- Cash Out, Conventional, FHA
- Year Built
- 1912
- View
- City, Lake, Mountain(s)
- Roof
- Composition, Flat, Shake
- Electric Expenses
- 220
- Other Expenses
- 10913
- Energy Source
- Natural Gas
- School District
- Seattle
- Total Monthly Income
- $8,950
- Gross Scheduled Income
- $107,400
- Vacancy Rate
- 18
- Gross Adjusted Income
- $81,100
- Tax Year
- 2022
- Insurance Expense
- $5,121
- W/S/G Expenses
- $1,140
- Total Expenses
- $34,600
- Net Operating Income
- $46,400
- Gross Rent Multiplier
- 25
- Cap Rate
- 2.3
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.