8320 5th Avenue NE, Seattle, WA 98115
- $2,480,000
Listing courtesy of Lee & Associates Commercial RE. Selling Office: Westlake Associates, Inc..
- Sold Price
- $2,480,000
- List Price
- $2,510,000
- Status
- SOLD
- MLS#
- 2133414
- Closing Date
- Sep 29, 2023
- Days on Market
- 36
- Style
- 55 - 5-9 Units
- Building Condition
- Good
- Annual Tax Ammount
- 26283
- Lot Size (sq ft)
- 6,120
- Sewer
- Sewer Connected
- Offer Review Date
- 2023-07-19
Property Description
1st time on market since it was built in 1991, the Chalet is a rare opportunity to own a quality mixed-use building in a popular residential area of Maple Leaf. 5 townhome units, 1 studio w private balcony, & 2 commercial spaces. Generously-sized at approx. 1200 sf, the TH units feat 2-beds/1.5-bh offering an abundance of natural light. The commercial office suites have to 2 private restrooms & addtl storage. Well-maintained w/ secure street-level garage parking. Common laundry w/ 2 sets of leased W/D. Fully rented w/ low historic vacancy. This is the perfect opportunity for an investor to realize significant rental upside & maximize rental income through a light value-add renovation & taking advantage of additional efficiencies.
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Additional Information
- List Date
- 2023-08-24 00:00:00
- Community
- Maple Leaf
- Net Operating Income
- $141,768
- Gross Adjusted Income
- $184,680
- Gross Scheduled Income
- $194,400
- Total Monthly Income
- $12,407
- Insurance Expenses
- $3,200
- Water/Sewer/Garbage Expenses
- $14,597
- Gross Rent Multiplier
- 12.9
- Total Expenses
- $66,072
- Cap Rate
- 5.65
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 8320
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1991
- View
- Territorial
- Roof
- Composition
- Site Features
- Deck, Gas Available, High Speed Internet
- Electric Expenses
- 10392
- Other Expenses
- 11600
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $12,407
- Gross Scheduled Income
- $194,400
- Vacancy Rate
- 5
- Gross Adjusted Income
- $184,680
- Tax Year
- 2023
- Insurance Expense
- $3,200
- W/S/G Expenses
- $14,597
- Total Expenses
- $66,072
- Net Operating Income
- $141,768
- Gross Rent Multiplier
- 12.9
- Cap Rate
- 5.65
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.