3664 Ashworth Avenue N, Seattle, WA 98103
- $1,275,000
- 4,275
- SqFt
Listing courtesy of Windermere R E Mount Baker. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $1,275,000
- List Price
- $1,430,000
- Status
- SOLD
- MLS#
- 2179779
- Closing Date
- Apr 01, 2024
- Days on Market
- 8
- Style
- 55 - 5-9 Units
- Building Condition
- Average
- Finished SqFt
- 4,275
- Area Total SqFt
- 4275
- Annual Tax Ammount
- 15138
- Lot Size (sq ft)
- 5,100
- Sewer
- Sewer Connected
- Offer Review Date
- 2023-11-22
Property Description
Located in Wallingford, The Ashworth is a strong value-add opportunity. Current operations are profitable, and there is significant potential for increased income. Current rental rates are below market rates, and there is room for renovations. By adjusting rental rates and lowering operating expenses to align with the market, a new operator could likely boost income by approx 40%. Residents love the central location, with convenient access to downtown Seattle, South Lake Union, and the Eastside, while living in a peaceful residential setting that offers an array of local amenities. Outdoor recreational venues in the immediate vicinity incl Gasworks Park, the Woodland Park Zoo, The Woodland Park and Green Lake Trail.
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Additional Information
- List Date
- 2024-03-24 00:00:00
- Community
- Wallingford
- Net Operating Income
- $47,533
- Gross Adjusted Income
- $96,843
- Gross Scheduled Income
- $101,940
- Total Monthly Income
- $8,562
- Insurance Expenses
- $4,141
- Water/Sewer/Garbage Expenses
- $10,801
- Gross Rent Multiplier
- 14.03
- Total Expenses
- $49,310
- Cap Rate
- 3.32
- Vacancy Rate
- 5
- Total Number of Units
- 5
- Unit Name
- 3664
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1959
- Roof
- Flat
- Site Features
- Fenced-Partially, Patio, Shop
- Electric Expenses
- 250
- Other Expenses
- 18980
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $8,562
- Gross Scheduled Income
- $101,940
- Vacancy Rate
- 5
- Gross Adjusted Income
- $96,843
- Tax Year
- 2023
- Insurance Expense
- $4,141
- W/S/G Expenses
- $10,801
- Total Expenses
- $49,310
- Net Operating Income
- $47,533
- Gross Rent Multiplier
- 14.03
- Cap Rate
- 3.32
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.