2219 Minor Avenue E, Seattle, WA 98102
- $1,700,000
- 4,555
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Heaton Dainard, LLC.
- Sold Price
- $1,700,000
- List Price
- $2,300,000
- Status
- SOLD
- MLS#
- 2193534
- Closing Date
- Mar 08, 2024
- Days on Market
- 20
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,555
- Area Total SqFt
- 4555
- Annual Tax Ammount
- 17781
- Lot Size (sq ft)
- 5,600
- Sewer
- Sewer Connected
Property Description
See the possibilities - value-add repositioning or redevelopment. Eastlake 6-unit apt sits on a 5,400SF lot zoned LR2 (M) with access to the lot from Minor Ave on the front along with Red Ave E to the rear. The building currently has several vacant units, allowing investors to promptly enhance its value through additional renovations, maximizing returns on investment. The building is comprised of four well laid out 1-bedroom/1-bathroom units, along with two large 2-bedroom/2-bathroom units. Encompassing the entirety of the top floor is the penthouse unit featuring hard surfaced flooring, updated cabinetry, in unit washer and dryer, and spectacular views of lake union and downtown Seattle.
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Additional Information
- List Date
- 2024-02-17 00:00:00
- Community
- Eastlake
- Net Operating Income
- $110,408
- Gross Adjusted Income
- $161,709
- Gross Scheduled Income
- $170,220
- Total Monthly Income
- $14,185
- Insurance Expenses
- $4,800
- Water/Sewer/Garbage Expenses
- $7,800
- Gross Rent Multiplier
- 13.5
- Total Expenses
- $51,301
- Cap Rate
- 4.8
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 2219
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1968
- Roof
- Flat
- Other Expenses
- 20920
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $14,185
- Gross Scheduled Income
- $170,220
- Vacancy Rate
- 5
- Gross Adjusted Income
- $161,709
- Tax Year
- 2023
- Insurance Expense
- $4,800
- W/S/G Expenses
- $7,800
- Total Expenses
- $51,301
- Net Operating Income
- $110,408
- Gross Rent Multiplier
- 13.5
- Cap Rate
- 4.8
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.