1111 SW 148th Street, Burien, WA 98166
- $1,000,000
- 3,564
- SqFt
Listing courtesy of Highmark Partners. Selling Office: Berkshire Hathaway HS NW.
- Sold Price
- $1,000,000
- List Price
- $975,000
- Status
- SOLD
- MLS#
- 2199625
- Closing Date
- Mar 25, 2024
- Days on Market
- 5
- Style
- 54 - 4-Plex
- Building Condition
- Fair
- Finished SqFt
- 3,564
- Area Total SqFt
- 3564
- Annual Tax Ammount
- 9873
- Lot Size (sq ft)
- 7,620
- Sewer
- Sewer Connected
Property Description
Value-add investment opportunity in the heart of Lake Burien. This value-add fourplex offers spacious living with large 2-bedroom/1-bathroom units, perfect and one generously sized 1-bedroom/1-bathroom unit. With the ability to raise rents 40-50% in a high demand market stabilizing at a 7.2% market cap rate. Two units meticulously upgraded to modern standards with the opportunity to renovate two other 2b/1b top floor units with vaulted ceilings. The exterior needs cosmetic upgrades. Situated just three blocks away from the vibrant Olde Town Burien, residents enjoy easy access to an array of amenities including restaurants, cafes, and stores. Easy access to major freeways downtown Seattle and Bellevue.
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Additional Information
- List Date
- 2024-03-20 00:00:00
- Community
- Lake Burien
- Net Operating Income
- $39,426
- Gross Adjusted Income
- $62,586
- Gross Scheduled Income
- $65,800
- Total Monthly Income
- $5,490
- Insurance Expenses
- $1,614
- Water/Sewer/Garbage Expenses
- $6,381
- Gross Rent Multiplier
- 14.8
- Total Expenses
- $23,160
- Cap Rate
- 4.04
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 1111
- Potential Terms
- Conventional
- Year Built
- 1973
- Roof
- Composition
- Other Expenses
- 5292
- Energy Source
- Electric
- School District
- Highline
- Elementary School
- Seahurst Elem
- Middle School
- Sylvester Mid
- High School
- Highline High
- Total Monthly Income
- $5,490
- Gross Scheduled Income
- $65,800
- Vacancy Rate
- 5
- Gross Adjusted Income
- $62,586
- Tax Year
- 2023
- Insurance Expense
- $1,614
- W/S/G Expenses
- $6,381
- Total Expenses
- $23,160
- Net Operating Income
- $39,426
- Gross Rent Multiplier
- 14.8
- Cap Rate
- 4.04
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.