1806 16th Avenue, Seattle, WA 98122
- $1,500,000
- 2,600
- SqFt
Listing courtesy of Lee & Associates Commercial RE. Selling Office: Lee & Associates Commercial RE.
- Sold Price
- $1,500,000
- List Price
- $1,498,000
- Status
- SOLD
- MLS#
- 2205242
- Closing Date
- May 15, 2024
- Days on Market
- 46
- Style
- 55 - 5-9 Units
- Finished SqFt
- 2,600
- Area Total SqFt
- 2600
- Annual Tax Ammount
- 15087
- Lot Size (sq ft)
- 4,980
- Sewer
- Sewer Connected
Property Description
Capitol Hill 5 unit west facing towards Seven Hills Park across the street, features good natural light exposure & views from the top floor. Units have received updates on turnover with most units receiving laminate floors & appliances. The building received Milgard insulated window replacements in 2017. 4 Off-street parking spots. The building is steps from the charming cafes, restaurants & shops of the 15th Ave retail corridor. Current rents are well below market & 2 units will be delivered vacant allowing investors to reset rents or commence updates upon closing or convert to SFR. A desirable location that provides a high quality of living experience, 1806 16th Ave offers significant operational upside within the Seattle core.
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Additional Information
- List Date
- 2024-03-30 00:00:00
- Community
- Capitol Hill
- Net Operating Income
- $59,580
- Gross Adjusted Income
- $95,115
- Gross Scheduled Income
- $99,570
- Total Monthly Income
- $6,290
- Insurance Expenses
- $2,942
- Water/Sewer/Garbage Expenses
- $5,500
- Gross Rent Multiplier
- 20.7
- Total Expenses
- $35,535
- Cap Rate
- 3.98
- Vacancy Rate
- 5
- Total Number of Units
- 5
- Unit Name
- 1806
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1906
- View
- City
- Roof
- Composition
- Other Expenses
- 12006
- Energy Source
- Electric, Natural Gas
- School District
- Seattle
- Total Monthly Income
- $6,290
- Gross Scheduled Income
- $99,570
- Vacancy Rate
- 5
- Gross Adjusted Income
- $95,115
- Tax Year
- 2024
- Insurance Expense
- $2,942
- W/S/G Expenses
- $5,500
- Total Expenses
- $35,535
- Net Operating Income
- $59,580
- Gross Rent Multiplier
- 20.7
- Cap Rate
- 3.98
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.