1301 Bellevue Way SE, Bellevue, WA 98004
- $2,765,000
- 5,782
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $2,765,000
- List Price
- $2,550,000
- Status
- SOLD
- MLS#
- 2238299
- Closing Date
- Jun 21, 2024
- Days on Market
- 12
- Style
- 54 - 4-Plex
- Finished SqFt
- 5,782
- Area Total SqFt
- 5782
- Annual Tax Ammount
- 17289
- Lot Size (sq ft)
- 20,897
- Sewer
- Sewer Connected
- Offer Review Date
- 2024-05-22
Property Description
This rare opportunity sits on a large 20,897 square foot lot zoned R-10 on a quiet, residential street in one of the most desired cities in the Puget Sound area. The Bellevue Fourplex consists of two large three bedroom two and a half bath townhouse units and two large three bedroom two bath townhouse units ranging in size from 1,339 to 1,552 square feet. One of the four units has just undergone a complete renovation that highlights the upside potential for the other three units. These two-story units have private patios, fireplaces, and in-unit washer and dryer. The zoning presents the opportunity to develop four homes on the property with comparable homes trading around $2.3M each (buyer to verify).
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Additional Information
- List Date
- 2024-06-09 00:00:00
- Community
- Bellevue
- Net Operating Income
- $54,578
- Gross Adjusted Income
- $103,653
- Gross Scheduled Income
- $104,700
- Total Monthly Income
- $8,725
- Insurance Expenses
- $4,879
- Water/Sewer/Garbage Expenses
- $7,907
- Gross Rent Multiplier
- 19.3
- Total Expenses
- $39,075
- Cap Rate
- 2.5
- Vacancy Rate
- 1
- Total Number of Units
- 4
- Unit Name
- 1301
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1980
- Roof
- Built-Up
- Other Expenses
- 9000
- Energy Source
- Electric
- School District
- Bellevue
- Total Monthly Income
- $8,725
- Gross Scheduled Income
- $104,700
- Vacancy Rate
- 1
- Gross Adjusted Income
- $103,653
- Tax Year
- 2023
- Insurance Expense
- $4,879
- W/S/G Expenses
- $7,907
- Total Expenses
- $39,075
- Net Operating Income
- $54,578
- Gross Rent Multiplier
- 19.3
- Cap Rate
- 2.5
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.