815 S 219th Street, Des Moines, WA 98198
- $2,240,000
- 9,360
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Berkshire Hathaway HS NW.
- Sold Price
- $2,240,000
- List Price
- $2,200,000
- Status
- SOLD
- MLS#
- 2265765
- Closing Date
- Nov 06, 2024
- Days on Market
- 22
- Style
- 56 - 10+ Units
- Finished SqFt
- 9,360
- Area Total SqFt
- 9360
- Annual Tax Ammount
- 23377
- Lot Size (sq ft)
- 15,752
- Sewer
- Sewer Connected
Property Description
Built in 1967, the Sunwest Apartments is a very well-maintained property that has undergone numerous updates including all new double pane vinyl windows, sliding glass doors, copper plumbing, and interior unit upgrades. The Sunwest Apartments consists of ten large two bedroom one bath units that are clean, spacious, and provide abundant natural light with water views from the top floor units. The property will operate at a 6.07% Cap Rate once the rent increases take effect on November 1st, 2024 with additional rental upside. The location is great for commuters heading to Seattle or the Eastside as the property is located only a half mile from Highway 509 and is only a 2-mile drive to the Angle Lake Light Rail Station.
/u.realgeeks.media/homes77/logo-full.png){kind=logo}
Additional Information
- List Date
- 2024-10-15 00:00:00
- Community
- Des Moines
- Net Operating Income
- $133,533
- Gross Adjusted Income
- $192,527
- Gross Scheduled Income
- $202,660
- Total Monthly Income
- $16,888
- Insurance Expenses
- $9,325
- Water/Sewer/Garbage Expenses
- $11,689
- Gross Rent Multiplier
- 10.86
- Total Expenses
- $58,994
- Cap Rate
- 6.07
- Vacancy Rate
- 5
- Total Number of Units
- 10
- Unit Name
- 815
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1967
- Roof
- Flat
- Other Expenses
- 14603
- Energy Source
- Electric
- School District
- Highline
- Total Monthly Income
- $16,888
- Gross Scheduled Income
- $202,660
- Vacancy Rate
- 5
- Gross Adjusted Income
- $192,527
- Tax Year
- 2024
- Insurance Expense
- $9,325
- W/S/G Expenses
- $11,689
- Total Expenses
- $58,994
- Net Operating Income
- $133,533
- Gross Rent Multiplier
- 10.86
- Cap Rate
- 6.07
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.