7070 E Marginal Way S, Seattle, WA 98108
- $1,050,000
- 7,890
- SqFt
Listing courtesy of Keller Williams Rty Tacoma. Selling Office: Specialty Real Estate Group.
- Sold Price
- $1,050,000
- List Price
- $1,200,000
- Status
- SOLD
- MLS#
- 2362738
- Closing Date
- Aug 26, 2025
- Days on Market
- 22
- Style
- 56 - 10+ Units
- Building Condition
- Fixer
- Finished SqFt
- 7,890
- Area Total SqFt
- 7890
- Annual Tax Ammount
- 35022
- Lot Size (sq ft)
- 10,443
- Sewer
- Sewer Connected
Property Description
Convert this motel into a 16 unit apartment complex! Estimated renovation cost at $1,300,000 for an estimated $3,000,000 finished value. Tons of sweat equity to be had as an investment. All numbers provided on rents/financials are an estimate proforma based on a newly renovated complex. There is currently no income on the building. Unit sizes would range from 346 sq ft to 433 sq feet. 4 units in the basement, 6 units on main floor, and 6 units upstairs. Tons of parking available on site. Tax Assessed Value at $1,945,500! Est. value of $3.1M after renovations into a multi-family dwelling are complete.
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Additional Information
- List Date
- 2025-08-04 00:00:00
- Community
- Georgetown
- Net Operating Income
- $188,728
- Gross Adjusted Income
- $121,850
- Gross Scheduled Income
- $310,578
- Total Monthly Income
- $310,578
- Insurance Expenses
- $6,669
- Water/Sewer/Garbage Expenses
- $10,060
- Gross Rent Multiplier
- 3.9
- Total Expenses
- $121,848
- Cap Rate
- 6
- Vacancy Rate
- 5
- Unit Name
- 7070
- Potential Terms
- Cash Out
- Year Built
- 1919
- Roof
- Torch Down
- Site Features
- Fenced-Partially
- Electric Expenses
- 10060
- Other Expenses
- 49976
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $310,578
- Gross Scheduled Income
- $310,578
- Vacancy Rate
- 5
- Gross Adjusted Income
- $121,850
- Tax Year
- 2024
- Insurance Expense
- $6,669
- W/S/G Expenses
- $10,060
- Total Expenses
- $121,848
- Net Operating Income
- $188,728
- Gross Rent Multiplier
- 3.9
- Cap Rate
- 6
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.