22805 30th Avenue S, Des Moines, WA 98198
- $1,685,000
- 7,300
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Skyline Properties, Inc..
- Sold Price
- $1,685,000
- List Price
- $1,725,000
- Status
- SOLD
- MLS#
- 2372108
- Closing Date
- Jun 09, 2025
- Days on Market
- 11
- Style
- 56 - 10+ Units
- Finished SqFt
- 7,300
- Area Total SqFt
- 7300
- Annual Tax Ammount
- 21617
- Lot Size (sq ft)
- 16,810
- Sewer
- Sewer Connected
Property Description
This 11-unit building presents the opportunity to acquire an in-place 6.5% current cap rate with operational up-side to reach a 6.8% proforma cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,155,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with two classic and one renovated 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms.
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Additional Information
- List Date
- 2025-05-29 00:00:00
- Community
- Des Moines
- Net Operating Income
- $112,401
- Gross Adjusted Income
- $184,714
- Gross Scheduled Income
- $194,436
- Total Monthly Income
- $16,203
- Insurance Expenses
- $11,000
- Water/Sewer/Garbage Expenses
- $12,737
- Gross Rent Multiplier
- 8.87
- Total Expenses
- $72,313
- Cap Rate
- 6.52
- Vacancy Rate
- 5
- Total Number of Units
- 11
- Unit Name
- 22805
- Potential Terms
- Assumable, Cash Out, Conventional
- Year Built
- 1968
- Roof
- Flat
- Other Expenses
- 26959
- Energy Source
- Electric
- School District
- Highline
- Total Monthly Income
- $16,203
- Gross Scheduled Income
- $194,436
- Vacancy Rate
- 5
- Gross Adjusted Income
- $184,714
- Tax Year
- 2025
- Insurance Expense
- $11,000
- W/S/G Expenses
- $12,737
- Total Expenses
- $72,313
- Net Operating Income
- $112,401
- Gross Rent Multiplier
- 8.87
- Cap Rate
- 6.52
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.