2 SW 119th Street, Burien, WA 98146
- $1,115,000
- 5,224
- SqFt
Listing courtesy of Home Realty. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $1,115,000
- List Price
- $1,100,000
- Status
- SOLD
- MLS#
- 2376486
- Closing Date
- Jul 31, 2025
- Days on Market
- 2
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,224
- Area Total SqFt
- 5224
- Annual Tax Ammount
- 15929
- Lot Size (sq ft)
- 8,583
- Sewer
- Sewer Connected
Property Description
8 unit loft style apartments. Great location in upzoned area of North Burien. New circuit breakers just installed in all 8 units. Corner lot with many possibilities. Sellers are participating in an IRS 1031 Tax Exchange and reserves the right to extend closing up to 30 days. A large portion of the city has been rezoned to new zoning districts that went into effect on the 1st of this year. This property is now zoned MU-2 (Mixed-Use High). Apartments are still an allowed use in this district. Please see BMC 19.15.020 for more information on Mixed-Use zoning regulations and BMC 19.47 for design standards.
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Additional Information
- List Date
- 2025-07-29 00:00:00
- Community
- Burien
- Net Operating Income
- $55,575
- Gross Adjusted Income
- $104,883
- Gross Scheduled Income
- $118,083
- Total Monthly Income
- $7,898
- Insurance Expenses
- $3,995
- Water/Sewer/Garbage Expenses
- $13,987
- Gross Rent Multiplier
- 9.31
- Total Expenses
- $34,706
- Cap Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 2
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1968
- View
- Territorial
- Roof
- Composition
- Site Features
- Patio
- Electric Expenses
- 492
- Other Expenses
- 303
- Energy Source
- Electric
- School District
- Highline
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $7,898
- Gross Scheduled Income
- $118,083
- Gross Adjusted Income
- $104,883
- Tax Year
- 2024
- Insurance Expense
- $3,995
- W/S/G Expenses
- $13,987
- Total Expenses
- $34,706
- Net Operating Income
- $55,575
- Gross Rent Multiplier
- 9.31
- Cap Rate
- 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.