936 N 198th Street, Shoreline, WA 98133
- $2,700,000
- 8,400
- SqFt
Listing courtesy of Westlake Associates, Inc..
- List Price
- $2,700,000
- Status
- ACTIVE
- MLS#
- 2573588
- Days on Market
- 0
- Style
- 56 - 10+ Units
- Finished SqFt
- 8,400
- Area Total SqFt
- 8400
- Annual Tax Ammount
- 29755
- Lot Size (sq ft)
- 17,761
- Sewer
- Sewer Connected
Property Description
The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents and get this building to a 7.18% CAP Rate. Excellent value-add opportunity. All 12 units are Two-Bed/One-Bath units averaging about 700 square feet each. Ample open parking available on site that has been re-paved and re-striped. Building has updated electrical panels and a newer TPO roof. Coin-operated common laundry available. Conveniently located in Shoreline, property has easy access to Rapid Ride Transit, Highway 99, Interstate-5, and the 185th Street Light Rail Station.
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Additional Information
- List Date
- 2026-08-24 23:43:13
- Community
- Shoreline
- Net Operating Income
- $166,876
- Gross Adjusted Income
- $265,096
- Gross Scheduled Income
- $279,048
- Total Monthly Income
- $23,254
- Insurance Expenses
- $13,200
- Water/Sewer/Garbage Expenses
- $17,510
- Gross Rent Multiplier
- 9.68
- Total Expenses
- $98,220
- Cap Rate
- 6.18
- Vacancy Rate
- 5
- Total Number of Units
- 12
- Unit Name
- 936
- Potential Terms
- Cash, Conventional
- Year Built
- 1962
- Roof
- Flat, See Remarks
- Other Expenses
- 37755
- Energy Source
- Electric
- School District
- Shoreline
- Total Monthly Income
- $23,254
- Gross Scheduled Income
- $279,048
- Vacancy Rate
- 5
- Gross Adjusted Income
- $265,096
- Tax Year
- 2026
- Insurance Expense
- $13,200
- W/S/G Expenses
- $17,510
- Total Expenses
- $98,220
- Net Operating Income
- $166,876
- Gross Rent Multiplier
- 9.68
- Cap Rate
- 6.18
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.