17416 97th Avenue SW, Vashon, WA 98070
- $1,295,000
- 4,160
- SqFt
Listing Broker: COMPASS; Connie Sorensen; 206-819-7669; connie.sorensen@compass.com
- List Price
- $1,295,000
- Status
- ACTIVE
- MLS#
- 2583315
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Building Condition
- Good
- Finished SqFt
- 4,160
- Area Total SqFt
- 4160
- Annual Tax Ammount
- 12001
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 32,678
- Sewer
- Sewer Connected
Property Description
Rare Vashon investment and development opportunity! This established 5-unit multifamily property offers immediate income with future upside. The versatile mix includes a studio, two 2BR/1BA and two 3BR/1BA apartments with a history of strong occupancy. Current rents have intentionally been maintained below estimated fair-market levels, offering potential for increased rental income over time. Most units include a private washer & dryer and four units include fireplaces. The building has a newly installed roof, a significant infrastructure upgrade. The .75-acre R12-zoned parcel includes 6 water shares—an exceptional asset for future possibilities. Even more compelling, two contiguous R12SO-zoned parcels are also available, together offering 6 additional water shares. Acquisition of all three properties creates a rare assemblage opportunity with 12 total water shares, existing multifamily income and significant potential for a larger development vision. Explore the possibilities while benefiting from income already in place. Buyer to verify zoning, water availability, development potential and all intended uses. Please respect tenant privacy; no interior access without confirmed appointment.
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Additional Information
- List Date
- 2026-09-23 17:28:11
- Community
- In Town
- Net Operating Income
- $74,828
- Gross Adjusted Income
- $76,463
- Gross Scheduled Income
- $98,100
- Total Monthly Income
- $8,175
- Insurance Expenses
- $2,000
- Water/Sewer/Garbage Expenses
- $11,900
- Gross Rent Multiplier
- 13
- Total Expenses
- $26,101
- Cap Rate
- 5.78
- Vacancy Rate
- 1
- Total Number of Units
- 5
- Unit Name
- 17416
- Potential Terms
- Cash, Conventional
- Year Built
- 1957
- Roof
- Composition
- Site Features
- Cable TV, Fenced-Partially, Gas Available, High Speed Internet, Outbuildings
- Electric Expenses
- 100
- Energy Source
- Electric, Natural Gas
- School District
- Vashon Island
- Elementary School
- Chautauqua Elem
- Middle School
- Mcmurray Mid
- High School
- Vashon Isl High
- Total Monthly Income
- $8,175
- Gross Scheduled Income
- $98,100
- Vacancy Rate
- 1
- Gross Adjusted Income
- $76,463
- Tax Year
- 2025
- Insurance Expense
- $2,000
- W/S/G Expenses
- $11,900
- Total Expenses
- $26,101
- Net Operating Income
- $74,828
- Gross Rent Multiplier
- 13
- Cap Rate
- 5.78
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.