For more information on this listing, please contact...
Branding Photo
James Malsch
206-650-3406
Email
  • Listing #:
    • 2230692
  • Price:
    • $17,350,000
  • Status:
    • Active
  • Property Type:
    • Multi-Family
  • Type:
    • 10+ Units
  • # of Units:
    • 49
  • # of Acres:
    • 0.41
  • Year Built:
    • 1958
  • Comm/Assn:
    • Queen Anne
  • City:
    • Seattle
  • County:
    • King
  • State:
    • WA
  • Zip:
    • 98109
  • Right of 1st Refusal:
    • No
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Description
Amazing Opportunity To Acquire A 49 Unit, Fully Renovated Trophy Asset With Value-add Opportunities. Built In 1958 And Extensively Renovated In 2019, The Val Anne Offers Highly Sought After Classic Mid-century Modern Units. Great Unit Mix Of Studio, 1bd, 2bd And 2 Penthouse Units. 19 Units Have Views Of The City Skyline And Puget Sound, In Addition 9 Units Enjoy Private Balconies. The Two Penthouse Units Are In A League Of Their Own With Sweeping Views Of The City And Sound. This Is An Exceptional Opportunity For A New Investor To Acquire A Top-quality Investment That Will Continue To Appreciate Over Time. Currently The Rents Are Approximately 10% Below Market Rates.
Property Features
  • Cap Rate:
    • - 4.18
  • Exterior Features:
    • - Brick
    • - Stone
    • - Wood
    • - Wood Products
  • :
    • - Bay
    • - Canal
    • - Lake
  • Foundation Details:
    • - Poured Concrete
  • Green Energy Efficient:
    • - Thermal Windows
  • Gross Scheduled Income:
    • - $1,079,760.00
  • Heating Y/N:
    • - Yes
  • Insurance Expense:
    • - $18,264.00
  • Interior Features:
    • - Laminate Hardwood
  • Leasable Area:
    • - 29,709.00 Square Feet
  • Net Operating Income:
    • - $726,017.00
  • Amenities:
    • - Coin Op Laundry
    • - Elevator
    • - Thermal Windows
  • Gross Adjusted Income:
    • - 1047367
  • Gross Rent Multiplier:
    • - 14.52
  • Leased Items:
    • - None
  • Site Features:
    • - Patio
    • - Rooftop Deck
  • Style Code:
    • - 56 - 10+ Units
  • Total Expenses:
    • - 321351
  • Total Monthly Income:
    • - 89980
  • Units Below Grade:
    • - false
  • Vacancy Rate:
    • - 3
  • Water Sewer Garbage:
    • - 46744
  • Zoning Class:
    • - Multi-Family
  • Zoning Jurisdiction:
    • - County
  • Other Expense:
    • - 134265
  • Parcel Number:
    • - 3879900165
  • Possible Use:
    • - Multi-Family
  • Property Condition:
    • - Remodeled
  • Stories Total:
    • - 5
  • Structure Type:
    • - Multi Family
  • Annual Tax Amount:
    • - $122,078.00
  • Tax Year:
    • - 2024
  • View Y/N:
    • - Yes
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For more information on this listing, please contact...
Branding Photo
James Malsch
206-650-3406
Email

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