- 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
QR Code
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