Just Sold! (off market) | 9-Unit Multifamily in Burien, WA
Broker: Charles Burnett | Sales Price: $1,100,000 | Sale Date: 6.29.17
>>CLICK HERE<< to search all multifamily properties for sale in King County.
The Rental Housing Association of Washington filed suit on Tuesday claiming Seattle’s new cap on move-in fees for rentals is a form of rent control, which is unlawful in Washington State. The law, which passed unanimously in December, requires landlords to offer a six-month installment plan for tenants to pay off first and last month’s rent as well as a security deposit and any nonrefundable fees. It puts a cap on those fees and security deposit which can not exceed the first month’s rent.
8-Unit University Place Multifamily: 6% Cap. Quality built in 2006; two 4-plex buildings with 1244 sq.ft. town home-style units, each with 2bed/1.5bath, washer/dryer, fireplace, individual garage, and back yard with covered back patio. Solid, turn key Investment with low expense & HIGH INCOME. Immaculately maintained and fully occupied. Property sits on a .52-acre lot; plenty of parking surrounded by tall privacy hedges. Ideal location close to amenities and steps to Meadow Park Golf Course.
9-Unit multifamily w/ a potential 9% Market Cap Rate!, 5.3% current-actual. Fully-occupied by long-term tenants. Huge upside for the investor to upgrade interiors and bring units up to market rents. New Roof and Windows in 2011. Onsite-laundry room to bring in extra income, or convert to 10th unit. Unit count consists of (8)2bed/1bths and (1)1bed/1bath w/ large living spaces and dining rms. Plenty of offstreet parking. Good location close to amenities; just a 20 minute drive to Downtown Seattle.
DUPLEX in University Place: 7.12% Current Cap Rate. Town home-style units, each with 3 beds, 2.5 baths, individual 2-car garages & complete appliances. Solid, turn key Investment with low expense & HIGH INCOME. Quality built in 2002; Immaculately maintained. Fully occupied: one tenant in lease through 3/2018; the other is month-to-month, which makes a great option for an owner-occupant buyer. Located on quiet cul de sac on private street; lots of open space; nice & quiet backyard.
FOURPLEX: 9% Market Cap Rate with upside potential in rents. Well maintained; same owner for 24 years; very long-term tenants (3-20 years of rental history). This is a solid, turn-key investment property producing good cash-flow! Newer vinyl windows, roof, & siding. Units are all 2bed/1bath/830SF, each with own washer/dryer and a cozy fireplace. Second floor units have private balcony. 4-car carport + 4-car open parking. High-demand rental minutes from I-5 & access to all amenities. For more information on this property >>CLICK HERE<<
3332 Bridgeport Wy W, University Place 98466
Well-maintained 11-unit property in University Place with a market cap rate of 8.62% First time on the market, ever. Plenty of upside with rents. Steps to Whole Foods Market, short walk to new UP Town Center. Unit count consists of (9)2bed/1bth and (2)1bed/1bath. Storage/office area could be converted to 12th unit for additional income. Coin-Op W/Ds owned by seller-adds to income. Large lot w/ fenced common, quiet backyard; sits on 3 parcels. Ample parking. This is a solid, turn-key investment!