4-Plex: 8% current cap rate, 9.5% at market rents. Meticulously maintained by current owner for 20 years; fully-occupied with quality tenants; plenty of upside in rents. Fresh exterior paint, newer roof, water heaters, coin-op washer/dryer (brings add’l income), crawlspace barrier, windows & water line. All units 1bed/1bath; common laundry room includes unit storage spaces. Walking distance to PLU. Solid, turn-key investment property; you won't find a cleaner 4-plex on the market for this price! For more information on this property, please see our listing.
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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.
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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.
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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.
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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<<
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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!
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DUPLEX on a .46-acre corner lot in a desirable location; new roof 2016. Each unit is 2bed/1bath with individual garage and back yard. Plenty of space for extra parking, RV parking. Super convenient commuter location, close to amenities and freeway access while still being able to enjoy a peaceful, tranquil country feel. Solid, turn-key property with plenty of upside potential (below market rents). Would also make a great owner-occupant.