2603 14th Ave W, Seattle, WA 98119

$1,470,000
3,246
SqFt

Listing courtesy of RE/MAX Metro Realty, Inc..

List Price
$1,470,000
Status
ACTIVE
MLS#
1398637
Days on Market
71
Style
53 - Tri-plex
Building Condition
['Average']
Finished SqFt
3,246
Lot Size (sq ft)
6,500

Property Description

Former 4-plex turned into a triplex w/large owners unit on main/top floor (2 units converted to 1 in 1970's/80's) w/sweeping views of the Sound. Layout is large 2 bed/2 bath on top floor (#2303), 1/1 on 2nd floor -2301 & studio/1 bath on 2nd floor-2307. Ground floor is ALL storage w/coin-op w/d for units 2&3. 3 parking spots. Wonderful opportunities await - covert back to 4-plex (huge upside on cap rate), update existing triplex or land bank & build? Zoned LR3. Stable renters and never vacant.

Additional Information

List Date
2019-01-10 00:00:00
Community
Queen Anne
Property Type
MULT
Units
3
Stories
3
Potential Terms
Cash Out, Conventional, FHA, VA
Year Built
1956
Total Parking
3
Uncovered Parking
3
View
Golf Course, Mountain, Sound, Territorial
Exterior
Brick, Wood
Roof
Composition
Site Features
Cable TV, Deck, Fenced-Partially, Gas Available, Shop
Lot Details
Paved Street, Sidewalk
School District
Seattle
Total Monthly Income
$5,450
Gross Scheduled Income
$65,400
Gross Adjusted Income
$65,400
Annual Taxes
$10,656
Tax Year
2018
Insurance Expense
$1,600
W/S/G Expenses
$3,500
Total Expenses
$17,756
Net Operating Income
$47,644
Gross Rent Multiplier
23
Cap Rate
3

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
2.00
Unit 1 Size
1896
Unit 1 Rent
$2,500
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
700
Unit 2 Rent
$1,550
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
650
Unit 3 Rent
$1,400
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