6527 Rainier Ave S, Seattle, WA 98118

$1,100,000
4,752
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$1,100,000
Status
PENDING INSPECTION
MLS#
1471281
Days on Market
43
Style
55 - 5-9 Units
Finished SqFt
4,752
Lot Size (sq ft)
5,072

Property Description

Located in rapidly appreciating South Seattle less than 1 mile from the Othello light rail station, the Rainier 6 is a solid 60’s apt building that has been well maintained and updated with the potential to add value. The property features spacious 1- and 2-bedroom units that could be reconfigured to add a bedroom (buyer to verify). Improvements include: new cabinets and granite countertops, new tile and hardwood laminate flooring, new roof, new windows, and resurfaced decks. Pro Forma 6% CAP!

Additional Information

List Date
2019-06-11 00:00:00
Community
Brighton
Property Type
MULT
Units
6
Stories
3
Potential Terms
Cash Out
Year Built
1967
Total Parking
6
Uncovered Parking
6
Exterior
Brick, Wood Products
Roof
Flat
School District
Seattle
Total Monthly Income
$6,890
Gross Scheduled Income
$82,680
Vacancy Rate
3
Gross Adjusted Income
$80,200
Annual Taxes
$6,986
Tax Year
2019
Insurance Expense
$1,500
W/S/G Expenses
$8,384
Total Expenses
$23,968
Net Operating Income
$56,232
Gross Rent Multiplier
13
Cap Rate
5

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
600
Unit 1 Rent
$1,020
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
1000
Unit 2 Rent
$1,200
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
1000
Unit 3 Rent
$1,250
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
600
Unit 4 Rent
$1,020
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
1000
Unit 5 Rent
$1,200
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
600
Unit 6 Rent
$1,020
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