811 N Motor Place, Seattle, WA 98103

$1,950,000
4,853
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$1,950,000
Status
ACTIVE
MLS#
1538198
Days on Market
14
Style
55 - 5-9 Units
Finished SqFt
4,853
Lot Size (sq ft)
5,000

Property Description

Well located 7 unit apartment with immediate rental upside situated in the very walkable and amenity rich Fremont neighborhood. Building offers residents a nice residential feel with quick access to the tech employment centers of Fremont, South Lake Union and Downtown Seattle. This is the first time the property has been available to purchase in over 14 years. Rare opportunity to purchase a well-located building with immediate rental upside and potential to add value through renovation.

Additional Information

List Date
2019-11-04 00:00:00
Community
Fremont
Property Type
MULT
Units
7
Stories
3
Potential Terms
Cash Out, Conventional
Year Built
1967
Total Parking
7
Uncovered Parking
7
Exterior
Cement/Concrete, Wood Products
Roof
Flat
School District
Seattle
Total Monthly Income
$10,230
Gross Scheduled Income
$122,760
Vacancy Rate
4
Gross Adjusted Income
$117,850
Annual Taxes
$15,693
Tax Year
2019
Insurance Expense
$2,100
W/S/G Expenses
$9,020
Total Expenses
$41,179
Net Operating Income
$76,671
Gross Rent Multiplier
15
Cap Rate
3

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
550
Unit 1 Rent
$1,150
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
550
Unit 2 Rent
$1,050
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
800
Unit 3 Rent
$1,400
Unit 4 Beds
2
Unit 4 Baths
1.00
Unit 4 Size
800
Unit 4 Rent
$1,600
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
800
Unit 5 Rent
$1,700
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
800
Unit 6 Rent
$1,300
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