7812 Lake City Wy NE, Seattle, WA 98115

$1,099,990
2,840
SqFt

Listing courtesy of RE/MAX Northwest Realtors.

List Price
$1,099,990
Status
ACTIVE
MLS#
1544594
Days on Market
19
Style
56 - 10+ Units
Finished SqFt
2,840
Lot Size (sq ft)
4,792

Property Description

Rare opportunity to own this income generating, well-maintained property in Greenlake. Buy and hold for the redevelopment potential of this newly rezoned C1-55 (M) 4,792sqft lot. Gross monthly rental income is over $6,000, cap rate 5%. All renting out, rarely has vacancy, 1-year lease till Apr.2020. Top-notch location 3 mins to I5, 0.75 mile from the new Roosevelt Light Rail Station, about 5-10 minutes driving from UW and downtown. Cash flow plus great equity appreciation, don't miss this one!

Additional Information

List Date
2019-11-27 00:00:00
Community
Roosevelt
Property Type
MULT
Units
11
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1925
Total Parking
4
Uncovered Parking
4
View
City
Exterior
Wood, Wood Products
Roof
Composition
Site Features
High Speed Internet
Lot Details
Paved Street, Sidewalk, Value In Land
School District
Seattle
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$6,585
Gross Scheduled Income
$79,020
Gross Adjusted Income
$79,020
Annual Taxes
$7,648
Tax Year
2019
Insurance Expense
$1,500
W/S/G Expenses
$2,373
Total Expenses
$26,447
Net Operating Income
$52,573
Gross Rent Multiplier
15
Cap Rate
5

Room Dimensions

Unit 1 Rent
$560
Unit 2 Rent
$200
Unit 3 Rent
$580
Unit 4 Rent
$710
Unit 5 Rent
$515
Unit 6 Rent
$630
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