2020 8th Ave N, Seattle, WA 98109

$1,050,000
2,380
SqFt

Listing courtesy of The Foundation Group LLC.

List Price
$1,050,000
Status
ACTIVE
MLS#
1691422
Days on Market
4
Style
52 - Duplex
Building Condition
['Good']
Finished SqFt
2,380
Lot Size (sq ft)
4,100

Property Description

The 2020 8th Ave N Duplex was built in 1924 and has had significant updates to the 2 bed/2 bath unit. This property would be an ideal owner-occupy while generating cashflow through short-term or long-term rentals. The property consists of a two-story 2 bed/2 bath unit and a 1 bed/1 bath unit. The upper unit is currently being operated as a Airbnb and has historically received seasonal rent ranging from $2,000-$6,800. Currently the ground level of the 2 bed/ 2 bath unit is being rented on Airbnb as well and has generated $2,000-$3,900 a month. The units are extremely spacious and have a ton of upside if a new owner decides to keep them as Airbnb or transition to year leases. LR2 zoned and can be bought with next door 2016 & 2022 8th Ave N

Additional Information

List Date
2020-11-19 00:00:00
Community
Westlake
Property Type
MULT
Units
2
Stories
3
Potential Terms
Cash Out, Conventional, FHA
Year Built
1924
Total Parking
1
Uncovered Parking
1
View
City, Lake, Territorial
Exterior
Wood Products
Roof
Composition
School District
Seattle
Total Monthly Income
$7,600
Gross Scheduled Income
$91,200
Gross Adjusted Income
$91,200
Annual Taxes
$12,660
Tax Year
2020
Insurance Expense
$1,197
W/S/G Expenses
$2,476
Total Expenses
$24,397
Net Operating Income
$66,803
Gross Rent Multiplier
10
Cap Rate
6

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
850
Unit 1 Rent
$3,000
Unit 2 Beds
2
Unit 2 Baths
2.00
Unit 2 Size
1530
Unit 2 Rent
$2,000
Unit 3 Rent
$2,600
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