2117 Dexter Avenue N, Seattle, WA 98109

$2,575,000

Listing courtesy of Paragon Real Estate Advisors.

List Price
$2,575,000
Status
ACTIVE
MLS#
1839433
Days on Market
7
Style
55 - 5-9 Units
Lot Size (sq ft)
4,600

Property Description

The building was built in 1970 and is a four story building with wood framed construction. The building features one ground floor studio unit, four large (750 Sq. Ft.) 1BD/1BTH units, and a 1,500 square foot 3BD/2BTH penthouse unit occupying the whole top floor. The top three floors have great views of Downtown and Lake Union. The ground floor studio has a small patio area and the other five units each have private decks. The penthouse unit has been remodeled and features a new kitchen, bathrooms, wood floors, stainless steel appliances, and an in-unit washer/dryer. The remaining units have new vinyl flooring and present a value-add opportunity to make further improvements to the unit interiors to capture additional rental upside.

Additional Information

List Date
2021-09-14 00:00:00
Community
Lake Union
Potential Terms
Cash Out
Year Built
1970
Roof
Flat
Heating/Cooling Type
Baseboard
Other Expenses
6750
Energy Source
Electric
School District
Seattle
Total Monthly Income
$12,160
Gross Scheduled Income
$145,920
Vacancy Rate
4
Gross Adjusted Income
$140,083
Tax Year
2021
Insurance Expense
$2,800
W/S/G Expenses
$6,537
Total Expenses
$37,203
Net Operating Income
$102,880
Gross Rent Multiplier
17
Cap Rate
4
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