11515 26th Avenue NE, Seattle, WA 98125

$3,300,000

Listing courtesy of Paragon Real Estate Advisors.

List Price
$3,300,000
Status
ACTIVE
MLS#
1850773
Days on Market
15
Style
56 - 10+ Units
Area Total SqFt
12110
Lot Size (sq ft)
11,200

Property Description

The Melinda Arms is a 15 unit apartment building built in 1968. Located in the Lake City neighborhood of North Seattle, the building is a mere 1.4 miles to the recently opened Northgate Light Rail Station and 2.3 Miles to the University of Washington. The building has a 1:1 parking ratio and is steps from the King County Rapid Ride Transit Line. The property has all electric heat and appliances as well as a common laundry facility for tenant convenience. The building interiors are mainly original and presents a great value add play for a prospective investor.

Additional Information

List Date
2021-10-07 00:00:00
Community
Seattle
Potential Terms
Cash Out, Conventional, FHA
Year Built
1968
Roof
Flat
Heating/Cooling Type
Baseboard
Other Expenses
15677
Energy Source
Electric
School District
Seattle
Total Monthly Income
$17,421
Gross Scheduled Income
$209,050
Vacancy Rate
4
Gross Adjusted Income
$200,688
Tax Year
2021
Insurance Expense
$4,493
W/S/G Expenses
$18,440
Total Expenses
$68,697
Net Operating Income
$131,991
Gross Rent Multiplier
15
Cap Rate
4
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