1419 E Olive Street, Seattle, WA 98122

$1,325,000
2,750
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$1,325,000
Status
ACTIVE
MLS#
1955970
Days on Market
12
Style
53 - Tri-plex
Finished SqFt
2,750
Area Total SqFt
2750
Lot Size (sq ft)
3,840

Property Description

This triplex offers a unique mix of units - one 1BD/1BTH unit, one 2BD/1BTH unit, and one 3BD/1.75BTH townhouse-style unit. The building sits back off the street, behind a charming courtyard, giving occupants a great spot to enjoy summer days. The units are currently renting well below market presenting significant rental upside. The property will operate at a 4.8% CAP rate when rents are brought up to market. The condition of the units also gives a buyer the opportunity to update the units and capture higher rents. The location is great for commuters heading to both north or south Seattle as it is only a few blocks to the Capitol Hill Light Rail Station. Cal Anderson Park and Broadway Avenue are also just a few blocks away.

Additional Information

List Date
2022-06-22 00:23:11
Community
Capitol Hill
Potential Terms
Cash Out, Conventional, FHA
Year Built
1945
Roof
Composition
Heating/Cooling Type
Baseboard
Other Expenses
1942
Energy Source
Electric
School District
Seattle
Total Monthly Income
$6,052
Gross Scheduled Income
$72,624
Vacancy Rate
3
Gross Adjusted Income
$70,445
Tax Year
2022
Insurance Expense
$1,138
W/S/G Expenses
$3,409
Total Expenses
$17,067
Net Operating Income
$53,378
Gross Rent Multiplier
18.2
Cap Rate
4
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