303 Harvard Avenue E, Seattle, WA 98102

$5,350,000
9,583
SqFt

Listing courtesy of CPX LLC.

List Price
$5,350,000
Status
ACTIVE
MLS#
1972680
Days on Market
8
Style
56 - 10+ Units
Finished SqFt
9,583
Area Total SqFt
9583
Lot Size (sq ft)
7,557

Property Description

BEVERLY RAE APARTMENTS is a 14-unit, well maintained apartment community in the heart of Seattle’s Capitol Hill Neighborhood. Residents benefit from a highly walkable, trendy neighborhood with numerous surrounding restaurants, coffee shops, and daily-needs grocery and retail. The property is well-located, sitting on Harvard Ave E near Olive Way, which allows tenants direct access to the Interstate-5 on-ramps. The Property has an attractive brick exterior, newer roof, and includes 8 parking stalls. The Beverly Rae Apartments offers several unique value-add strategies that will allow for potential Buyers to drastically improve their Net Operating Income, while also reducing their basis in this asset.

Additional Information

List Date
2022-08-01 16:48:10
Community
Capitol Hill
Potential Terms
Cash Out, Conventional
Year Built
1949
Roof
Flat
Heating/Cooling Type
Hot Water Recirc Pump
Other Expenses
30607
Energy Source
Electric
School District
Seattle
Total Monthly Income
$22,452
Gross Scheduled Income
$269,400
Vacancy Rate
5
Gross Adjusted Income
$262,131
Tax Year
2021
Insurance Expense
$5,453
W/S/G Expenses
$26,690
Total Expenses
$99,247
Net Operating Income
$162,884
Gross Rent Multiplier
19.86
Cap Rate
3
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