1443 NW 61st Street, Seattle, WA 98107
- $1,950,000
- 4,374
- SqFt
Listing courtesy of Lee & Associates Commercial RE.
- List Price
- $1,950,000
- Status
- ACTIVE
- MLS#
- 2161821
- Days on Market
- 10
- Style
- 55 - 5-9 Units
- Finished SqFt
- 4,374
- Area Total SqFt
- 4374
- Annual Tax Ammount
- 15623
- Lot Size (sq ft)
- 5,000
- Sewer
- Sewer Connected
- Offer Review Date
- 2023-09-28
Property Description
Lee & Associates NW Multifamily Team is pleased to present the Ballard 6. Situated just few blocks north of the main intersection of Ballard. The building has been well maintained. Ownership replaced all hot water heaters& the roof was replaced in 2011. Approximately half the units have received new carpet, kitchen and bath fixtures on turnover. Plumbing is copper & there are in-unit electrical panels. A well-positioned asset within the desirable Ballard submarket with multiple investment strategies, from enjoying steady cashflows and realizing current loss-to-lease from current below market rents (Rent Inc sent to half of tenants) to performing unit renovations, modernizing finishes & exploring additional unit potential to maximize returns
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Additional Information
- List Date
- 2023-09-14 16:49:11
- Community
- Ballard
- Net Operating Income
- $80,210
- Gross Adjusted Income
- $118,244
- Gross Scheduled Income
- $124,330
- Total Monthly Income
- $9,854
- Insurance Expenses
- $2,400
- Water/Sewer/Garbage Expenses
- $6,600
- Gross Rent Multiplier
- 16
- Total Expenses
- $38,035
- Cap Rate
- 4.11
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 1443
- Potential Terms
- Cash Out, Conventional, Owner Financing, See Remarks
- Year Built
- 1969
- Roof
- Flat
- Other Expenses
- 13412
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- West Woodland
- Middle School
- Hamilton Mid
- High School
- Ballard High
- Total Monthly Income
- $9,854
- Gross Scheduled Income
- $124,330
- Vacancy Rate
- 5
- Gross Adjusted Income
- $118,244
- Tax Year
- 2023
- Insurance Expense
- $2,400
- W/S/G Expenses
- $6,600
- Total Expenses
- $38,035
- Net Operating Income
- $80,210
- Gross Rent Multiplier
- 16
- Cap Rate
- 4.11
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