6635 Carleton Avenue S, Seattle, WA 98108

$1,045,000

Listing courtesy of Paragon Real Estate Advisors.

List Price
$1,045,000
Status
ACTIVE
MLS#
2235519
Days on Market
10
Style
54 - 4-Plex
Annual Tax Ammount
9024
Lot Size (sq ft)
3,048
Sewer
Sewer Connected

Property Description

The property features one studio unit (non-conforming), two 1-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit. All of the units were remodeled about 5 years ago with hard surface flooring, updated kitchens, fresh paint and fixtures throughout. The property has been meticulously cared for by the current owner and has mature landscaping. Tenant in unit B will be vacating in mid May, making this an ideal opportunity for an owner-user. As an investment, the property has a current 5.7% CAP rate which can be improved by increasing current rents and charging for storage. This is a rare opportunity to own a clean and stabilized property in the heart of Georgetown.

Additional Information

List Date
2024-05-09 20:39:45
Community
Georgetown
Net Operating Income
$59,403
Gross Adjusted Income
$80,607
Gross Scheduled Income
$83,100
Total Monthly Income
$6,925
Insurance Expenses
$2,180
Water/Sewer/Garbage Expenses
$8,000
Gross Rent Multiplier
12.58
Total Expenses
$21,204
Cap Rate
5.68
Vacancy Rate
3
Total Number of Units
4
Unit Name
6635
Potential Terms
Cash Out, Conventional
Year Built
1908
Roof
Built-Up
Other Expenses
2000
Energy Source
Electric
School District
Seattle
Total Monthly Income
$6,925
Gross Scheduled Income
$83,100
Vacancy Rate
3
Gross Adjusted Income
$80,607
Tax Year
2024
Insurance Expense
$2,180
W/S/G Expenses
$8,000
Total Expenses
$21,204
Net Operating Income
$59,403
Gross Rent Multiplier
12.58
Cap Rate
5.68
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