1120 14th Avenue S, Seattle, WA 98144

$2,799,000
6,424
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$2,799,000
Status
ACTIVE
MLS#
2259941
Days on Market
288
Style
56 - 10+ Units
Finished SqFt
6,424
Area Total SqFt
6424
Annual Tax Ammount
24566
Lot Size (sq ft)
13,074
Sewer
Sewer Connected

Property Description

Attractive 13 unit apartment building located in the highly desirable N Beacon Hill neighborhood. The Parkview has undergone a series of recent upgrades, including new exterior paint and remodeled units boasting new cabinets, stone countertops, flooring, and appliance packages. The building is thoughtfully equipped with a secured entry, low-maintenance landscaping, a spacious patio for tenants, as well as common laundry facilities and ample parking. Prospective buyers will find additional upside by capitalizing on the development possibilities of this generously sized 13,074 square foot LR3 (M) zoned lot. With ample space available, there is room to re-imagine the existing parking area and potentially add more units.

Additional Information

List Date
2023-10-10 19:28:10
Community
N Beacon Hill
Net Operating Income
$162,116
Gross Adjusted Income
$220,694
Gross Scheduled Income
$227,520
Total Monthly Income
$18,960
Insurance Expenses
$4,986
Water/Sewer/Garbage Expenses
$13,226
Gross Rent Multiplier
12.3
Total Expenses
$58,578
Cap Rate
5.79
Vacancy Rate
3
Total Number of Units
13
Unit Name
1120
Potential Terms
Cash Out, Conventional
Year Built
1958
Roof
Flat
Other Expenses
15800
Energy Source
Electric
School District
Seattle
Total Monthly Income
$18,960
Gross Scheduled Income
$227,520
Vacancy Rate
3
Gross Adjusted Income
$220,694
Tax Year
2024
Insurance Expense
$4,986
W/S/G Expenses
$13,226
Total Expenses
$58,578
Net Operating Income
$162,116
Gross Rent Multiplier
12.3
Cap Rate
5.79
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