1824 N 103rd Street, Seattle, WA 98133

$2,950,000
9,975
SqFt

Listing courtesy of Westlake Associates, Inc..

List Price
$2,950,000
Status
ACTIVE
MLS#
2262502
Days on Market
80
Style
55 - 5-9 Units
Finished SqFt
9,975
Area Total SqFt
9975
Annual Tax Ammount
28860
Lot Size (sq ft)
7,330
Sewer
Sewer Connected

Property Description

ASSUMABLE FINANCING with a 3.32% Interest Rate. Constructed in 1986, Northgate 9 is a 3-story, wood-framed building featuring a ground-floor parking garage. The property comprises nine 2-bedroom, 2-bathroom apartment units, each spanning an average of 1,108 sqft. Every unit boasts an open-concept layout, covered balconies, full appliance package and in-unit full-size washers and dryers. Northgate 9 presents a unique investment opportunity. Prospective investors can capitalize on the property’s strategic location and low-maintenance appeal. Potential for enhancing returns by renovating additional unit interiors, adjusting rents to align with market rates, and securing the parking garage by adding a garage door & charging for parking.

Additional Information

List Date
2024-05-05 20:05:09
Community
Northgate
Net Operating Income
$195,064
Gross Adjusted Income
$262,656
Gross Scheduled Income
$276,480
Total Monthly Income
$18,060
Insurance Expenses
$6,045
Water/Sewer/Garbage Expenses
$16,887
Gross Rent Multiplier
10.67
Total Expenses
$67,592
Cap Rate
6.61
Vacancy Rate
13824
Total Number of Units
9
Unit Name
1824
Potential Terms
Assumable, Cash Out, Conventional, See Remarks
Year Built
1986
Roof
Composition
Site Features
Deck, Fenced-Partially
Other Expenses
15800
Energy Source
Electric
School District
Seattle
Total Monthly Income
$18,060
Gross Scheduled Income
$276,480
Vacancy Rate
13824
Gross Adjusted Income
$262,656
Tax Year
2024
Insurance Expense
$6,045
W/S/G Expenses
$16,887
Total Expenses
$67,592
Net Operating Income
$195,064
Gross Rent Multiplier
10.67
Cap Rate
6.61
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