7130 California Avenue SW, Seattle, WA 98136
- $3,300,000
- 13,120
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $3,300,000
- Status
- ACTIVE
- MLS#
- 2285900
- Days on Market
- 11
- Style
- 56 - 10+ Units
- Finished SqFt
- 13,120
- Area Total SqFt
- 13120
- Annual Tax Ammount
- 40938
- Lot Size (sq ft)
- 11,760
- Sewer
- Sewer Connected
Property Description
The Haven is a well-located apartment building on California Ave, just south of Morgan Junction, offering a prime opportunity for investors in the vibrant West Seattle market. This asset features a desirable unit mix of 8 generously sized 1BD/1BTH units and 8 spacious sized 2BD/1BTH units, catering to a broad range of potential tenants. The Haven is a great value-add opportunity with a low entry basis of $206,250 per unit and $251 per square foot. Current rents are well below market presenting significant potential to enhance revenue through increased rents, parking fees, utilities charges, pet rents, and further cosmetic upgrades.
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Additional Information
- List Date
- 2024-09-04 19:43:10
- Community
- Gatewood
- Net Operating Income
- $129,658
- Gross Adjusted Income
- $245,940
- Gross Scheduled Income
- $245,940
- Total Monthly Income
- $20,495
- Insurance Expenses
- $12,000
- Water/Sewer/Garbage Expenses
- $20,454
- Gross Rent Multiplier
- 13.4
- Total Expenses
- $116,282
- Cap Rate
- 3.93
- Total Number of Units
- 16
- Unit Name
- 7130
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1967
- Roof
- Flat
- Other Expenses
- 42890
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $20,495
- Gross Scheduled Income
- $245,940
- Gross Adjusted Income
- $245,940
- Tax Year
- 2024
- Insurance Expense
- $12,000
- W/S/G Expenses
- $20,454
- Total Expenses
- $116,282
- Net Operating Income
- $129,658
- Gross Rent Multiplier
- 13.4
- Cap Rate
- 3.93
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