8309 5th Avenue NE, Seattle, WA 98115
- $4,000,000
- 13,700
- SqFt
Listing courtesy of Westlake Associates, Inc..
- List Price
- $4,000,000
- Status
- PENDING
- MLS#
- 2286745
- Days on Market
- 49
- Style
- 56 - 10+ Units
- Finished SqFt
- 13,700
- Area Total SqFt
- 13700
- Annual Tax Ammount
- 39678
- Lot Size (sq ft)
- 11,160
- Sewer
- Sewer Connected
Property Description
5th Ave Manor presents an exceptional opportunity for investors seeking ownership of a desirable building in a highly sought-after residential locale, characterized by a scarcity of rental accommodations. With its strategic location and potential for value-add enhancement through modest kitchen, flooring, and appliance upgrades, 5th Avenue Manor promises lucrative returns. Following these enhancements, a new owner can anticipate achieving a stabilized Market CAP of 6.01%. Nestled nearby the scenic Green Lake Park, renowned for its myriad recreational pursuits, this coveted address offers seamless access to the University of Washington, the bustling South Lake Union Tech Core, and the vibrant Northgate shopping and entertainment hub.
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Additional Information
- List Date
- 2024-07-28 19:24:09
- Community
- Northgate
- Net Operating Income
- $240,496
- Gross Adjusted Income
- $362,406
- Gross Scheduled Income
- $381,480
- Total Monthly Income
- $31,790
- Insurance Expenses
- $11,675
- Water/Sewer/Garbage Expenses
- $21,781
- Gross Rent Multiplier
- 10.49
- Total Expenses
- $121,910
- Cap Rate
- 6.01
- Vacancy Rate
- 5
- Total Number of Units
- 16
- Unit Name
- 8309
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1969
- Roof
- Flat
- Other Expenses
- 48776
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $31,790
- Gross Scheduled Income
- $381,480
- Vacancy Rate
- 5
- Gross Adjusted Income
- $362,406
- Tax Year
- 2024
- Insurance Expense
- $11,675
- W/S/G Expenses
- $21,781
- Total Expenses
- $121,910
- Net Operating Income
- $240,496
- Gross Rent Multiplier
- 10.49
- Cap Rate
- 6.01
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