14520 Phinney Avenue N, Shoreline, WA 98133
- $3,500,000
- 12,162
- SqFt
Listing courtesy of Westlake Associates, Inc..
- List Price
- $3,500,000
- Status
- ACTIVE
- MLS#
- 2571362
- Days on Market
- 172
- Style
- 56 - 10+ Units
- Finished SqFt
- 12,162
- Area Total SqFt
- 12162
- Annual Tax Ammount
- 37361
- Lot Size (sq ft)
- 17,493
- Sewer
- Sewer Connected
Property Description
Conveniently located just North of Seattle City limits, the Highland Terrace Apartments offers a new investor a great value add opportunity with the flexibility of raising below market rents without the hassles and constraints of Seattle Landlord/Tenant laws. The value add here is to renovate all units with modern finishes, raise rents to market and implement a RUBS program to start billing back tenants for utilities. Ample carport and open parking. Updated electrical panels and newer TPO Roof. Potential to add in-unit washer and dryers. Upper units feature private decks. Individual hot water tanks for each unit. New secured tenant mailbox unit. Larger owner storage closet onsite.
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Additional Information
- List Date
- 2026-02-28 19:13:13
- Community
- Shoreline
- Net Operating Income
- $216,254
- Gross Adjusted Income
- $336,904
- Gross Scheduled Income
- $354,636
- Total Monthly Income
- $29,553
- Insurance Expenses
- $13,200
- Water/Sewer/Garbage Expenses
- $23,794
- Gross Rent Multiplier
- 9.87
- Total Expenses
- $120,650
- Cap Rate
- 6.18
- Vacancy Rate
- 5
- Total Number of Units
- 15
- Unit Name
- 14520
- Potential Terms
- Cash, Conventional
- Year Built
- 1963
- Roof
- Flat, See Remarks
- Other Expenses
- 46295
- Energy Source
- Electric
- School District
- Shoreline
- Total Monthly Income
- $29,553
- Gross Scheduled Income
- $354,636
- Vacancy Rate
- 5
- Gross Adjusted Income
- $336,904
- Tax Year
- 2026
- Insurance Expense
- $13,200
- W/S/G Expenses
- $23,794
- Total Expenses
- $120,650
- Net Operating Income
- $216,254
- Gross Rent Multiplier
- 9.87
- Cap Rate
- 6.18
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.