2431 NW 57th St, Seattle, WA 98107

$1,480,000
3,740
SqFt

Listing courtesy of CBRE INC.

List Price
$1,480,000
Status
ACTIVE
MLS#
1425695
Days on Market
37
Style
53 - Tri-plex
Finished SqFt
3,740
Lot Size (sq ft)
4,400

Property Description

Pines II, a triplex built in 1967 located in the heart of Ballard offers three well-maintained two-bedroom units. Pines II offers new ownership a value-add investment in a great location with upside in converting garage spaces into more units. Zoned LR3, the property is primed for redevelopment located within the City of Seattle's Urban Village and Frequent Transit overlay, allowing for development without parking requirements. Walk score of 96.

Additional Information

List Date
2019-03-20 00:00:00
Community
Ballard
Property Type
MULT
Units
3
Stories
1
Potential Terms
Cash Out, Conventional
Year Built
1967
Total Parking
4
Uncovered Parking
2
Exterior
Stucco, Wood
Roof
Composition
Lot Details
Value In Land
School District
Seattle
High School
Ballard High
Total Monthly Income
$5,035
Gross Scheduled Income
$60,424
Vacancy Rate
5
Gross Adjusted Income
$57,565
Annual Taxes
$6,254
Tax Year
2019
Insurance Expense
$1,500
W/S/G Expenses
$1,165
Total Expenses
$16,840
Net Operating Income
$40,724
Gross Rent Multiplier
24
Cap Rate
2

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
1005
Unit 1 Rent
$1,695
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
1000
Unit 2 Rent
$1,695
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
860
Unit 3 Rent
$1,375

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