3901 Martin Luther King Jr Wy S, Seattle, WA 98108

$1,900,000
7,344
SqFt

Listing courtesy of Westlake Associates, Inc..

List Price
$1,900,000
Status
ACTIVE
MLS#
1517480
Days on Market
11
Style
55 - 5-9 Units
Finished SqFt
7,344
Lot Size (sq ft)
6,738

Property Description

MLK Flats is well situated between the Mount Baker and Columbia City Light Rail stations and is convenient to Downtown Seattle Shopping, Restaurants, Amazon, Google and Facebook. Three units have been updated with in unit washer and dryer (Units 2, 6 and 8). Other units have been updated with fresh paint and cabinets. The former laundry room space has been demoed to add a tenth unit. Building is fully leased and under professional property management.

Additional Information

List Date
2019-09-10 00:00:00
Community
Jefferson Park
Property Type
MULT
Units
9
Stories
3
Potential Terms
Cash Out
Year Built
1963
Total Parking
8
Exterior
Brick, Wood
Roof
Composition
School District
Seattle
Total Monthly Income
$14,377
Gross Scheduled Income
$144,177
Vacancy Rate
3
Gross Adjusted Income
$139,001
Annual Taxes
$7,939
Tax Year
2019
Insurance Expense
$3,500
W/S/G Expenses
$10,600
Total Expenses
$39,739
Net Operating Income
$99,262
Gross Rent Multiplier
13
Cap Rate
5

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
550
Unit 1 Rent
$1,100
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
550
Unit 2 Rent
$1,275
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
550
Unit 3 Rent
$1,200
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
550
Unit 4 Rent
$1,395
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
790
Unit 5 Rent
$1,495
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Size
550
Unit 6 Rent
$1,195
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