718 Cherry St, Seattle, WA 98104

$7,649,000
13,720
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$7,649,000
Status
ACTIVE
MLS#
1529612
Days on Market
13
Style
56 - 10+ Units
Finished SqFt
13,720
Lot Size (sq ft)
7,200

Property Description

This 30 unit community (29 units + 1 commercial space) provides an excellent opportunity to own an apartment in Seattle’s core market located one block east of downtown. 97 Walk Score and 100 Transit Score. This neighborhood is going through significant redevelopment with luxury apartments, senior assisted living facilities, expansion of major medical centers including Swedish Hospital and medical Center, and Harborview Hospital as well as the development of many highrise office developments.

Additional Information

List Date
2019-10-10 00:00:00
Community
First Hill
Property Type
MULT
Units
30
Stories
4
Potential Terms
Cash Out
Year Built
1902
Exterior
Wood, Wood Products
Roof
Flat
School District
Seattle
Total Monthly Income
$44,553
Gross Scheduled Income
$576,703
Vacancy Rate
3
Gross Adjusted Income
$559,402
Annual Taxes
$57,368
Tax Year
2019
Insurance Expense
$9,000
W/S/G Expenses
$30,004
Total Expenses
$172,854
Net Operating Income
$386,549
Gross Rent Multiplier
13
Cap Rate
5

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
586
Unit 1 Rent
$1,499
Unit 2 Baths
1.00
Unit 2 Size
327
Unit 2 Rent
$1,160
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
497
Unit 3 Rent
$1,500
Unit 4 Baths
1.00
Unit 4 Size
317
Unit 4 Rent
$1,150
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
497
Unit 5 Rent
$1,349
Unit 6 Baths
1.00
Unit 6 Size
317
Unit 6 Rent
$1,125
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