8520 16th Ave NW, Seattle, WA 98117

$1,400,000
2,040
SqFt

Listing courtesy of .

List Price
$1,400,000
Status
PENDING FEASABILITY
MLS#
1718816
Days on Market
48
Style
54 - 4-Plex
Building Condition
['Fair']
Finished SqFt
2,040
Lot Size (sq ft)
7,500

Property Description

DRIVE BY ONLY. DO NOT DISTURB TENANTS. value in land. 4-plex sitting on double lot with split zoning. north parccel LR2, south parcel NC3P-55. Price includes both lots and must be sold together. As per review by architect you could build 8 townhomes w/garages-OR- 4 townhomes and 26 one bed flats and 1 commercial unit -OR- 4 townhomes and 19 flats. All plans conform with current zoning. Building is fully rented and rents are below market. Provides income stream while doing your design and permits. Best option is probably 8 townhomes. View of Olympic mountains from 2nd story. Near transit hub. New mixed use building going in on 15th NW will upgrade neighborhood.

Additional Information

List Date
2021-01-19 00:00:00
Community
Crown Hill
Property Type
MULT
Stories
1
Potential Terms
Cash Out, Conventional
Year Built
1956
Total Parking
7
Uncovered Parking
7
Exterior
Wood
Roof
Flat
Lot Details
Paved Street, Value In Land
School District
Seattle
Total Monthly Income
$3,715
Gross Scheduled Income
$44,580
Gross Adjusted Income
$44,580
Annual Taxes
$9,814
Tax Year
2020
Insurance Expense
$1,532
W/S/G Expenses
$8,000
Total Expenses
$19,846
Net Operating Income
$24,734
Gross Rent Multiplier
31
Cap Rate
2

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
480
Unit 1 Rent
$975
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
480
Unit 2 Rent
$915
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Size
480
Unit 3 Rent
$860
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
480
Unit 4 Rent
$905
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