4230 8th Ave NE, Seattle, WA 98105
- $4,300,000
- 6,884
- SqFt
Listing courtesy of Pilot Ventures LLC.
- List Price
- $4,300,000
- Status
- ACTIVE
- MLS#
- 1731263
- Days on Market
- 51
- Style
- 56 - 10+ Units
- Finished SqFt
- 6,884
- Lot Size (sq ft)
- 4,750
Property Description
The Pinetree Apartments are strategically located in the U-District neighborhood, approximately 5 blocks from the new Light Rail Station scheduled to open this year. Walk score of 96 (Walker’s Paradise) and transit score of 78 (Excellent). Well-maintained and poised for additional revenue growth via rent increases, consistent utility billback fees, parking rent, and laundry income. Built in 1981, the property consists 13 units with an average size of 573 sf: five 1-bed, four 2-bed units, one 3-bed 1-bath, and one 3-bed 1.75 bath. The building is wood framed with copper plumbing, vinyl windows, electric baseboard heat, and 12 parking spaces. Two units are townhouse style which has been well received in this submarket.
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Additional Information
- List Date
- 2021-02-18 00:00:00
- Community
- University District
- Property Type
- MULT
- Units
- 13
- Stories
- 4
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1981
- Total Parking
- 12
- Uncovered Parking
- 8
- Exterior
- Wood, Wood Products
- Roof
- See Remarks
- Site Features
- Cable TV, High Speed Internet
- Lot Details
- Curbs, Paved Street, Sidewalk
- School District
- Seattle
- Elementary School
- Green Lake
- Middle School
- Hamilton Mid
- High School
- Lincoln High
- Total Monthly Income
- $24,415
- Gross Scheduled Income
- $264,540
- Vacancy Rate
- 4
- Gross Adjusted Income
- $256,622
- Annual Taxes
- $30,692
- Tax Year
- 2020
- Insurance Expense
- $2,580
- W/S/G Expenses
- $7,365
- Total Expenses
- $84,647
- Net Operating Income
- $171,975
- Gross Rent Multiplier
- 16
- Cap Rate
- 4
Room Dimensions
- Unit 1 Beds
- 1
- Unit 1 Baths
- 1.00
- Unit 1 Size
- 350
- Unit 1 Rent
- $1,075
- Unit 2 Beds
- 1
- Unit 2 Baths
- 1.00
- Unit 2 Size
- 350
- Unit 2 Rent
- $1,250
- Unit 3 Beds
- 1
- Unit 3 Baths
- 1.00
- Unit 3 Size
- 350
- Unit 3 Rent
- $1,300
- Unit 4 Beds
- 2
- Unit 4 Baths
- 1.00
- Unit 4 Size
- 600
- Unit 4 Rent
- $1,450
- Unit 5 Beds
- 2
- Unit 5 Baths
- 1.00
- Unit 5 Size
- 600
- Unit 5 Rent
- $1,450
- Unit 6 Beds
- 1
- Unit 6 Baths
- 1.00
- Unit 6 Size
- 350
- Unit 6 Rent
- $1,000
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