5941 California Avenue SW Unit #1-30, Seattle, WA 98136

$8,100,000
30,080
SqFt

Listing courtesy of Kidder Mathews. Selling Office: ZNonMember-Office-MLS.

Sold Price
$8,100,000
List Price
$8,450,000
Status
SOLD
MLS#
1460952
Closing Date
Aug 30, 2019
Days on Market
27
Style
56 - 10+ Units
Finished SqFt
30,080
Area Total SqFt
30080
Annual Tax Ammount
62442
Lot Size (sq ft)
14,996
Sewer
Sewer Connected
Offer Review Date
2019-06-04

Property Description

Cumberland House is within walking distance of the Junction, well connected to Downtown via RapidRide, surrounded by transit/dining/shopping. 1989 construction with amenities that are comparable to new construction (modern systems, elevator, secured parking, sprinklers) but at a much lower price. Property is held as a condo complex, wholly owned, which provides an alternative & potentially more lucrative exit strategy. Cumberland House is a unique opportunity in a prime location.

Additional Information

List Date
2019-08-03 00:00:00
Community
Seaview
Net Operating Income
$295,441
Gross Adjusted Income
$482,973
Gross Scheduled Income
$487,852
Total Monthly Income
$40,654
Insurance Expenses
$10,979
Water/Sewer/Garbage Expenses
$32,410
Gross Rent Multiplier
17
Total Expenses
$187,533
Cap Rate
3.5
Vacancy Rate
1
Total Number of Units
2
Unit Name
5941
Potential Terms
Cash Out, Conventional
Year Built
1989
View
Mountain(s), Sound
Roof
Flat, Metal
Site Features
Cable TV, Deck, Fenced-Partially, Patio, Sprinkler System
Other Expenses
81702
School District
Seattle
Elementary School
Gatewood
Middle School
Madison Mid
High School
West Seattle High
Total Monthly Income
$40,654
Gross Scheduled Income
$487,852
Vacancy Rate
1
Gross Adjusted Income
$482,973
Tax Year
2019
Insurance Expense
$10,979
W/S/G Expenses
$32,410
Total Expenses
$187,533
Net Operating Income
$295,441
Gross Rent Multiplier
17
Cap Rate
3.5
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