3845 Beach Drive SW, Seattle, WA 98116

$1,120,000
1,640
SqFt

Listing courtesy of Windermere Real Estate Co.. Selling Office: Redfin Corp..

Sold Price
$1,120,000
List Price
$1,145,000
Status
SOLD
MLS#
1625392
Closing Date
Mar 30, 2021
Days on Market
101
Style
52 - Duplex
Building Condition
Fair
Finished SqFt
1,640
Area Total SqFt
1640
Annual Tax Ammount
12767
Lot Size (sq ft)
9,504
Sewer
Sewer Connected

Property Description

Rarely available waterfront investment. Prime Seattle property at the water’s edge with uninterrupted sunset views 40 waterfront feet, LR3 zoning, on serene Beach Drive with level access steps to Alki Beach. Multiple attractive investment/development opportunities: the existing vintage duplex rentals could be leased as is, renovated, or replaced with your choice of single-family homes or luxury waterfront townhouses; feasibility studies included. Adjacent property, 60 waterfront feet, available.

Additional Information

List Date
2020-12-19 00:00:00
Community
Alki
Net Operating Income
$32,700
Gross Adjusted Income
$50,730
Gross Scheduled Income
$53,400
Total Monthly Income
$53,400
Insurance Expenses
$685
Water/Sewer/Garbage Expenses
$1,499
Gross Rent Multiplier
21
Total Expenses
$18,030
Cap Rate
2.86
Vacancy Rate
5
Total Number of Units
4
Unit Name
3845
Potential Terms
Cash Out, Conventional
Year Built
1908
Waterfront
Yes
View
Mountain(s), See Remarks, Sound, Territorial
Roof
Composition
Site Features
Cable TV, Deck, Gas Available, High Speed Internet, Hot Tub/Spa, Patio
Electric Expenses
2164
Other Expenses
915
Energy Source
Electric
School District
Seattle
Elementary School
Alki
Middle School
Madison Mid
High School
West Seattle High
Total Monthly Income
$53,400
Gross Scheduled Income
$53,400
Vacancy Rate
5
Gross Adjusted Income
$50,730
Tax Year
2020
Insurance Expense
$685
W/S/G Expenses
$1,499
Total Expenses
$18,030
Net Operating Income
$32,700
Gross Rent Multiplier
21
Cap Rate
2.86
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