8836 SW 9th Avenue, Seattle, WA 98106
- $1,150,000
- 2,696
- SqFt
Listing courtesy of Blake Investment Advisors.
- List Price
- $1,150,000
- Status
- ACTIVE
- MLS#
- 2145946
- Days on Market
- 293
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 2,696
- Area Total SqFt
- 2696
- Annual Tax Ammount
- 8231
- Lot Size (sq ft)
- 4,580
- Sewer
- Available
Property Description
A value-add opportunity to acquire a partially renovated 4plex in the West Seattle neighborhood, Highland Park. The subject consists of two one bed and two two-bedroom apartments. The one beds were fully renovated in 2023 and achieved a 42% rent increase. The same upside is available for the two beds, a $60K renovation budget will produce a $703 increase in rent per unit, delivering a 28% return on investment in the first year. This is an excellent opportunity for an astute investor to create value in an asset that's poised for growth in the future. The subject is in the path of progress as two new townhome developments were built and sold in the last few years. This street is attracting capital and a new investor can catch this wave.
Additional Information
- List Date
- 2023-07-16 16:58:08
- Community
- Highland Park
- Net Operating Income
- $49,252
- Gross Adjusted Income
- $65,562
- Gross Scheduled Income
- $66,900
- Total Monthly Income
- $5,975
- Insurance Expenses
- $1,881
- Water/Sewer/Garbage Expenses
- $5,970
- Total Expenses
- $21,110
- Cap Rate
- 4.3
- Vacancy Rate
- 2
- Total Number of Units
- 4
- Unit Name
- 8836
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1980
- Roof
- Torch Down
- Site Features
- Deck, Fenced-Fully, Fenced-Partially, Patio
- Other Expenses
- 5028
- Energy Source
- Electric
- School District
- Seattle
- Elementary School
- Highland Park
- High School
- Sealth High
- Total Monthly Income
- $5,975
- Gross Scheduled Income
- $66,900
- Vacancy Rate
- 2
- Gross Adjusted Income
- $65,562
- Tax Year
- 2022
- Insurance Expense
- $1,881
- W/S/G Expenses
- $5,970
- Total Expenses
- $21,110
- Net Operating Income
- $49,252
- Cap Rate
- 4.3
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