7023 16th Avenue, Seattle, WA 98106
- $1,500,000
- 3,300
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $1,500,000
- Status
- ACTIVE
- MLS#
- 2219545
- Days on Market
- 33
- Style
- 55 - 5-9 Units
- Finished SqFt
- 3,300
- Area Total SqFt
- 3300
- Annual Tax Ammount
- 6940
- Lot Size (sq ft)
- 5,368
- Sewer
- Sewer Connected
Property Description
9 Bedroom Rooming house within walking distance of South Seattle College. This remodeled 9 unit rooming house has 8 individual rooms with a 1bedroom 1 bath. All units have their own individual bathroom and share a common kitchen & laundry. Walking distance to South Seattle College makes this an ideal location. Each unit has enough space to comfortably fit a bed, fridge, tv, desk, and more. Market cap rate is a 6.4%. Building is completely vacant allowing an investor to pick their own tenants. Location is only 13 minutes from downtown, minutes from the Junction and only 10 minutes away from Alki beach. This is great investment in a growing neighborhood! Matterport link available for tours.
Additional Information
- List Date
- 2024-04-05 19:38:09
- Community
- Belvidere
- Net Operating Income
- $95,561
- Gross Adjusted Income
- $133,458
- Gross Scheduled Income
- $123,600
- Total Monthly Income
- $109,675
- Insurance Expenses
- $4,500
- Water/Sewer/Garbage Expenses
- $3,000
- Gross Rent Multiplier
- 15
- Total Expenses
- $37,898
- Cap Rate
- 6.4
- Vacancy Rate
- 4
- Total Number of Units
- 9
- Unit Name
- 7023
- Potential Terms
- Conventional
- Year Built
- 2013
- View
- Mountain(s), Territorial
- Roof
- Composition
- Site Features
- Fenced-Partially
- Electric Expenses
- 2100
- Other Expenses
- 18358
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $109,675
- Gross Scheduled Income
- $123,600
- Vacancy Rate
- 4
- Gross Adjusted Income
- $133,458
- Tax Year
- 2024
- Insurance Expense
- $4,500
- W/S/G Expenses
- $3,000
- Total Expenses
- $37,898
- Net Operating Income
- $95,561
- Gross Rent Multiplier
- 15
- Cap Rate
- 6.4
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