6553 42nd Avenue SW, Seattle, WA 98136
- $950,000
- 3,460
- SqFt
Listing courtesy of John L Scott Westwood.
- List Price
- $950,000
- Status
- PENDING
- MLS#
- 2222226
- Days on Market
- 18
- Style
- 54 - 4-Plex
- Finished SqFt
- 3,460
- Area Total SqFt
- 3460
- Annual Tax Ammount
- 8800
- Lot Size (sq ft)
- 6,250
- Sewer
- Sewer Connected
- Offer Review Date
- 2024-04-25
Property Description
Investor Alert! Profitable investment opportunity in the heart of The vibrant Morgan Junction neighborhood of West Seattle. Two 2bed/1bath units on main floor and two 1bed/1bath units on lower level. Large deck w/westerly mountain & sound view. Garage for 2 cars plus off-street parking for 2 more cars. Alley/street access. Walk/bike to everything West Seattle has to offer. 85 walk score. Long-term tenants, low vacancies and low turnover. Significant rental upside as rents are low. The cap rate is currently sitting at 5.62%, but could be higher if an investor wants to upscale the units or get creative with shorter-term (AirBNB), higher rent leases. Zoned LR2 for future development options.
Additional Information
- List Date
- 2024-04-17 01:15:08
- Community
- Gatewood
- Net Operating Income
- $54,370
- Gross Adjusted Income
- $72,000
- Gross Scheduled Income
- $72,000
- Total Monthly Income
- $6,000
- Insurance Expenses
- $2,230
- Water/Sewer/Garbage Expenses
- $6,000
- Gross Rent Multiplier
- 13.19
- Total Expenses
- $17,630
- Cap Rate
- 5.62
- Total Number of Units
- 4
- Unit Name
- 6553
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1963
- View
- Mountain(s), Sound
- Roof
- Composition
- Site Features
- Deck, Fenced-Partially, Patio
- Electric Expenses
- 600
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $6,000
- Gross Scheduled Income
- $72,000
- Gross Adjusted Income
- $72,000
- Tax Year
- 2024
- Insurance Expense
- $2,230
- W/S/G Expenses
- $6,000
- Total Expenses
- $17,630
- Net Operating Income
- $54,370
- Gross Rent Multiplier
- 13.19
- Cap Rate
- 5.62
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