11515 26th Avenue NE

Seattle, Washington WA98125

The Melinda Arms is a 15 unit apartment building built in 1968. Located in the Lake City neighborhood of North Seattle, the building is a mere 1.4 miles to the recently opened Northgate Light Rail Station and 2.3 Miles to the University of Washington. The building has a 1:1 parking ratio and is steps from the King County Rapid Ride Transit Line. The property has all electric heat and appliances as well as a common laundry facility for tenant convenience. The building interiors are mainly original and presents a great value add play for a prospective investor.

About This Property

Listing ID1850773
SqFt 12,110
Acres 0.257
Year Built1968
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Seattle
Year Built 1968
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Baseboard
Living Area Units Square Feet
Stories Total 3
Carport Spaces 3
Elevation Units Feet
Exterior Features Stucco
Lot Size Square Feet 11200
Lot Size Units Square Feet
MLS Lot Size Source King County
Number Of Units Total 15
Open Parking Spaces 12
Parking Total 15
Parking Uncovered Spaces 12
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 18440
Building Area Total 12110
Country US
High School District Seattle
MLS Area Major 710 - North Seattle
Waterfront no
Zoning Jurisdiction City
First Right Of Refusal no
Mls Status Active
Offers Seller intends to review offers upon receipt
Power Production Type Electric
Preliminary Title Ordered yes
Cap Rate 4
Gross Adjusted Income 200688
Gross Rent Multiplier 15
Gross Scheduled Income 209050
Insurance Expense 4493
Leasable Area 12110
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 131991
Other Expense 15677
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 30087
Tax Year 2021
Total Expenses 68697
Total Monthly Income 17421
Vacancy Rate 4

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11515 26th Avenue NE Seattle, WA 98125

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The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. The information contained in this listing has not been verified by WPI Real Estate Services, Inc. (7101) and should be verified by the buyer. © 2021 NWMLS. All rights reserved. Data last updated: Sunday, October 24th, 2021 08:36:02 AM.
Active Listing courtesy of Paragon Real Estate Advisors
Active Listing courtesy of Paragon Real Estate Advisors
Active Listing courtesy of Paragon Real Estate Advisors
Data services provided by IDX Broker