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.
Listing ID1850773
Sold For$3,250,000
StatusClosed
Sold Date5/02/2022
SqFt
12,110
Acres
0.257
CountyKing
SubdivisionSeattle
Year Built1968
Property TypeResidential Income
Property Sub TypeMulti-Family
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
Sold
Offers
Seller intends to review offers upon receipt
Power Production Type
Electric
Preliminary Title Ordered
yes
Show Map Link
yes
Buyer Financing
Not Disclosed
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
11515 26th Avenue NE Seattle, WA 98125
Based on information submitted to the MLS GRID as of Friday, March 29th, 2024 01:38:47 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
#IDX-primaryPhoto,#idx-details-headerClosed
Closed Listing courtesy of Paragon Real Estate Advisors
Listing sold by Paragon Real Estate Advisors
#IDX-listingMediaLinksClosed
Closed Listing courtesy of Paragon Real Estate Advisors
Listing sold by Paragon Real Estate Advisors