Closed
$2,950,000
Sold For
6,750
SqFt
6,750
SqFt

518 N 43rd Street  1-10

Seattle, Washington WA98103

Located on a corner lot in Seattle’s desirable Fremont neighborhood, the Sunnyside Apartments is a value-add apartment community featuring seller financing (to a qualified buyer) and priced at less than $300,000 per unit. With an excellent unit mix of nine one-bedroom units and one three-bedroom unit, the Sunnyside offers tenants spacious open floor plans, ample closet space, and views from select units. While profitable in its current operations, a new operator could likely achieve income upside of approximately 11% with turnover and basic unit remodels. With a more robust value-add strategy that includes updating cabinets and flooring, income could possibly be increased by even more.

About This Property

Listing ID1853559
Sold For$2,950,000
StatusClosed
Sold Date12/01/2021
SqFt 6,750
Acres 0.172
CountyKing
SubdivisionFremont
Year Built1963
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Fremont
Year Built 1963
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Baseboard, Forced Air
Interior Features Forced Air
Living Area Units Square Feet
Stories Total 3
Carport Spaces 3
Elevation Units Feet
Exterior Features Brick, Cement/Concrete, Stucco
Lot Features Corner Lot, Curbs, Paved, Sidewalk
Lot Size Square Feet 7500
Lot Size Units Square Feet
MLS Lot Size Source county records
Number Of Units Total 10
Open Parking Spaces 4
Parking Total 7
Parking Uncovered Spaces 4
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 10
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 10142
Water Source Public
Building Area Total 6750
Country US
Elementary School Bf Day
High School Lincoln High
High School District Seattle
Middle Or Junior School Hamilton Mid
MLS Area Major 705 - Ballard/Greenlak
View City, Partial
Waterfront no
Zoning Class Multi-Family
Amenities Coin Op Laundry,Storage,Thermal Windows
Green Energy Efficient Thermal Windows
Mls Status Sold
Offers Seller will review offers on Offer Review Date (may review/accept sooner)
Possible Use Multi-Family
Power Production Type Electric
Preliminary Title Ordered yes
Buyer Financing Not Disclosed
Cap Rate 4.2
Gross Adjusted Income 182592
Gross Rent Multiplier 16
Gross Scheduled Income 190200
Insurance Expense 5960
Leasable Area 6123
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 125212
Other Expense 17129
Possession Closing, Tenant's Rights
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 24149
Tax Year 2021
Total Expenses 57380
Vacancy Rate 4

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518 N 43rd Street #1-10 Seattle, WA 98103

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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, December 5th, 2021 10:17:27 PM.
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