Closed
$1,050,000
Sold For
3,380
SqFt
3,380
SqFt

12315 35th Street NE

Seattle, Washington WA98125

This mid-century building offers large units with in-unit laundry and substantial upside through renovations and rent increases. The building is located on a 5,300SF lot zoned LR3 with significant development potential. This offering presents the rare opportunity to purchase a well maintained classic building with a considerable value-add opportunity in one of the nation’s fastest growing markets.

About This Property

Schools


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Overview

Listing ID1871474
Sold For$1,050,000
StatusClosed
Sold Date3/09/2022
SqFt 3,380
Acres 0.122
CountyKing
SubdivisionLake City
Year Built1960
Property TypeResidential Income
Property Sub TypeMulti-Family

Primary Features

County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Lake City
Year Built 1960

Interior

Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Baseboard
Living Area Units Square Feet
Stories Total 2

External

Elevation Units Feet
Exterior Features Wood
Lot Size Square Feet 5300
Lot Size Units Square Feet
MLS Lot Size Source King County
Number Of Units Total 3
Open Parking Spaces 5
Parking Total 5
Parking Uncovered Spaces 5
Roof Built-Up
Sewer Available
Structure Type Triplex
Style Code 53 - Tri-plex
Units Below Grade true
Units In Building Total 3
Utilities Electricity Available
Water Sewer Garbage 8693

Location

Building Area Total 3380
Country US
High School District Seattle
MLS Area Major 710 - North Seattle
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City

Additional

Effective Year Built Source Public Records
First Right Of Refusal no
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 no
Year Built Effective 1960

Financial

Buyer Financing Not Disclosed
Cap Rate 4.99
Gross Adjusted Income 70110
Gross Rent Multiplier 13
Gross Scheduled Income 73800
Insurance Expense 1200
Leasable Area 3380
Leasable Area Units Square Feet
Leased Items Washer/Dryer
Net Operating Income 49641
Other Expense 3750
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 6826
Tax Year 2021
Total Expenses 20469
Total Monthly Income 6150
Vacancy Rate 5

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12315 35th Street NE Seattle, WA 98125

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Based on information submitted to the MLS GRID as of Tuesday, April 16th, 2024 09:38:39 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.
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