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

Listing ID1871474
SqFt 3,380
Acres 0.122
SubdivisionLake City
Year Built1960
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Lake City
Year Built 1960
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Baseboard
Living Area Units Square Feet
Stories Total 2
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
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
Effective Year Built Source Public Records
First Right Of Refusal no
Mls Status Pending Inspection
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
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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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. © 2022 NWMLS. All rights reserved. Data last updated: Saturday, January 22nd, 2022 09:03:14 PM.
Pending Listing courtesy of Paragon Real Estate Advisors
Pending Listing courtesy of Paragon Real Estate Advisors
Pending Listing courtesy of Paragon Real Estate Advisors
Data services provided by IDX Broker