8523 23rd Avenue NE  1-4

Seattle, Washington WA98115

Opportunity knocks in Wedgewood. Well maintained 4 plex with opportunity. Market rents total $9,100/mo+, =4.4%+ CAP. Two, 2 bedroom / 1 bath flats & Two, 2 bedroom 1.5 bath townhouse units. Units have various updates, full kitchens with dishwashers, keyless entry & mini-split HVAC systems offering energy efficient heat & AC! Coin op laundry room for supplemental income. 7 parking spots. Surrounded by endless amenities, explosive growth & redevelopment. Easy access to Ravenna Ave, Lake City Way, I-5 and just 5 minutes to light rail. Turn key investment opportunity. Current Zone: LR2 (M) offers future value add opportunities.

About This Property

Listing ID1873622
SqFt 3,800
Acres 0.144
Year Built1970
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Wedgwood
Year Built 1970
Building Area Units Square Feet
Flooring Ceramic Tile, Laminate, Laminate, Carpet
Furnished Unfurnished
Heating Cooling Type Central A/C, Ductless HP-Mini Split, Wall
Interior Features Central A/C, Ductless HP-Mini Split, Ceramic Tile, Laminate Hardwood, Laminate Tile, Wall to Wall Carpet
Living Area Units Square Feet
Stories Total 2
Elevation Units Feet
Exterior Features Wood
Foundation Details Poured Concrete
Lot Features Paved, Value In Land
Lot Size Square Feet 6260
Lot Size Units Square Feet
MLS Lot Size Source Realist
Number Of Units Total 4
Open Parking Spaces 7
Parking Total 7
Parking Uncovered Spaces 7
Roof Composition
Sewer Sewer Connected
Sewer Company Seattle Public Utilities
Structure Type Quadruplex
Style Code 54 - 4-Plex
Units Below Grade false
Units In Building Total 4
Utilities Cable Connected, High Speed Internet, Sewer Connected, Electricity Available
Water Company Seattle Public Utilities
Water Sewer Garbage 8400
Water Source Public
Building Area Total 3800
Country US
Elementary School Wedgwood
High School Nathan Hale High
High School District Seattle
Middle Or Junior School Eckstein Mid
MLS Area Major 710 - North Seattle
View Territorial
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Amenities Coin Op Laundry
Mls Status Active
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Company Seattle City Light
Power Production Type Electric
Preliminary Title Ordered yes
Site Features Cable TV, Deck, High Speed Internet
Cap Rate 4
Electric Expense 1200
Gross Adjusted Income 101559
Gross Rent Multiplier 19
Gross Scheduled Income 104700
Insurance Expense 1711
Leasable Area 3800
Leasable Area Units Square Feet
Leased Items Washer/Dryer
Net Operating Income 78859
Possession Tenant's Rights
Sale Type MLS
Seller Disclosure Provided
Special Listing Conditions None
Tax Annual Amount 10807
Tax Year 2021
Total Expenses 22118
Total Monthly Income 8725
Vacancy Rate 3

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8523 23rd Avenue NE #1-4 Seattle, WA 98115

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Active Listing courtesy of KW Everett
Active Listing courtesy of KW Everett
Active Listing courtesy of KW Everett
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