8541 Phinney Avenue N

Seattle, Washington WA98103

The James Bon Apartments is a 13-unit apartment complex (12 plus one-nonconforming studio) located in the popular urban hub of 85th and Greenwood. The property has a large, underutilized basement that was permitted to add two 580 SQFT 1x1 units in 2018. Permits have since expired, but the building offers a great value add component with the ability to add at least two units and possibly 3-4 (Buyer to Verify) to the current blueprint. Several units have been remodeled with modern finishes including luxury vinyl flooring, new cabinetry, counter tops, appliances etc… The property also boasts an oversized 11,538 SQFT Lot zoned NC2-65 (M1) Urban Village (no parking requirement) for future development potential.

About This Property

Listing ID1876199
SqFt 11,538
Acres 0.265
Year Built1979
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Greenwood
Year Built 1979
Building Area Units Square Feet
Flooring See Remarks
Furnished Unfurnished
Heating Cooling Type Baseboard
Living Area Units Square Feet
Stories Total 1
Elevation Units Feet
Exterior Features See Remarks
Foundation Details See Remarks
Lot Size Square Feet 11538
Lot Size Units Square Feet
MLS Lot Size Source Public Records
Number Of Units Total 13
Open Parking Spaces 13
Parking Total 13
Parking Uncovered Spaces 13
Roof See Remarks
Sewer Available
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade true
Units In Building Total 13
Utilities Electricity Available
Water Sewer Garbage 17481
Building Area Total 11538
Country US
High School District Seattle
MLS Area Major 705 - Ballard/Greenlak
View See Remarks
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction County
Amenities See Remarks
Effective Year Built Source Public Records
First Right Of Refusal no
Mls Status Active
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Production Type Electric
Preliminary Title Ordered no
Property Condition Very Good
Year Built Effective 1979
Cap Rate 3
Gross Adjusted Income 200708
Gross Rent Multiplier 18
Gross Scheduled Income 211272
Insurance Expense 3432
Leasable Area 8262
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 126458
Other Expense 26570
Possession See Remarks
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 26768
Tax Year 2021
Total Expenses 74251
Total Monthly Income 17606
Vacancy Rate 5

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8541 Phinney Avenue N 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. © 2022 NWMLS. All rights reserved. Data last updated: Saturday, January 22nd, 2022 10:04:15 PM.
Active Listing courtesy of Paragon Real Estate Advisors
Active Listing courtesy of Paragon Real Estate Advisors
Active Listing courtesy of Paragon Real Estate Advisors
Data services provided by IDX Broker