840 NW 62nd Street

Seattle, Washington WA98107

The buildings have been built and managed by the same family for the past 34 years. The offering includes two adjacent fourplexes with eight large 1BD/1BTH - 691 Sq. Ft. units all with their own patio or balcony, six units with wood-burning fireplaces, and eight tuck-under parking stalls. The buildings have been meticulously maintained over the years including the most recent capital expenditures of new roofs in 2015 and new exterior paint in 2016. The buildings have been built on two separate tax parcels. The offering presents an add-value opportunity for prospective buyers to make interior unit improvements and capitalize on the rental upside available.

About This Property

Listing ID1876596
SqFt 5,528
Acres 0.172
Year Built1987
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Ballard
Year Built 1987
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Forced Air
Interior Features Forced Air
Living Area Units Square Feet
Stories Total 2
Carport Spaces 8
Elevation Units Feet
Exterior Features Wood
Lot Size Square Feet 7500
Lot Size Units Square Feet
MLS Lot Size Source King County
Number Of Units Total 8
Parking Total 8
Roof Composition
Sewer Sewer Connected
Structure Type Multi Family
Style Code 55 - 5-9 Units
Units Below Grade false
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 7866
Building Area Total 5528
Country US
High School District Seattle
MLS Area Major 705 - Ballard/Greenlak
Waterfront no
Mls Status Pending
Offers Seller intends to review offers upon receipt
Power Production Type Electric
Preliminary Title Ordered yes
Cap Rate 4
Gross Adjusted Income 152053
Gross Rent Multiplier 17
Gross Scheduled Income 156756
Insurance Expense 2800
Leasable Area 5528
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 107591
Other Expense 8000
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 25796
Tax Year 2022
Total Expenses 44462
Total Monthly Income 13063
Vacancy Rate 3

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840 NW 62nd Street Seattle, WA 98107

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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