Active
$4,250,000
Price
8,580
SqFt
8,580
SqFt

114 12th Avenue E

Seattle, Washington WA98102

The building sits on a large 9,600 square foot lot and has tremendous street appeal due to the large lawn and courtyard setting. The unit mix is (2) one-bedroom, one-bath apartments and (8) two-bedroom, one-bathroom apartments. Each unit has a spacious layout with hardwood floors and the units receive great natural light. There is rental upside to be captured in this property, as rents are currently about 15% below market. Additionally, there are six garage parking stalls for tenants, which provides further rental upside given the limited parking in Capitol Hill. 10 storage units are available for tenants use.

About This Property

Listing ID1937742
Price$4,250,000
StatusActive
SqFt 8,580
Acres 0.220
CountyKing
SubdivisionCapitol Hill
Year Built1952
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Capitol Hill
Year Built 1952
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Baseboard
Living Area Units Square Feet
Stories Total 2
Covered Spaces 6
Elevation Units Feet
Exterior Features Stone
Lot Size Square Feet 9600
Lot Size Units Square Feet
MLS Lot Size Source King County
Number Of Units Total 11
Parking Total 6
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 19150
Building Area Total 8580
Country US
High School District Seattle
MLS Area Major 390 - Central Seattle
Waterfront no
Mls Status Active
Offers Seller intends to review offers upon receipt
Power Production Type Electric
Preliminary Title Ordered yes
Cap Rate 4.21
Gross Adjusted Income 248645
Gross Rent Multiplier 16.24
Gross Scheduled Income 261732
Insurance Expense 4800
Leasable Area 8580
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 179018
Other Expense 14989
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 30688
Tax Year 2022
Total Expenses 69627
Total Monthly Income 21811
Vacancy Rate 5

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114 12th Avenue E Seattle, WA 98102

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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: Thursday, July 7th, 2022 09:52:44 AM.
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