612 Malden Avenue E

Seattle, Washington WA98112

JUST LISTED: Malden Apartments on Capitol Hill. This classic 1907 built 7-unit apartment provides investors with a value-add deal in-which all of the heavy lifting is already taken care of. Five out of the seven units have been fully renovated with stainless steel appliances, flooring and washer/dryer but are still 17% below market rents. Located directly next to 15th Ave, Malden is an ideal location for investors looking for property right in the thick of Seattle but in a very quiet residential charming neighborhood outside of the busy Pike-Pine corridor. $130,000 has already been spent on the exterior and common area renovations and up to $60,000 spent on an individual unit renovations. Rents and financials are actuals.

About This Property

Listing ID1940036
SqFt 6,200
Acres 0.119
SubdivisionCapitol Hill
Year Built1907
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Price Before Reduction 2950000
Price Reduction Date 2022-06-22T17:30:23+00:00
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Capitol Hill
Year Built 1907
Building Area Units Square Feet
Flooring Hardwood, Vinyl
Furnished Unfurnished
Heating Cooling Type Baseboard
Interior Features Hardwood
Living Area Units Square Feet
Stories Total 3
Elevation Units Feet
Exterior Features Brick, Wood
Foundation Details Poured Concrete
Lot Features Curbs, Sidewalk
Lot Size Dimensions 5188
Lot Size Square Feet 5188
Lot Size Units Square Feet
MLS Lot Size Source King County Parcel Viewer
Number Of Units Total 7
Open Parking Spaces 4
Parking Total 4
Parking Uncovered Spaces 4
Roof See Remarks
Sewer Sewer Connected
Sewer Company SPU
Structure Type Multi Family
Style Code 55 - 5-9 Units
Units Below Grade false
Units In Building Total 7
Utilities Sewer Connected, Electricity Available
Water Company SPU
Water Sewer Garbage 13583
Building Area Total 6200
Country US
High School District Seattle
MLS Area Major 390 - Central Seattle
View City
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Amenities Basement,Coin Op Laundry
Effective Year Built Source Public Records
First Right Of Refusal no
Mls Status Active
Offers Seller will review offers on Offer Review Date (may review/accept sooner)
Possible Use Multi-Family
Power Company Seattle City Light
Power Production Type Electric
Preliminary Title Ordered yes
SOC Comments 2%
Year Built Effective 2021
Cap Rate 3.2
Gross Adjusted Income 159359
Gross Rent Multiplier 31
Gross Scheduled Income 182408
Insurance Expense 4962
Leasable Area 6200
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 93611
Other Expense 47292
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 23049
Tax Year 2022
Total Expenses 88886
Total Monthly Income 14762
Vacancy Rate 2

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612 Malden Avenue E Seattle, WA 98112

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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.
Active Listing courtesy of Kidder Mathews
Active Listing courtesy of Kidder Mathews
Active Listing courtesy of Kidder Mathews
Data services provided by IDX Broker