8008 Greenwood Avenue N

Seattle, Washington WA98103

Built in 1929, the Monterey apartments offers classic brick construction with old world charm and beautiful hardwood floors. Zoned NC2P– 55 (m) the Monterey Apartments offers the ability to convert the 2 street level apartments into either office space or retail space. The building has a large storage area and laundry room which could be reconfigured to add a unit. In addition to converting the ground units to either retail or office space the Monterey offers additional upside by increasing rents to market levels or renovating units to today’s standards for even higher returns. This investment is a great opportunity for a prospective investor to own a classic brick building in an A+ location.

About This Property

Listing ID1941961
SqFt 7,310
Acres 0.096
Year Built1929
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Greenwood
Year Built 1929
Building Area Units Square Feet
Flooring Hardwood
Furnished Unfurnished
Heating Cooling Type Radiator
Interior Features Radiator, Hardwood
Living Area Units Square Feet
Stories Total 3
Elevation Units Feet
Exterior Features Brick
Foundation Details Poured Concrete
Lot Size Square Feet 4179
Lot Size Units Square Feet
MLS Lot Size Source Public Records
Number Of Units Total 13
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 13
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 23750
Building Area Total 7310
Country US
High School District Seattle
MLS Area Major 705 - Ballard/Greenlak
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Amenities Coin Op Laundry
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 yes
Cap Rate 3.35
Gross Adjusted Income 204817
Gross Rent Multiplier 18
Gross Scheduled Income 211152
Insurance Expense 2945
Leasable Area 7310
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 129061
Other Expense 22392
Possession Closing, Tenant's Rights
Sale Type MLS
Seller Disclosure Provided
Special Listing Conditions None
Tax Annual Amount 26669
Tax Year 2022
Total Expenses 75756
Total Monthly Income 17596
Vacancy Rate 3

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8008 Greenwood 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: Thursday, July 7th, 2022 09:52:44 AM.
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