1401 W Bertona Street
1-8
Seattle,
Washington WA98119
Positioned in Seattle’s desirable North Queen Anne neighborhood, Fairseas Apartments is within walking distance of Seattle Pacific University and is an easy commute to South Lake Union and Downtown Seattle with their many prestigious employers. Fairseas' Apartments’ 8 units offer a new investor the likely opportunity for meaningful upside in the form of increased rents, charging for parking, and increased monthly charges for laundry and utilities. With desirable features including 13 parking spaces, on-site laundry, storage, and several remodeled units, combined with its North Queen Anne location and income and management upside, the Fairseas Apartments is an excellent investment opportunity.
Listing ID1947804
Price$2,575,000
StatusActive
SqFt
7,125
Acres
0.193
CountyKing
SubdivisionQueen Anne
Year Built1925
Property TypeResidential Income
Property Sub TypeMulti-Family
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Queen Anne
Year Built
1925
Building Area Units
Square Feet
Furnished
Unfurnished
Heating Cooling Type
Baseboard, Forced Air
Interior Features
Forced Air
Living Area Units
Square Feet
Stories Total
3
Elevation Units
Feet
Exterior Features
Brick, Metal/Vinyl, Wood
Lot Features
Alley, Curbs, Paved, Sidewalk
Lot Size Square Feet
8400
Lot Size Units
Square Feet
MLS Lot Size Source
county records
Number Of Units Total
8
Open Parking Spaces
13
Parking Total
13
Parking Uncovered Spaces
13
Roof
Flat
Sewer
Sewer Connected
Structure Type
Multi Family
Style Code
56 - 10+ Units
Units Below Grade
false
Units In Building Total
8
Utilities
Sewer Connected, Electricity Available
Water Sewer Garbage
9071
Water Source
Public
Building Area Total
7125
Building Name
Fairseas Apartments
Country
US
Elementary School
Frantz Coe Elementary
High School
Lincoln High
High School District
Seattle
Middle Or Junior School
Mc Clure Mid
MLS Area Major
700 - Queen Anne/Magno
View
Partial, Territorial
Waterfront
no
Zoning Class
Multi-Family
Zoning Jurisdiction
City
Amenities
Coin Op Laundry,Storage
Mls Status
Active
Offers
Seller intends to review offers upon receipt
Possible Use
Multi-Family
Power Production Type
Electric
Preliminary Title Ordered
yes
Show Map Link
yes
Cap Rate
3.1
Gross Adjusted Income
142488
Gross Rent Multiplier
17
Gross Scheduled Income
149515
Insurance Expense
6800
Leasable Area
6550
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
79483
Other Expense
25600
Possession
Closing, Tenant's Rights
Sale Type
MLS
Seller Disclosure
Not Provided
Special Listing Conditions
None
Tax Annual Amount
21534
Tax Year
2022
Total Expenses
63005
Total Monthly Income
12460
Vacancy Rate
5
1401 W Bertona Street #1-8 Seattle, WA 98119
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 08:51:33 AM.
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