Active
$2,575,000
Price
7,125
SqFt
7,125
SqFt

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.

About This Property

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
County King
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
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

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1401 W Bertona Street #1-8 Seattle, WA 98119

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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 08:51:33 AM.
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