Active
$2,700,000
Price
7,468
SqFt
7,468
SqFt

3421 14th Avenue W

Seattle, Washington WA98119

Positioned in Seattle’s desirable North Queen Anne neighborhood, Posada 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. Posada Apartments’ 11 units offer a new investor the likely opportunity for significant upside in the form of increased rents and monthly charges for laundry, utilities, and parking, as well as the option to build out one down unit to begin collecting even more rent. With desirable features including nine parking spaces, on-site laundry, storage, and several remodeled units, Posada Apartments is an excellent investment opportunity.

About This Property

Listing ID1947835
Price$2,700,000
StatusActive
SqFt 7,468
Acres 0.207
CountyKing
SubdivisionQueen Anne
Year Built1945
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Queen Anne
Year Built 1945
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Baseboard, Forced Air
Interior Features Forced Air
Living Area Units Square Feet
Stories Total 2
Elevation Units Feet
Exterior Features Metal/Vinyl, Wood
Foundation Details Poured Concrete, Slab
Lot Features Alley, Curbs, Paved, Sidewalk
Lot Size Square Feet 9000
Lot Size Units Square Feet
MLS Lot Size Source county
Number Of Units Total 11
Open Parking Spaces 9
Parking Total 9
Parking Uncovered Spaces 9
Roof Composition, Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 11
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 12232
Water Source Public
Building Area Total 7468
Building Name Posada 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
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Amenities Coin Op Laundry,Storage,Thermal Windows
Green Energy Efficient Thermal Windows
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 3.2
Gross Adjusted Income 156192
Gross Rent Multiplier 16
Gross Scheduled Income 164413
Insurance Expense 7500
Leasable Area 5394
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 85870
Other Expense 29294
Possession Closing, Tenant's Rights
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 21296
Tax Year 2022
Total Expenses 70322
Total Monthly Income 13701
Vacancy Rate 5

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3421 14th Avenue W 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 09:52:44 AM.
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