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.
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
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
Show Map Link
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
3421 14th Avenue W Seattle, WA 98119
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