Active
$5,350,000
Price
9,583
SqFt
9,583
SqFt

303 Harvard Avenue E

Seattle, Washington WA98102

BEVERLY RAE APARTMENTS is a 14-unit, well maintained apartment community in the heart of Seattle’s Capitol Hill Neighborhood. Residents benefit from a highly walkable, trendy neighborhood with numerous surrounding restaurants, coffee shops, and daily-needs grocery and retail. The property is well-located, sitting on Harvard Ave E near Olive Way, which allows tenants direct access to the Interstate-5 on-ramps. The Property has an attractive brick exterior, newer roof, and includes 8 parking stalls. The Beverly Rae Apartments offers several unique value-add strategies that will allow for potential Buyers to drastically improve their Net Operating Income, while also reducing their basis in this asset.

About This Property

Listing ID1972680
Price$5,350,000
StatusActive
SqFt 9,583
Acres 0.174
CountyKing
SubdivisionCapitol Hill
Year Built1949
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Capitol Hill
Year Built 1949
Building Area Units Square Feet
Furnished Unfurnished
Heating Cooling Type Hot Water Recirc Pump
Interior Features Hot Water Recirc Pump
Living Area Units Square Feet
Stories Total 3
Elevation Units Feet
Exterior Features Brick, Cement/Concrete
Lot Size Square Feet 7557
Lot Size Units Square Feet
MLS Lot Size Source County Accessor
Number Of Units Total 14
Parking Total 8
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 14
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 26690
Building Area Total 9583
Country US
High School District Seattle
MLS Area Major 390 - Central Seattle
Waterfront no
Amenities Coin Op Laundry
Mls Status Active
Offers Seller intends to review offers upon receipt
Power Production Type Electric
Preliminary Title Ordered no
Cap Rate 3
Gross Adjusted Income 262131
Gross Rent Multiplier 19.86
Gross Scheduled Income 269400
Insurance Expense 5453
Leasable Area 10300
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 162884
Other Expense 30607
Possession See Remarks
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 36497
Tax Year 2021
Total Expenses 99247
Total Monthly Income 22452
Vacancy Rate 5

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303 Harvard Avenue E Seattle, WA 98102

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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: Monday, August 8th, 2022 08:01:20 PM.
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