2442 8th Avenue N

Seattle, Washington WA98109

Tara Apts features 24 Lake Union facing units w/ stunning views overlooking Gasworks Park, downtown & University Bridge. 4 spacious 2-bed/2-bath units & 20 1-bed/1-bath units. Each unit has a large private balcony and oversized windows. Unique, high-quality investment w/ breathtaking Lake Union views. The building has been carefully maintained to this day. Plumbing is copper, the roof and vertical drain lines were replaced in 2011. There are currently 8 laundry / storage rooms which could be consolidated into private W/D & additional net rentable square footage. This is a rare opportunity for investors to acquire a well-maintained building w/ unrivaled lake vistas and significant reposition upside in the heart of Seattle’s tech corridor.

About This Property

Listing ID1995801
SqFt 17,680
Acres 0.520
Year Built1964
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Westlake
Year Built 1964
Building Area Units Square Feet
Flooring Vinyl Plank, Carpet
Furnished Unfurnished
Heating Cooling Type Baseboard, Wall
Interior Features Wall to Wall Carpet
Living Area Units Square Feet
Stories Total 4
Elevation Units Feet
Exterior Features Cement/Concrete, Wood
Foundation Details Post & Pillar
Lot Features Paved
Lot Size Square Feet 22650
Lot Size Units Square Feet
MLS Lot Size Source Parcel Viewer
Number Of Units Total 24
Open Parking Spaces 17
Parking Total 17
Parking Uncovered Spaces 17
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 24
Utilities High Speed Internet, Sewer Connected, Electricity Available
Water Sewer Garbage 26400
Water Source Public
Building Area Total 17680
Country US
High School District Seattle
MLS Area Major 700 - Queen Anne/Magno
View City, Lake, Mountain(s), Territorial
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction County
Amenities Coin Op Laundry,Storage,Thermal Windows
Effective Year Built Source Public Records
First Right Of Refusal no
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
Property Condition Good
Site Features High Speed Internet, Patio
Year Built Effective 1990
Cap Rate 5.2
Gross Adjusted Income 709248
Gross Rent Multiplier 14.1
Gross Scheduled Income 708000
Insurance Expense 11342
Leasable Area 17680
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 519374
Other Expense 76178
Possession Closing
Sale Type MLS
Seller Disclosure Provided
Special Listing Conditions None
Tax Annual Amount 75974
Tax Year 2022
Total Expenses 189894
Total Monthly Income 59000
Vacancy Rate 5

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2442 8th Avenue N Seattle, WA 98109

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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: Tuesday, October 4th, 2022 05:26:42 PM.
Active Listing courtesy of Lee & Associates Commercial RE
Active Listing courtesy of Lee & Associates Commercial RE
Active Listing courtesy of Lee & Associates Commercial RE
Data services provided by IDX Broker