Seattle,
Washington WA98102
Aldora Apartments is a handsome 15-Unit brick veneer apartment building, beaming with timeless character, and ideally located in one of Seattle’s most sought-after neighborhoods. It features 15 large one-bedroom apartment units with amazing territorial views of Lake Union and Seattle. Aldora offers investors a tremendous opportunity to increase income by over 40% after light cosmetic unit updates, and capitalize on further upside by adding a 16th unit to the daylight basement and adding two large townhomes to alley-accessed parking lot. Aldora has been meticulously maintained and updated by the long-term owner, and is now available on the market for the first time in over 35 years. Don’t miss your chance to own this trophy asset.
Listing ID1997935
Sold For$4,025,000
StatusClosed
Sold Date8/11/2023
SqFt
9,626
Acres
0.221
CountyKing
SubdivisionEastlake
Year Built1929
Property TypeResidential Income
Property Sub TypeMulti-Family
County
King
Price Reduction Date
2023-03-02T19:51:33+00:00
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Eastlake
Year Built
1929
Building Area Units
Square Feet
Flooring
Hardwood, Carpet
Furnished
Unfurnished
Interior Features
High Efficiency - 90%+, Hardwood, Wall to Wall Carpet
Living Area Units
Square Feet
Stories Total
4
Elevation Units
Feet
Exterior Features
Brick, Wood
Foundation Details
Poured Concrete
Lot Size Square Feet
9626
Lot Size Units
Square Feet
MLS Lot Size Source
King County Parcel Viewer
Number Of Units Total
2
Open Parking Spaces
7
Parking Total
7
Parking Uncovered Spaces
7
Roof
Torch Down
Sewer
Sewer Connected
Sewer Company
SPU
Structure Type
Multi Family
Style Code
56 - 10+ Units
Units Below Grade
false
Units In Building Total
15
Water Company
SPU
Water Sewer Garbage
5559
Water Source
Public
Building Area Total
9626
Country
US
High School District
Seattle
MLS Area Major
390 - Central Seattle
View
City, Lake, Mountain(s)
Waterfront
no
Zoning Class
Multi-Family
Zoning Jurisdiction
City
Amenities
Basement,Coin Op Laundry
Effective Year Built Source
Public Records
First Right Of Refusal
no
Green Energy Efficient
High Efficiency - 90%+
Mls Status
Sold
Offers
Seller intends to review offers upon receipt
Possible Use
Multi-Family
Power Company
PSE
Power Production Type
Electric
Preliminary Title Ordered
yes
Property Condition
Very Good
Show Map Link
yes
Year Built Effective
1929
Buyer Financing
Conventional
Cap Rate
3.3
Electric Expense
5559
Fuel Expense
5559
Gross Adjusted Income
268060
Gross Rent Multiplier
30
Gross Scheduled Income
276000
Insurance Expense
9963
Leasable Area
9626
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
169370
Other Expense
35353
Possession
Closing
Sale Type
MLS
Seller Disclosure
Not Provided
Special Listing Conditions
None
Tax Annual Amount
36697
Tax Year
2022
Total Expenses
98690
Total Monthly Income
23025
Vacancy Rate
4
2037 Boylston Avenue E Seattle, WA 98102
Based on information submitted to the MLS GRID as of Thursday, March 28th, 2024 04:47:49 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
#IDX-primaryPhoto,#idx-details-headerClosed
Closed Listing courtesy of Kidder Mathews
Listing sold by Kidder Mathews
#IDX-listingMediaLinksClosed
Closed Listing courtesy of Kidder Mathews
Listing sold by Kidder Mathews