Active
$2,500,000
Price
5,800
SqFt
5,800
SqFt

2460 NE Northgate Way

Seattle, Washington WA98125

The Aloha House is ideally situated w/ easy access to both Northgate & Lake City, this fun & well kept 10 unit building is a magnet for tenants. Every unit has been remodeled down to the studs with high quality finishes, new SS appliances & DW, cabinetry, tile, laminate floors & loads of stylish details create a designer, retro, beachy vibe! Other Cap X:exterior paint & finishes, new double pane windows, new 30 year TPO roof & new plumbing throughout. Coin-Op laundry serves 9 units w/ easy opportunity to add in-unit W/D to other units. Amenities include 8 parking spots, common areas, a few private patios/decks & tiki style landscaping. Vacancies fill super fast. Say Aloha to this solid 5.5% current/ 6% market cap rate!

About This Property

Listing ID2011285
Price$2,500,000
StatusActive
SqFt 5,800
Acres 0.184
CountyKing
SubdivisionSeattle
Year Built1962
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Seattle
Year Built 1962
Building Area Units Square Feet
Flooring Bamboo/Cork, Concrete, Engineered Hardwood, Laminate
Furnished Unfurnished
Heating Cooling Type Wall
Interior Features Bamboo/Cork, Concrete, Laminate Hardwood
Living Area Units Square Feet
Stories Total 2
Carport Spaces 2
Elevation Units Feet
Exterior Features Cement/Concrete
Foundation Details Poured Concrete
Lot Size Square Feet 8000
Lot Size Units Square Feet
MLS Lot Size Source Realist
Number Of Units Total 10
Open Parking Spaces 6
Parking Total 8
Parking Uncovered Spaces 6
Roof Flat
Sewer Sewer Connected
Structure Type Multi Family
Style Code 56 - 10+ Units
Units Below Grade false
Units In Building Total 10
Utilities Sewer Connected, Electricity Available
Water Sewer Garbage 7200
Water Source Public
Building Area Total 5800
Country US
Elementary School Buyer To Verify
High School Buyer To Verify
High School District Seattle
Middle Or Junior School Buyer To Verify
MLS Area Major 710 - North Seattle
View City
Waterfront no
Zoning Class Commercial,Multi-Family,Residential
Zoning Jurisdiction City
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 Commercial, Multi-Family, Residential
Power Production Type Electric
Preliminary Title Ordered yes
Property Condition Good
Year Built Effective 1993
Cap Rate 5.5
Gross Adjusted Income 180457
Gross Rent Multiplier 13.58
Gross Scheduled Income 184140
Insurance Expense 2500
Leasable Area 5800
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 137558
Other Expense 13048
Possession Closing, Tenant's Rights
Sale Type MLS
Seller Disclosure Provided
Special Listing Conditions None
Tax Annual Amount 20150
Tax Year 2021
Total Expenses 42898
Total Monthly Income 15345
Vacancy Rate 2

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2460 NE Northgate Way Seattle, WA 98125

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