Active
$2,200,000
Price
5,850
SqFt
5,850
SqFt

7 W Dravus Street

Seattle, Washington WA98109

CPX is pleased to present 7 W Dravus St, an investment offering with strong in-place income and further upside through a variety of value-add and exit strategies. The five-unit asset has a unique unit mix and is located in the sought-after North Queen Anne submarket. The offering consists of two structures built in 1924 and 1999: a single-family house and a fourplex. The property is operating at a true 5% cap rate on in-place income with upside through light renovation. In addition to conventional value-add strategies, there is an opportunity to subdivide the property and separate the two assets(Buyer to verify). This allows a potential buyer to renovate and then sell the single-family home, thus reducing their basis and increasing returns.

About This Property

Listing ID2026601
Price$2,200,000
StatusActive
SqFt 5,850
Acres 0.110
CountyKing
SubdivisionQueen Anne
Year Built1999
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Queen Anne
Year Built 1999
Building Area Units Square Feet
Flooring See Remarks
Furnished Unfurnished
Heating Cooling Type Wall
Living Area Units Square Feet
Stories Total 2
Carport Spaces 2
Elevation Units Feet
Exterior Features See Remarks
Lot Size Square Feet 4800
Lot Size Units Square Feet
MLS Lot Size Source KCPV
Number Of Units Total 5
Open Parking Spaces 2
Parking Total 4
Parking Uncovered Spaces 2
Roof Composition
Sewer Available
Structure Type Multi Family
Style Code 55 - 5-9 Units
Units Below Grade false
Units In Building Total 5
Water Sewer Garbage 8893
Building Area Total 5850
Country US
High School District Seattle
MLS Area Major 700 - Queen Anne/Magno
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
Effective Year Built Source Public Records
Mls Status Active
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Production Type See Remarks
Preliminary Title Ordered no
Year Built Effective 1999
Cap Rate 5
Gross Adjusted Income 161083
Gross Rent Multiplier 13.7
Gross Scheduled Income 160200
Insurance Expense 6326
Leasable Area 5850
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 109902
Other Expense 17618
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 18344
Tax Year 2022
Total Expenses 51181
Total Monthly Income 13424
Vacancy Rate 5

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7 W Dravus Street 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. © 2023 NWMLS. All rights reserved. Data last updated: Monday, February 6th, 2023 04:48:03 PM.
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