Closed
$1,500,000
Sold For
3,132
SqFt
3,132
SqFt
1408 Orange Place N
Seattle, Washington WA98109
Very desirable 'atop the Hill' Queen Anne location! Zoned LR-1 with alley access. Surrounded by high-end residential properties & conveniently located at the top of Queen Anne Counterbalance, just north & above Lower Queen Anne & Belltown, and close to shopping & restaurants on Queen Anne Avenue with easy access to the Seattle Center, Downtown, Interbay, I-5 & 99 access. This well-maintained & updated brick Mid-Century four-plex offers 4 1-BR units, separately metered, all currently rented (likely below market value). Off-street parking for 5 vehicles is accessed via alley. First time on the market in ~37 years! Tremendous opportunity!
About This Property
Listing ID2030612
Sold For$1,500,000
StatusClosed
Sold Date7/13/2023
SqFt
3,132
Acres
0.138
CountyKing
SubdivisionQueen Anne
Year Built1953
Property TypeResidential Income
Property Sub TypeMulti-Family
County
King
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Queen Anne
Year Built
1953
Building Area Units
Square Feet
Flooring
Hardwood, Vinyl, Carpet
Furnished
Unfurnished
Interior Features
Forced Air, Hardwood, Wall to Wall Carpet
Living Area Units
Square Feet
Stories Total
3
Elevation Units
Feet
Exterior Features
Brick, Stucco
Foundation Details
Poured Concrete
Lot Features
Alley, Curbs, Paved, Sidewalk
Lot Number
6
Lot Size Square Feet
6000
Lot Size Units
Square Feet
MLS Lot Size Source
CoreLogic
Number Of Units Total
4
Open Parking Spaces
5
Parking Total
5
Parking Uncovered Spaces
5
Roof
Composition
Sewer
Sewer Connected
Sewer Company
City of Seattle
Structure Type
Quadruplex
Style Code
54 - 4-Plex
Units Below Grade
true
Units In Building Total
4
Water Company
City of Seattle
Water Sewer Garbage
2045
Water Source
Public
Block
7
Building Area Total
3132
Building Name
Bigelow's 2nd Addition
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
_700QueenAnneMagnolia
View
Territorial
Waterfront
no
Zoning Class
Multi-Family
Zoning Jurisdiction
City
Amenities
Coin Op Laundry,See Remarks,Storage
First Right Of Refusal
no
Mls Status
Sold
Offers
Seller intends to review offers upon receipt
Possible Use
Multi-Family
Power Company
Seattle City Light
Power Production Type
Electric, Oil
Preliminary Title Ordered
yes
Property Condition
Very Good
Show Map Link
yes
Site Features
Deck, Fenced-Partially
Buyer Financing
Cash
Cap Rate
0.02
Electric Expense
172
Gross Adjusted Income
65420
Gross Rent Multiplier
27.51
Gross Scheduled Income
65420
Insurance Expense
2183
Leasable Area
3078
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
40850
Other Expense
4056
Possession
Tenant's Rights
Sale Type
MLS
Seller Disclosure
Provided
Special Listing Conditions
None
Tax Annual Amount
16114
Tax Year
2022
Total Expenses
24570
Total Monthly Income
5450
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1408 Orange Place N Seattle, WA 98109
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