Seattle,
Washington WA98105
Situated across the street from Ravenna Park on a 7,675 sf LR3 RC (M) zone lot, the Parkway offers a diverse unit mix of four 2-beds, three 1-beds and one studio unit. These classic mid-century floorplans feature an average unit size of 731 sf. The building has received updates over the years including a full tile roof replacement and vinyl window replacements. Onsite parking to accommodate six vehicles includes four secured garage spaces. Potential to incorporate the current garage spaces into rentable square footage may exist. Ideally situated near work, school and play, the Parkway appeals to multiple investment strategies including value add repositions, adding net rentable, development potential, & opportunities abound.
Listing ID2030689
Price$2,350,000$50K
StatusActive
Acres
0.176
CountyKing
SubdivisionRavenna
Year Built1955
Property TypeResidential Income
Property Sub TypeMulti-Family
County
King
Price Before Reduction
2400000
Price Reduction Date
2023-02-23T01:05:11+00:00
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Ravenna
Year Built
1955
Building Area Units
Square Feet
Flooring
Carpet
Furnished
Unfurnished
Interior Features
Radiator, Wall to Wall Carpet
Living Area Units
Square Feet
Stories Total
3
Covered Spaces
4
Elevation Units
Feet
Exterior Features
Brick
Lot Features
Adjacent to Public Land, Paved, Sidewalk
Lot Size Square Feet
7675
Lot Size Units
Square Feet
MLS Lot Size Source
Public Record
Number Of Units Total
8
Open Parking Spaces
2
Parking Total
6
Parking Uncovered Spaces
2
Roof
Tile
Sewer
Sewer Connected
Sewer Company
Seattle Public Utilities
Structure Type
Multi Family
Style Code
55 - 5-9 Units
Units Below Grade
false
Units In Building Total
8
Water Sewer Garbage
9600
Water Source
Community
Country
US
Elementary School
Seattle Public Sch
High School
Seattle Public Sch
High School District
Seattle
Middle Or Junior School
Seattle Public Sch
MLS Area Major
710 - North Seattle
View
Mountain(s), Partial, Territorial
Waterfront
no
Zoning Class
Multi-Family
Zoning Jurisdiction
City
Amenities
Coin Op Laundry,See Remarks,Storage
Effective Year Built Source
Public Records
First Right Of Refusal
no
Mls Status
Active
Offers
Seller intends to review offers upon receipt
Possible Use
Multi-Family
Power Company
Seattle City Light
Power Production Type
Electric, Natural Gas
Preliminary Title Ordered
yes
Show Map Link
yes
Year Built Effective
1987
Cap Rate
5.22
Gross Adjusted Income
163077
Gross Rent Multiplier
13.7
Gross Scheduled Income
171660
Insurance Expense
3200
Leasable Area
5846
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
122630
Other Expense
21739
Possession
Closing
Sale Type
MLS
Seller Disclosure
Provided
Special Listing Conditions
None
Tax Annual Amount
21604
Tax Year
2023
Total Expenses
56143
Total Monthly Income
15613
Vacancy Rate
5
2321 NE 55th Street Seattle, WA 98105
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: Sunday, March 26th, 2023 09:18:04 AM.
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