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3435 Burke Avenue N
Seattle, Washington WA 98103
Sold For: $4,000,000
Listing ID 2037076
Status Closed
Sold Date 5/17/2023
SqFt 12,664
Acres 0.157
Subdivision Wallingford
Year Built 1989

Property Description:

Wallingford 9 unit with Lake Union, City & Mtn views, 5 spacious 2bd 2+ bth units, One 3bed 2.5 Bath suite & three 1 bedroom top floor view units, Washer & Dryers in each unit, Solid Well Built 1990's building with 10 underground parking spots, Fire protected building with alarm & sprinkler system, Lots of upside rent increase potential w/utility charge back ,garage parking charges , Easy walk to Restaurant's, Coffee & gas works park for quality tenants, Nice cap rate for a great location building ! All new hot water tanks in 22, New Luxury Vinyl in all units for easy care, Very easy building to self manage. Always 100 % occupied !! 4 units with undermarket rents & no charge yet on garage parking.

Primary Features

County: King
Property Sub Type: Multi-Family
Property Type: Residential Income
Subdivision: Wallingford
Year Built: 1989

Interior

Building Area Units: Square Feet
Flooring: Vinyl, Vinyl Plank, Carpet
Furnished: Unfurnished
Interior Features: Forced Air, Wall to Wall Carpet
Living Area Units: Square Feet
Stories Total: 4

External

Covered Spaces: 10
Elevation Units: Feet
Exterior Features: Metal/Vinyl, Stucco, Wood
Foundation Details: Poured Concrete, Slab
Lot Features: Curbs, Dead End Street, High Voltage Line, Sidewalk
Lot Number: 1
Lot Size Square Feet: 6840
Lot Size Units: Square Feet
MLS Lot Size Source: KCR
Number Of Units Total: 9
Parking Total: 10
Roof: Composition
Sewer: Sewer Connected
Sewer Company: Seattle
Structure Type: Multi Family
Style Code: 55 - 5-9 Units
Units Below Grade: false
Units In Building Total: 9
Water Company: Seattle
Water Sewer Garbage: 13800
Water Source: Public

Location

Block: 68
Building Area Total: 12664
Country: US
High School: Lincoln High
High School District: Seattle
Middle Or Junior School: Hamilton Mid
MLS Area Major: _705BallardGreenlake
View: City, Lake, Mountain(s), Territorial
Waterfront: no
Zoning Class: Multi-Family
Zoning Jurisdiction: City

Additional

Amenities: Fire Sprinklers,Storage,Thermal Windows
First Right Of Refusal: no
Green Energy Efficient: Thermal Windows
Mls Status: Sold
Offers: Seller intends to review offers upon receipt
Possible Use: Multi-Family
Power Company: Seattle
Power Production Type: Electric
Preliminary Title Ordered: yes
Property Condition: Good
Site Features: Fenced-Partially, Gas Available

Financial

Buyer Financing: Cash
Cap Rate: 4.79
Electric Expense: 510
Gross Adjusted Income: 258708
Gross Rent Multiplier: 16.79
Gross Scheduled Income: 241140
Insurance Expense: 4557
Leasable Area: 12000
Leasable Area Units: Square Feet
Leased Items: None
Net Operating Income: 194200
Other Expense: 15424
Possession: Closing
Sale Type: MLS
Seller Disclosure: Provided
Special Listing Conditions: None
Tax Annual Amount: 30217
Tax Year: 2022
Total Expenses: 64508
Total Monthly Income: 21559

Zoning Info


Area Info


Based on information submitted to the MLS GRID as of Thursday, March 28th, 2024 11:57:38 AM. 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.

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