3222 W Government Way

Seattle, Washington WA98199

The Magnolia 4 Apartments consists of a triplex building and a standalone Townhouse that backs up to protected greenbelt behind the property. This is a great owner-occupant opportunity located on a large 6,000 sqft. lot zoned LR3-RC (M). Good unit mix of 1, 2 and 3 bedrooms. This is a low-maintenance property with rental income upside. The "Mag 4" is conveniently positioned on the north end of Magnolia along Government Way providing easy access to Discovery Park, Magnolia Village, Elliott Bay Bike Trail and is walking distance to Metropolitan Market.

About This Property

Listing ID2039016
SqFt 3,180
Acres 0.138
Year Built1957
Property TypeResidential Income
Property Sub TypeMulti-Family
County King
Price Before Reduction 1800000
Price Reduction Date 2023-03-23T17:52:30+00:00
Property Sub Type Multi-Family
Property Type Residential Income
Subdivision Magnolia
Year Built 1957
Building Area Units Square Feet
Flooring Ceramic Tile, Laminate, Carpet
Furnished Unfurnished
Interior Features Ceramic Tile, Laminate Hardwood, Wall to Wall Carpet
Living Area Units Square Feet
Stories Total 2
Elevation Units Feet
Exterior Features Brick, Wood
Lot Features Paved, Sidewalk
Lot Size Square Feet 6000
Lot Size Units Square Feet
MLS Lot Size Source King County Assessor
Number Of Units Total 4
Open Parking Spaces 2
Parking Total 2
Parking Uncovered Spaces 2
Roof Composition
Sewer Sewer Connected
Structure Type Quadruplex
Style Code 54 - 4-Plex
Units Below Grade false
Units In Building Total 4
Water Sewer Garbage 6500
Building Area Total 3180
Country US
High School District Seattle
MLS Area Major 700 - Queen Anne/Magno
Waterfront no
Zoning Class Multi-Family
Zoning Jurisdiction City
First Right Of Refusal no
Mls Status Active
Offers Seller intends to review offers upon receipt
Possible Use Multi-Family
Power Production Type Electric
Preliminary Title Ordered yes
Cap Rate 4.72
Gross Adjusted Income 103664
Gross Rent Multiplier 16.02
Gross Scheduled Income 105780
Insurance Expense 2067
Leasable Area 3180
Leasable Area Units Square Feet
Leased Items None
Net Operating Income 79999
Other Expense 2800
Possession Closing
Sale Type MLS
Seller Disclosure Not Provided
Special Listing Conditions None
Tax Annual Amount 12299
Tax Year 2023
Total Expenses 23666
Total Monthly Income 8815
Vacancy Rate 2

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3222 W Government Way Seattle, WA 98199

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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: Sunday, March 26th, 2023 08:17:02 AM.
Active Listing courtesy of Westlake Associates, Inc.
Active Listing courtesy of Westlake Associates, Inc.
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