Active

$2,250,000

Price

5,200

SqFt

5,200

SqFt

5210 12th Avenue NE

Seattle, Washington WA98105

This classic 11-unit building provides a great value-add opportunity in one of Seattle’s core markets. Located in the U District, one of the lowest vacancy submarkets in the city, this asset is poised to take advantage of steady future growth and appreciation. The building is comprised of studio, one and two bedroom units, featuring spacious floorplans, hardwood floors, and fireplaces in select units. This offering presents an opportunity for a buyer to continue a proven value-add model, with upside through cosmetic unit renovations and rental increases.

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About This Property

Schools

Walkscore

Overview

Listing ID2039883

Price$2,250,000

StatusActive

SqFt 5,200

Acres 0.126

CountyKing

SubdivisionUniversity District

Year Built1913

Property TypeResidential Income

Property Sub TypeMulti-Family

Primary Features

County King

Property Sub Type Multi-Family

Property Type Residential Income

Subdivision University District

Year Built 1913

Interior

Building Area Units Square Feet

Furnished Unfurnished

Living Area Units Square Feet

Stories Total 3

External

Carport Spaces 1

Elevation Units Feet

Exterior Features Wood

Lot Size Square Feet 5500

Lot Size Units Square Feet

MLS Lot Size Source King County

Number Of Units Total 11

Parking Total 1

Roof Built-Up

Sewer Available

Structure Type Multi Family

Style Code 56 - 10+ Units

Units Below Grade true

Units In Building Total 11

Water Sewer Garbage 18842

Location

Building Area Total 5200

Country US

High School District Seattle

MLS Area Major 710 - North Seattle

Waterfront no

Additional

Effective Year Built Source See Remarks

Mls Status Active

Offers Seller intends to review offers upon receipt

Power Production Type Electric

Preliminary Title Ordered no

Show Map Link yes

Year Built Effective 1994

Financial

Cap Rate 5.13

Gross Adjusted Income 174161

Gross Rent Multiplier 12.79

Gross Scheduled Income 175920

Insurance Expense 2757

Leasable Area 5200

Leasable Area Units Square Feet

Leased Items None

Net Operating Income 115454

Other Expense 15550

Possession Closing

Sale Type MLS

Seller Disclosure Not Provided

Special Listing Conditions None

Tax Annual Amount 21558

Tax Year 2022

Total Expenses 58707

Total Monthly Income 14660

Vacancy Rate 1

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5210 12th Avenue NE Seattle, WA 98105

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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.

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