For more information on this property,
contact WPI Real Estate at 206.522.8172 or info@wpirealestate.com
5210
12th Avenue NE,
Seattle,
Washington
WA
98105
Sold For: $2,150,000
Listing ID 2039883
Status Closed
Sold Date 5/19/2023
SqFt 5,200
Acres 0.126
Subdivision University District
Year Built 1913
Property Description:
25% Down Seller Financing Available! 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.
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:
Sold
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
Buyer Financing:
Not Disclosed
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
Zoning Info
Area Info
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