Seattle,
Washington WA98103
The offering provides the opportunity to acquire Carolyn Court (”the Property”), a 21-unit, three-story apartment building located near the Northgate district of Seattle, Washington. This is a quality asset built in 1989 with a proven value-add plan to renovate the remaining classic units and improve the net operating income by an estimated 40%, while benefiting from growth in a transportation and an amenity-rich Seattle location. The Property has been well maintained by the current owners with nearly $280,000 in capital improvements invested in the property over the last several years. The Property is equipped with a gated parking garage below the building that has 25 parking stalls and a secure front entry system.
Listing ID2071900
Price$4,998,000$45M
StatusActive
SqFt
15,080
Acres
0.230
CountyKing
SubdivisionNorthgate
Year Built1989
Property TypeResidential Income
Property Sub TypeMulti-Family
County
King
Price Before Reduction
49980000
Price Reduction Date
2023-05-23T21:31:58+00:00
Property Sub Type
Multi-Family
Property Type
Residential Income
Subdivision
Northgate
Year Built
1989
Building Area Units
Square Feet
Furnished
Unfurnished
Living Area Units
Square Feet
Stories Total
3
Covered Spaces
25
Elevation Units
Feet
Exterior Features
Metal/Vinyl
Lot Size Square Feet
10000
Lot Size Units
Square Feet
MLS Lot Size Source
KCPV
Number Of Units Total
21
Parking Total
25
Roof
Flat
Sewer
Sewer Connected
Structure Type
Multi Family
Style Code
56 - 10+ Units
Units Below Grade
false
Units In Building Total
21
Water Sewer Garbage
27541
Building Area Total
15080
Country
US
High School District
Seattle
MLS Area Major
710 - North Seattle
Waterfront
no
Zoning Class
Residential
Zoning Jurisdiction
County
Effective Year Built Source
Public Records
First Right Of Refusal
no
Mls Status
Active
Offers
Seller intends to review offers upon receipt
Possible Use
Residential
Power Production Type
Electric
Preliminary Title Ordered
no
Show Map Link
yes
Year Built Effective
2001
Cap Rate
4.8
Gross Adjusted Income
374269
Gross Rent Multiplier
13.9
Gross Scheduled Income
358380
Insurance Expense
10132
Leasable Area
15080
Leasable Area Units
Square Feet
Leased Items
Washer/Dryer
Net Operating Income
238662
Other Expense
56277
Possession
Closing
Sale Type
MLS
Seller Disclosure
Not Provided
Special Listing Conditions
None
Tax Annual Amount
41656
Tax Year
2023
Total Expenses
135606
Total Monthly Income
32682
Vacancy Rate
5
9512 Interlake Avenue N Seattle, WA 98103
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: Thursday, June 1st, 2023 10:36:24 PM.
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