9512 Interlake Avenue N

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.

About This Property

Listing ID2071900
SqFt 15,080
Acres 0.230
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
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

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9512 Interlake Avenue N Seattle, WA 98103

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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: Thursday, June 1st, 2023 10:36:24 PM.
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Active Listing courtesy of CPX LLC
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