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.
Listing ID2074553
Sold For$1,625,000
StatusClosed
Sold Date8/18/2023
SqFt
3,180
Acres
0.138
CountyKing
SubdivisionMagnolia
Year Built1957
Property TypeResidential Income
Property Sub TypeMulti-Family
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
_700QueenAnneMagnolia
Waterfront
no
Zoning Class
Multi-Family
Zoning Jurisdiction
City
First Right Of Refusal
no
Mls Status
Sold
Offers
Seller intends to review offers upon receipt
Possible Use
Multi-Family
Power Production Type
Electric
Preliminary Title Ordered
yes
Show Map Link
yes
Buyer Financing
Cash
Cap Rate
5.13
Gross Adjusted Income
115718
Gross Rent Multiplier
15.2
Gross Scheduled Income
118080
Insurance Expense
2067
Leasable Area
3180
Leasable Area Units
Square Feet
Leased Items
None
Net Operating Income
92053
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
9840
Vacancy Rate
2
3222 W Government Way Seattle, WA 98199
Based on information submitted to the MLS GRID as of Wednesday, April 17th, 2024 11:12:23 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
#IDX-primaryPhoto,#idx-details-headerClosed
Closed Listing courtesy of Westlake Associates, Inc.
Listing sold by Windermere Real Estate Midtown
#IDX-listingMediaLinksClosed
Closed Listing courtesy of Westlake Associates, Inc.
Listing sold by Windermere Real Estate Midtown