3721 27th Place W, Seattle, WA 98199

$8,500,000
23,870
SqFt

Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.

Sold Price
$8,500,000
List Price
$8,500,000
Status
SOLD
MLS#
1363288
Closing Date
Jan 30, 2019
Days on Market
43
Style
56 - 10+ Units
Finished SqFt
23,870
Area Total SqFt
23870
Annual Tax Ammount
73558
Lot Size (sq ft)
20,300
Sewer
Sewer Connected

Property Description

26-unit apartment building located in the quiet tight-knit Magnolia neighborhood near Downtown Seattle. Brittany House is the definition of a pride-of-ownership building and is available to purchase for the first time in over 20 years. This is an extremely rare opportunity for an investor to acquire a well-maintained asset in a very desirable Seattle neighborhood with repositioning upside.

Additional Information

List Date
2018-12-18 00:00:00
Community
Magnolia
Net Operating Income
$341,219
Gross Adjusted Income
$534,565
Gross Scheduled Income
$545,474
Total Monthly Income
$45,456
Insurance Expenses
$9,100
Water/Sewer/Garbage Expenses
$35,102
Gross Rent Multiplier
15
Total Expenses
$193,346
Cap Rate
4.01
Vacancy Rate
2
Total Number of Units
26
Unit Name
3721
Potential Terms
Cash Out
Year Built
1977
Roof
Flat
Other Expenses
75586
School District
Seattle
Total Monthly Income
$45,456
Gross Scheduled Income
$545,474
Vacancy Rate
2
Gross Adjusted Income
$534,565
Tax Year
2018
Insurance Expense
$9,100
W/S/G Expenses
$35,102
Total Expenses
$193,346
Net Operating Income
$341,219
Gross Rent Multiplier
15
Cap Rate
4.01
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