909 4th Avenue N, Seattle, WA 98109

$2,400,000
4,640
SqFt

Listing courtesy of Lee & Associates Commercial RE. Selling Office: Westlake Associates, Inc..

Sold Price
$2,400,000
List Price
$2,450,000
Status
SOLD
MLS#
1663346
Closing Date
Jul 07, 2021
Days on Market
236
Style
55 - 5-9 Units
Finished SqFt
4,640
Area Total SqFt
4640
Annual Tax Ammount
22751
Lot Size (sq ft)
6,400
Sewer
Sewer Connected

Property Description

Nestled on the south slope of Queen Anne overlooking Lower Queen Anne & Downtown Seattle. A pride of ownership building, built in 1931, this eight-unit building consists 8 units with off-street & covered parking. Current ownership has maintained the building well & made updates to systems, kitchens and bathrooms. The building has averaged 1.36% vacancy rate. Elliott View’s idyllic location neighboring Ward Springs Pocket Park and its proximity to amenities is attractive to renters.

Additional Information

List Date
2020-11-13 00:00:00
Community
Queen Anne
Net Operating Income
$98,135
Gross Adjusted Income
$144,120
Gross Scheduled Income
$142,260
Total Monthly Income
$12,074
Insurance Expenses
$2,800
Water/Sewer/Garbage Expenses
$8,966
Gross Rent Multiplier
17
Total Expenses
$41,717
Cap Rate
4.01
Vacancy Rate
3
Total Number of Units
8
Unit Name
909
Potential Terms
Cash Out, Conventional
Year Built
1931
View
City, Territorial
Roof
Flat
Other Expenses
7200
Energy Source
Electric
School District
Seattle
Total Monthly Income
$12,074
Gross Scheduled Income
$142,260
Vacancy Rate
3
Gross Adjusted Income
$144,120
Tax Year
2020
Insurance Expense
$2,800
W/S/G Expenses
$8,966
Total Expenses
$41,717
Net Operating Income
$98,135
Gross Rent Multiplier
17
Cap Rate
4.01
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