9601 8th Avenue NW Unit #1-12, Seattle, WA 98117

$2,600,000
8,967
SqFt

Listing courtesy of Kidder Mathews.

List Price
$2,600,000
Status
PENDING INSPECTION
MLS#
1869424
Days on Market
40
Style
56 - 10+ Units
Finished SqFt
8,967
Area Total SqFt
8967
Lot Size (sq ft)
7,975

Property Description

Positioned at the convergence of Seattle’s desirable Crown Hill and Greenwood neighborhoods approximately 7 miles north of SLU and downtown, Lakeland is a 1987-built structure priced below $220,000/unit. The property boasts 12 one-bed homes over a secured garage with 11 spaces. Its convenient location near Holman Road provides easy access to restaurants, services, and transit, and great walkability to parks and Pipers Creek. While profitable in its current operations, income upside opportunities include raising rents to market and increasing utility billbacks and parking charges. With its modern construction, potential income upside, and desirable residential location within a world-class metropolis, this is an exceptional opportunity.

Additional Information

List Date
2021-12-08 00:31:10
Community
Crown Hill
Potential Terms
Cash Out, Conventional
Year Built
1987
Roof
Composition
Heating/Cooling Type
Forced Air
Other Expenses
35997
Energy Source
Electric
School District
Seattle
Elementary School
Loyal Heights
Middle School
Whitman Mid
High School
Ingraham High
Total Monthly Income
$15,399
Gross Scheduled Income
$184,784
Vacancy Rate
5
Gross Adjusted Income
$175,545
Tax Year
2021
Insurance Expense
$5,418
W/S/G Expenses
$15,921
Total Expenses
$82,559
Net Operating Income
$92,985
Gross Rent Multiplier
14
Cap Rate
3
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