700 NW Market Street, Seattle, WA 98107
- $3,225,000
- 6,405
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $3,225,000
- Status
- ACTIVE
- MLS#
- 1881308
- Days on Market
- 153
- Style
- 56 - 10+ Units
- Finished SqFt
- 6,405
- Area Total SqFt
- 6405
- Lot Size (sq ft)
- 5,000
Property Description
This offering is an investors dream with immediate upside potential. Units consists of eight 1BD/1BTH units and two 2BD/1BTH units with balconies or patios. Two units include wood-burning fireplaces. One unit includes a private fenced in yard. Seven of the units have received recent renovations including new tile, new bath fitter, new floor and vanity, and kitchen upgrades. Located in the heart of Ballard, the building has been maintained extremely well and presents a fantastic add-value opportunity for prospective buyers to make additional interior unit improvements and capitalize on the significant rental upside.
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Additional Information
- List Date
- 2022-01-24 22:43:09
- Community
- Ballard
- Potential Terms
- See Remarks
- Year Built
- 1958
- View
- See Remarks
- Roof
- See Remarks
- Heating/Cooling Type
- Baseboard
- Other Expenses
- 14400
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $15,550
- Gross Scheduled Income
- $186,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $181,002
- Tax Year
- 2022
- Insurance Expense
- $3,750
- W/S/G Expenses
- $12,300
- Total Expenses
- $53,206
- Net Operating Income
- $127,796
- Gross Rent Multiplier
- 17.28
- Cap Rate
- 3.96
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