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.

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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