Located in the up-and-coming neighborhood of North Green Lake, this 7-unit apartment is on the market for the first time since the current owner had it built in 1991. This property offers investors the opportunity to own and manage an easily maintained and easy to rent building with immediate rental upside and value-add potential. Each unit is spacious and has their own washer/dryer. The basement also has a laundry area that all tenants have access to. Over the years the units have been updated with new carpets, paint and appliances when needed. Located 2 blocks from a major transit line, quick and easy access to I-5 and Hwy 99, and less than a 5-minute drive to Northgate Mall and the new Light Rail Station.
Property Features
Heating and Cooling
- Heating Features: Baseboard
- Heating Fuel: Electric
- Heating: Yes
Exterior and Lot Features
Garage and Parking
- Covered Spaces: 7
- Parking Total: 7
Land Info
- Lot Description: Paved Street, Sidewalk
- Lot Size Acres: 0.1592746
- Lot Size Square Feet: 6938
Rental Info
- Gross Scheduled Income: 190800
- Leasable Area: 6558
- Leasable Area Units: Square Feet
Multi-Unit Info
- Number of Units: 7
- Bedrooms in Unit-1: 2
- Bedrooms in Unit-2: 2
- Bedrooms in Unit-3: 2
- Bedrooms in Unit-4: 3
- Bedrooms in Unit-5: 2
- Bedrooms in Unit-6: 2
- Bedrooms in Unit-7: 3
- Total Bathrooms in Unit-1: 2
- Total Bathrooms in Unit-2: 2
- Total Bathrooms in Unit-3: 2
- Total Bathrooms in Unit-4: 2
- Total Bathrooms in Unit-5: 2
- Total Bathrooms in Unit-6: 2
- Total Bathrooms in Unit-7: 2
- Unit-1 Description: 101
- Unit-2 Description: 201
- Unit-3 Description: 202
- Unit-4 Description: 203
- Unit-5 Description: 301
- Unit-6 Description: 302
- Unit-7 Description: 303
- Unit-1 Square Feet: 873
- Unit-2 Square Feet: 873
- Unit-3 Square Feet: 873
- Unit-4 Square Feet: 1083
- Unit-5 Square Feet: 873
- Unit-6 Square Feet: 873
- Unit-7 Square Feet: 1083
- Unit 1 Total Actual Rent: 2050
- Unit 2 Total Actual Rent: 2100
- Unit 3 Total Actual Rent: 2035
- Unit 4 Total Actual Rent: 2350
- Unit 5 Total Actual Rent: 2595
- Unit 6 Total Actual Rent: 2050
- Unit 7 Total Actual Rent: 2720
School Information
- High School District: Seattle
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Other Property Info
- Annual Tax Amount: 18384
- Source Listing Status: Active
- Country Region: US
- County: King
- Cap Rate: 5.56
- Directions: On Aurora Ave N/Hwy 99 - turn right onto N 85th St. Turn left onto Stone Ave N. At traffic circle, continue straight and property will be on the right.
- Tax Year: 2024
- Other Expense: 2200
- Source Property Type: Multi-Family
- Possible Use: Multi-Family
- Insurance Expense: 10750
- Area: 705 - Ballard/Greenlake
- List Development Name: Licton Springs
- Source Neighborhood: Licton Springs
- Parcel Number: 0993001000
- Street Suffix Modifier: Avenue
- Subdivision: Licton Springs
- Zoning: Multi-Family
- Source System Name: C2C
- Buyer Agent Commission: 2.5
Commercial Info
- Net Operating Income: 143526
- Operating Expense: 37734
Utilities
- Power Production Type: Electric
- Sewer: Sewer Connected
Building and Construction
- Building Area Total: 6558
- Building Area Units: Square Feet
- Living Area Units: Square Feet
- Property Age: 33
- Roof: Composition
- Building Total Stories: 3
- Structure Type: Multi Family
- House Style: 5-9 Units
- Elevation Units: Feet
Home Features
- Security Features: FullyFenced
