Bought with eXp Realty
$1,480,000
$1,515,000
2.3%For more information regarding the value of a property, please contact us for a free consultation.
3,600 SqFt
SOLD DATE : 10/29/2021
Key Details
Sold Price $1,480,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $411
Subdivision Queen Anne
MLS Listing ID 1758798
Sold Date 10/29/21
Style 55 - 5-9 Units
Year Built 1960
Annual Tax Amount $14,652
Lot Size 6,000 Sqft
Property Description
Valley View Apartments is a well-cared for, stabilized asset with upside in one of Seattle’s most sought-after neighborhoods. Six spacious 600sf, 1b/1b units, updated over the years with new cabinets, quartz countertops, and updated appliances. Common laundry and a private landscaped backyard. Off-street parking and easy commuting.
Minimal deferred maintenance and room to increase performance and capture upside through modernizing interiors. Buyers can expect upwards of a 5.15% stabilized cap-rate and a 4.50% stabilized cash-on-cash return without much of the heavy lifting typically required in a value-add purchase.
Location
State WA
County King
Area 700 - Queen Anne/Magnolia
Interior
Fireplace No
Exterior
Exterior Feature Wood Products
Utilities Available Sewer Connected, Electric
Waterfront No
View Y/N No
Roof Type Composition
Building
Lot Description Curbs, Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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"Three Trees" icon indicates a listing provided courtesy of NWMLS.