Bought with AgencyOne
$1,200,000
$1,400,000
14.3%For more information regarding the value of a property, please contact us for a free consultation.
3,640 SqFt
SOLD DATE : 06/10/2024
Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,640 sqft
Price per Sqft $329
Subdivision Ballinger
MLS Listing ID 2211292
Sold Date 06/10/24
Style 54 - 4-Plex
Year Built 1979
Annual Tax Amount $9,983
Lot Size 10,138 Sqft
Property Description
Value add opportunity in Lake Forest Park, WA. Nestled on a quiet dead-end street between I5 and lake Washington, The large wooded lot offers tenants ample space to enjoy the outdoors. Built 1979 this 4-plex not only offers secured building access excellent but also ample potential for significant upside in raising rents, landscape improvements and unit upgrades. Featuring four generous 2-bed, 1-bath units, each 910 sq ft, complete with fireplaces. Recent upgrades include a new roof and windows in 2022 with a transferable warranty. Shared coin op laundry on site for additional income. Close to all amenities, The low cap rate is a reflection of the rents being way below market .
Location
State WA
County King
Area 720 - Lake Forest Park
Interior
Interior Features Wall to Wall Carpet
Flooring Carpet
Fireplace Yes
Exterior
Exterior Feature Wood
Waterfront No
View Y/N No
Roof Type Composition
Building
Lot Description Dead End Street
Sewer Sewer Connected
New Construction No
Schools
School District Shoreline
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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