8820 Stone Ave N
Seattle WA 98103
8820 Stone Avenue N
8820 Stone Ave N Seattle WA 98103
Listing #: 656190 | Status: Pending | Last Modified: 5/31/2023 |
For Sale
- Phone:(206) 505-9428
- Email:travisk@westlakeassociates.com
- Office Name:Westlake Associates, Inc.
- Office Phone:(206) 505-9400
- Office Website:
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 2,850,000.0
- $/SF$ 437.0
- $/Unit$ 407,142.9
- Listing StatusPending
- Days on Market872
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income169,689
- Vacancy Factor %5.00%
- Operating Expenses39,565
- Net Operating Income121,639
- CAP Rate 4.57 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units7
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 4.57 %
- Building StatusExisting
- # of Buildings1
- # of Floors3
- # of Units7
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF6558
- Net Rentable Area6521
- Total Office SF
- Largest Contiguous SF
- Lot SF6926
- Acres0.16
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaGreenlake
- Tax ID #0993001000
- Additional Parcels
- ZoningLR2M
- Year Built1991
- Year Renovated
- Completion Date
- Roof Type
- Construction TypeWood
North Seattle Value-Add Multifamily For Sale
Located in the up-and-coming neighborhood of North Green Lake, this 7-unit apartment building 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. Proforma rents suggest this is a 5%+ Cap Investment. The current unit mix consist of five , two bedrooms, two bath units and two, three bedrooms with two bath units. Each unit is spacious and has their own washer and dryer. Over the years the units have been updated with new carpets, paint and appliances when needed. The basement also has a laundry area that all tenants have access to. The location of this property is ideal for navigating the city. Lo