122 W Main St

Auburn, WA 98001

Status

SOLD

MLS#

347288

Sold Price

$1,670,000

List Price

$1,750,000

Closing Date

Jun 21, 2013

Style

56 - 10+ Units

Size

13,312

Lot Size (sq ft)

7,200

Bank Owned

Yes

Property Description

20% Cash-on-cash return. See attached financials for more detailed info. Bank owned, mixed-use property consisting of 18 completely remodeled apartment units above 5362 square feet of ground floor retail. Seller will provide financing subject to credit approval and guarantee any vacant commercial space rent for 2-3 years. Call listing agent for more details.

Property Details

List Date

2012-04-23 00:00:00

Community

Downtown - Auburn

Property Type

MULT

# of Units

20

Stories

3

Unit 1 Information

Unit 1 Baths

1.00

Unit 1 Size

330

Unit 1 Rent

$594

Unit 2 Information

Unit 2 Beds

1

Unit 2 Baths

1.00

Unit 2 Size

473

Unit 2 Rent

$689

Unit 3 Information

Unit 3 Size

5362

Financial Information

Net Operating Income

$137,670

Gross Adjusted Income

$234,401

Gross Scheduled Income

$255,258

Total Monthly Income

$21,272

Insurance Expense

$7,200

W/S/G Expenses

$13,292

Total Expenses

$96,731

Gross Rent Multiplier

8

Vacancy Rate

8

Cap Rate

7.87

Additional Information

Year Built

1923

Exterior

Brick

Roof

Flat

Annual Taxes

$40,069

Tax Year

2012

School District

Auburn

Potential Terms

Cash Out, Conventional

no photo
425-223-6021

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Listing courtesy of Summerfield Commercial. Selling Agent: .

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