10522 Lake City Wy NE

Seattle, WA 98125

Status

SOLD

MLS#

417849

Sold Price

$3,550,000

List Price

$3,800,000

Closing Date

May 21, 2013

Style

56 - 10+ Units

Size

32,631

Lot Size (sq ft)

27,354

Property Description

10 commercial units, 32 residential units. All specials units & under market rent by about 10-20%. Owner spent serious $ to improve the property including 65% of new roof in 2008, completely new exterior painting in 2010, 35% units remodeled in 2006, All balcony Iron Rails replaced in 2009, new concrete retainig wall. Majority units have washer/dryer or hookups. Each unit has dishwasher and fireplace except commerical units. Each unit either has a balcony or patio. A good condo conv candidate.

Property Details

List Date

2012-10-24 00:00:00

Community

Lake City

Property Type

MULT

# of Units

42

Stories

5

Unit 1 Information

Unit 1 Baths

1.00

Unit 1 Size

665

Unit 1 Rent

$564

Unit 2 Information

Unit 2 Beds

1

Unit 2 Baths

1.00

Unit 2 Size

580

Unit 2 Rent

$656

Unit 3 Information

Unit 3 Beds

2

Unit 3 Baths

1.00

Unit 3 Size

871

Unit 3 Rent

$855

Unit 4 Information

Unit 4 Beds

3

Unit 4 Baths

1.00

Unit 4 Size

871

Unit 4 Rent

$875

Financial Information

Net Operating Income

$176,059

Gross Adjusted Income

$351,876

Gross Scheduled Income

$370,392

Total Monthly Income

$30,866

Insurance Expense

$15,000

W/S/G Expenses

$49,999

Total Expenses

$175,817

Gross Rent Multiplier

10

Vacancy Rate

5

Cap Rate

5.00

Additional Information

Year Built

1983

Total Parking

51

Uncovered Parking

22

Exterior

Wood

Roof

Built-Up

Annual Taxes

$40,345

Tax Year

2011

School District

Seattle

Potential Terms

Cash Out, Conventional

no photo
425-223-6021

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