10522 Lake City Wy NE

Seattle, WA 98125

$3,550,000
32,631
SqFt

Listing courtesy of WPI Real Estate Services, Inc.. Selling Office: .

Sold Price
$3,550,000
List Price
$3,800,000
Status
SOLD
MLS#
417849
Closing Date
May 21, 2013
Days on Market
209
Style
56 - 10+ Units
Finished SqFt
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.

425-223-6021

Additional Information

List Date
2012-10-24 00:00:00
Community
Lake City
Property Type
MULT
# of Units
42
Stories
5
Unit 1 Baths
1.00
Unit 1 Size
665
Unit 1 Rent
$564
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
580
Unit 2 Rent
$656
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
871
Unit 3 Rent
$855
Unit 4 Beds
3
Unit 4 Baths
1.00
Unit 4 Size
871
Unit 4 Rent
$875
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
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

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