517 Newton Street, Seattle, WA 98109
- $3,200,000
- 6,208
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Paragon Real Estate Advisors.
- Sold Price
- $3,200,000
- List Price
- $3,100,000
- Status
- SOLD
- MLS#
- 1983509
- Closing Date
- Sep 12, 2022
- Days on Market
- 11
- Style
- 56 - 10+ Units
- Finished SqFt
- 6,208
- Area Total SqFt
- 6208
- Annual Tax Ammount
- 26013
- Lot Size (sq ft)
- 7,136
- Sewer
- Sewer Connected
Property Description
This low rise view property on Queen Anne has two structures on one large developable tax parcel. The Newton St building has 5 units - all 1BD/1BTH, 558-561 SqFt units. The Taylor Ave building has 6 units - two Studio units at 473 SqFt and four 1BD/1BTH, 595 - 665 SqFt units. The current owner has provided rent increase notices to some of the units that will be effective November 1st, see rent roll page for current lease breakdown. Seller Financing of 25% down interest only may be available for well-qualified buyers. Additional address is 1921 Taylor Avenue N.
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Additional Information
- List Date
- 2022-09-01 00:00:00
- Community
- Queen Anne
- Net Operating Income
- $124,129
- Gross Adjusted Income
- $196,600
- Gross Scheduled Income
- $202,680
- Total Monthly Income
- $16,890
- Insurance Expenses
- $5,500
- Water/Sewer/Garbage Expenses
- $17,725
- Gross Rent Multiplier
- 15.3
- Total Expenses
- $72,470
- Cap Rate
- 4
- Vacancy Rate
- 3
- Total Number of Units
- 11
- Unit Name
- 517
- Potential Terms
- Cash Out, Conventional, FHA
- Year Built
- 1950
- Roof
- Composition
- Other Expenses
- 23232
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $16,890
- Gross Scheduled Income
- $202,680
- Vacancy Rate
- 3
- Gross Adjusted Income
- $196,600
- Tax Year
- 2022
- Insurance Expense
- $5,500
- W/S/G Expenses
- $17,725
- Total Expenses
- $72,470
- Net Operating Income
- $124,129
- Gross Rent Multiplier
- 15.3
- Cap Rate
- 4
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