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
Lot Size (sq ft)
7,136

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.

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
Heating/Cooling Type
Baseboard
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
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks