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Listed by:Skyline Properties, Inc. • Amir Rashidi
$ 1,379,000
Est. payment /mo
Active
6635 Carleton AVE S Seattle, WA 98108
5 Beds
4 Baths
2,910 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,910 sqft
Price per Sqft $473
Subdivision Georgetown
MLS Listing ID 2542292
Style 54 - 4-Plex
Bedrooms 5
Year Built 1908
Annual Tax Amount $9,024
Lot Size 3,048 Sqft
Property Sub-Type Multi Family
Property Description
Turnkey Georgetown Multifamily Investment with Immediate Income & Upside Excellent opportunity to acquire a stabilized, income-producing four-unit property in the heart of Georgetown. The property consists of one non-conforming studio, two 1-bedroom/1-bathroom units, and one 2-bedroom/1-bathroom unit. All units were renovated approximately five years ago with updated kitchens, hard-surface flooring, modern fixtures, and refreshed finishes, minimizing near-term capital improvement needs. The property has been carefully maintained and provides investors with immediate cash flow plus additional value-add potential. Investment Highlights: * Purchase Price: $1,379,000 * Gross Annual Income: $90,000 * Annual Expenses: $21,204 * NOI: $68,796 * Cap Rate: 5%. Increase the rent and change this to 7.5% * Renovated and well-maintained units * Upside potential through future rent increases * Additional potential income from storage * Seller concession available through CMG Home Loans, subject to lender terms and buyer qualification, Diane Haag, 425-444-8484. With a nearly 5% cap rate, renovated units, and identifiable opportunities to increase revenue, this property offers investors an attractive combination of current cash flow, limited near-term capital needs, and long-term appreciation potential in Seattle's Georgetown neighborhood.
Location
State WA
County King
Area 385 - Sodo/Beacon Hill
Interior
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Built-Up
Building
Lot Description Paved
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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