2515 Thorndyke Ave W

Seattle, WA 98199

Status

ACTIVE

MLS#

1086603

List Price

$4,550,000

Days on Market

21

Style

56 - 10+ Units

Lot Size (sq ft)

10,492

Property Description

This property provides an opportunity to buy a stable, turnkey asset in one of the fastest growing areas of Seattle. The Edge is a multifamily property with an average square footage of 743 square feet per unit. The building was built in 1959 and has undergone significant renovations in the last calendar year. Renovations include beautiful quartz counters, new cabinets, and full-sized washers and dryers in units. The property is located just minutes from Expedia’s future Global Headquarters.

Property Details

List Date

2017-03-06 00:00:00

Community

Magnolia

Property Type

MULT

Units

13

Stories

3

Unit 1 Information

Unit 1 Beds

1

Unit 1 Baths

1.00

Unit 1 Size

677

Unit 1 Rent

$1,589

Unit 2 Information

Unit 2 Beds

2

Unit 2 Baths

1.00

Financial Information

Net Operating Income

$219,999

Gross Adjusted Income

$259,776

Gross Scheduled Income

$270,600

Total Monthly Income

$25,460

Insurance Expense

$3,111

W/S/G Expenses

$13,622

Total Expenses

$74,697

Gross Rent Multiplier

15

Vacancy Rate

4

Cap Rate

4

Additional Information

Year Built

1959

Total Parking

20

Uncovered Parking

10

Exterior

Brick, Wood

Roof

Torch Down

Annual Taxes

$21,835

Tax Year

2017

School District

Seattle

Potential Terms

Cash Out

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Listing courtesy of .

(206) 452-0713

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