2515 Thorndyke Ave W

Seattle, WA 98199

Status

SOLD

MLS#

1086603

Sold Price

$4,350,000

List Price

$4,550,000

Closing Date

Jul 17, 2017

Days on Market

26

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

Additional Information

Potential Terms

Cash Out

Year Built

1959

Total Parking

20

Uncovered Parking

10

Exterior

Brick, Wood

Roof

Torch Down

School District

Seattle

Financial Information

Total Monthly Income

$25,460

Gross Scheduled Income

$270,600

Vacancy Rate

4

Gross Adjusted Income

$259,776

Annual Taxes

$21,835

Tax Year

2017

Insurance Expense

$3,111

W/S/G Expenses

$13,622

Total Expenses

$74,697

Net Operating Income

$219,999

Gross Rent Multiplier

15

Cap Rate

4

Approximate Room Dimensions

Unit 1 Beds

1

Unit 1 Baths

1.00

Unit 1 Size

677

Unit 1 Rent

$1,589

Unit 2 Beds

2

Unit 2 Baths

1.00

Unit 2 Size

857

Unit 2 Rent

$1,968

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Listing courtesy of Pilot Ventures LLC. Selling Office: .

(206) 452-0713

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