Listing provided by NWMLS, courtesy of CBRE INC

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Active
$2,995,000
/mo   Edit
MLS# 1501604
Multi-Family/Duplex
Built 1984
0.155 acres
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    Description:   Willow Tree Apartments, a 10-unit value-add investment opportunity with development upside in North Seattle. Built in 1984, the Property features an ideal mix of 6 one-bedroom and 4 two-bedroom units, with washers and dryers. RUBS program in-place and parking income. In 2017, Willow Tree?s zoning was adjusted to become a part of the Licton Springs Village, allowing a higher density with no parking restrictions. Prelim architect drawings allow for 13 to 14 additional units.

    Interior

    Approx. Sq Ft: 10,584 ft²
    Energy Source: Electric
    Heating and Cooling: Baseboard
    Floor Covering: Laminate Hardwood, Wall to Wall Carpet
    Amenities: Storage, See Remarks

    Utilities

    Water Company: Seattle
    Sewer: Available

    Location

    City: Seattle
    State: WA
    Zip Code: 98103
    Area: 705
    County: King
    School District: Seattle
    Latitude: 47.70025900
    Longitude: -122.34609200

    Building

    Year Built: 1984
    Roof: Composition
    Exterior: No
    Number of Units in Building: 10

    School

    School District: Seattle
    Junior High: Buyer To Verify
    Elementary School: Buyer To Verify
    Senior High: Buyer To Verify

    Lot

    Lot Sq Ft: 6,756 ft²
    Lot Dimensions: 50x135x50x135
    Number of Stories in Building: 4

    Site

    Community Name: Northgate

    Rent

    Terms: Cash Out

    Finance & Taxes

    Homeowner Dues (monthly): None
    Tax Expense: $15,733
    Insurance Expenses: 3224
    Electrical Expenses: 0
    Heating Expenses: 0
    Other Expenses: 8842
    Total Expenses: 40097
    Tax Year: 2019
    Gross Scheduled Income: 178305
    Vacancy Rate: 5
    Gross Adjusted Income: 169390
    Total Expenses: 40097
    Net Operating Costs: 129293
    Gross Rent Multiplier: 17
    Total Monthly Income: 14438

    Unit 1

    Description Unit 1: 21
    Sq Ft Unit 1: 600 ft²
    Bedrooms Unit 1: 1
    Bathrooms Unit 1: 1.00
    Range/Oven Unit 1: Y
    Refrigerator Unit 1: Y
    Dishwasher Unit 1: Y
    Washer/Dryer Unit 1: Y
    Fireplaces Unit 1: 0
    Rent Unit 1: $1,195

    Unit 2

    Description Unit 2: 22
    Sq Ft Unit 2: 600 ft²
    Bedrooms Unit 2: 1
    Bathrooms Unit 2: 1.00
    Range/Oven Unit 2: Y
    Refrigerator Unit 2: Y
    Dishwasher Unit 2: Y
    Washer/Dryer Unit 2: Y
    Fireplaces Unit 2: 0
    Rent Unit 2: $1,195

    Unit 3

    Description Unit 3: 23
    Sq Ft Unit 3: 600 ft²
    Bedrooms Unit 3: 1
    Bathrooms Unit 3: 1.00
    Range/Oven Unit 3: Y
    Refrigerator Unit 3: Y
    Dishwasher Unit 3: Y
    Washer/Dryer Unit 3: Y
    Fireplaces Unit 3: 0
    Rent Unit 3: $1,195

    Unit 4

    Description Unit 4: 24
    Sq Ft Unit 4: 600 ft²
    Bedrooms Unit 4: 1
    Bathrooms Unit 4: 1.00
    Range/Oven Unit 4: Y
    Refrigerator Unit 4: Y
    Dishwasher Unit 4: Y
    Washer/Dryer Unit 4: Y
    Fireplaces Unit 4: 0
    Rent Unit 4: $1,225

    Unit 5

    Description Unit 5: 31
    Sq Ft Unit 5: 850 ft²
    Bedrooms Unit 5: 2
    Bathrooms Unit 5: 1.00
    Range/Oven Unit 5: Y
    Refrigerator Unit 5: Y
    Dishwasher Unit 5: Y
    Washer/Dryer Unit 5: Y
    Fireplaces Unit 5: 0
    Rent Unit 5: $1,495

    Unit 6

    Description Unit 6: 32
    Sq Ft Unit 6: 600 ft²
    Bedrooms Unit 6: 1
    Bathrooms Unit 6: 1.00
    Range/Oven Unit 6: Y
    Refrigerator Unit 6: Y
    Dishwasher Unit 6: Y
    Washer/Dryer Unit 6: Y
    Fireplaces Unit 6: 0
    Rent Unit 6: $1,195

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    Listing provided by NWMLS, courtesy of CBRE INC