3036 4th Ave W - Apartments FOR SALE


Seattle, WA 98119
$2,000,000 USD
206-566-6593
3036 4th Ave W, Seattle, WA for Sale
$2,000,000 USD
Apartments - FOR SALE
1/24
null | 3.66% Cap Rate

3036 4th Ave W
Seattle, WA 98119


HIGHLIGHTS

  • Well Maintained Asset in Prime Queen Anne Location
  • Seller Financing Available for qualified investors
  • Over 50% rental upside through strategic improvements and operation efficiencies

OVERVIEW

Prime value-add opportunity with Seller Financing available - in highly sought-after Queen Anne neighborhood. Well-maintained 6-unit multifamily property comprised of a Fourplex built in 1990 and a Duplex built in 1962. Versatile unit mix of 1 and 2-bedroom apartments. Property includes 6 garages and features a common laundry area for convenience. Strong investment potential, with the ability to increase rental income by approximately 57% through strategic renovations. Upside also includes the ability to implement utility billbacks and charge for 3 owner-occupied garages. Zoned MIO-37-LR1, this multifamily asset also provides the option for future development, including the potential to add two townhomes or row houses while keeping the existing Fourplex (buyer to verify). Attractive seller financing is available for qualified investors. Proposed terms are 25% down, 5% interest-only payments, and a 5-year balloon term. This is a rare opportunity to acquire a pride-of-ownership asset in one of Seattle's most desirable neighborhoods.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$421 USD /SF

# OF UNITS

6

PRICE/UNIT

$333,333

CAP RATE

3.66%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,620 SF

ZONING

MIO-37-LR1

APN/PARCEL ID

890000-0130

ASK ABOUT THIS PROPERTY

Matthew MillerSMI Real EstateMore Info
206-566-6593

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Matthew MillerSMI Real EstateMore Info
206-566-6593

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.