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.