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Listed by Paragon Real Estate Advisors
$1,995,000
Est. payment /mo
14 Beds
11 Baths
7,300 SqFt
UPDATED:
11/14/2024 04:16 AM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,300 sqft
Price per Sqft $273
Subdivision Des Moines
MLS Listing ID 2289656
Style 56 - 10+ Units
Bedrooms 14
Year Built 1968
Annual Tax Amount $21,656
Lot Size 0.386 Acres
Property Description
This 11-unit building presents the opportunity to acquire an in-place 5.8% current cap rate with operational up-side to reach a 6.7% market cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,170,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with three 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms.
Location
State WA
County King
Area 120 - Des Moines/Redondo
Interior
Fireplace false
Exterior
Exterior Feature Brick, Wood
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Highline
Others
Senior Community No
Acceptable Financing Assumable, Cash Out, Conventional
Listing Terms Assumable, Cash Out, Conventional
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