This boutique 10 unit apartment checks all the boxes with its ideal location, mid-mod vibes, ample parking & strong cash flow. Fully stabilized with updated units, market rents & excellent professional management! Offered at a true 6.4% Cap Rate! A good unit mix of 2 beds, 1 beds, studios plus easy access to Northgate & Lake City Way attract solid commuter tenants. All units were remodeled to the studs with sleek new kitchens, baths, SS appliances, tile backsplash & pops of chic Hawaiian themed touches. Recent CapX includes new windows, 30 year TPO roof & updated plumbing throughout. Coin Op laundry provides additional income. In a world of bland & drab apartment buildings-be an Aloha House... don't miss this unique turnkey investment!
Property Features
Interior Features
- Bamboo/Cork
- Concrete
- Laminate Hardwood
- Flooring: Bamboo/Cork, Concrete, Engineered Hardwood, Laminate Hardwood
Heating and Cooling
- Heating Features: Wall
- Heating Fuel: Electric
- Heating: Yes
Exterior and Lot Features
Garage and Parking
- Carport Spaces: 2
- Open Parking Spaces: 6
- Open Parking: Yes
- Parking Total: 8
Land Info
- Lot Description: Paved Street, Sidewalk
- Lot Size Acres: 0.1836547
- Lot Size Square Feet: 8000
Home Features
- View: City
- Green Energy Efficient: Thermal Windows
Amenities and Community Features
- Coin Op Laundry
- Storage
- Thermal Windows
School Information
- Elementary School: Buyer To Verify
- High School: Buyer To Verify
- High School District: Seattle
- Middle School: Buyer To Verify
Rental Info
- Gross Scheduled Income: 189792
- Leasable Area: 5800
- Leasable Area Units: Square Feet
Multi-Unit Info
- Number of Units: 10
- Unit Features: Unit 10 BedsTotal: 2, Unit 10 BathsTotal: 1, Unit 10 SquareFeet: 850, Unit 10 ActualRent: 1828, Unit 10 UnitDescription: 10
- Bedrooms in Unit-6: 1
- Bedrooms in Unit-7: 1
- Bedrooms in Unit-8: 1
- Bedrooms in Unit-9: 1
- Bedrooms in Unit-10: 2
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
- Total Bathrooms in Unit-4: 1
- Total Bathrooms in Unit-5: 1
- Total Bathrooms in Unit-6: 1
- Total Bathrooms in Unit-7: 1
- Total Bathrooms in Unit-8: 1
- Total Bathrooms in Unit-9: 1
- Total Bathrooms in Unit-10: 1
- Unit-1 Description: 1
- Unit-2 Description: 2
- Unit-3 Description: 3
- Unit-4 Description: 4
- Unit-5 Description: 5
- Unit-6 Description: 6
- Unit-7 Description: 7
- Unit-8 Description: 8
- Unit-9 Description: 9
- Unit-10 Description: 10
- Unit-1 Square Feet: 450
- Unit-2 Square Feet: 450
- Unit-3 Square Feet: 450
- Unit-4 Square Feet: 450
- Unit-5 Square Feet: 450
- Unit-6 Square Feet: 700
- Unit-7 Square Feet: 700
- Unit-8 Square Feet: 700
- Unit-9 Square Feet: 700
- Unit-10 Square Feet: 850
- Unit 1 Total Actual Rent: 1392
- Unit 2 Total Actual Rent: 1475
- Unit 3 Total Actual Rent: 1380
- Unit 4 Total Actual Rent: 1437
- Unit 5 Total Actual Rent: 1450
- Unit 6 Total Actual Rent: 1737
- Unit 7 Total Actual Rent: 1587
- Unit 8 Total Actual Rent: 1655
- Unit 9 Total Actual Rent: 1723
- Unit 10 Total Actual Rent: 1828
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Other Property Info
- Annual Tax Amount: 17536
- Source Listing Status: Pending
- Country Region: US
- County: King
- Cap Rate: 6.4
- Directions: From S. Seattle, head N on I-5, and take exit 171 for WA-522 E. Keep N and merge left onto 24th Ave NE, then turn right to NE Northgate Way. Property will be on your left.
- Tax Year: 2023
- Other Expense: 16075
- Source Property Type: Multi-Family
- Possible Use: Commercial, Multi-Family, Residential
- Insurance Expense: 2350
- List Development Name: Seattle
- Source Neighborhood: Seattle
- Parcel Number: 8902500007
- Street Suffix Modifier: Way
- Subdivision: Seattle
- Property Subtype: Multi-family
- Source System Name: C2C
- Buyer Agent Commission: 2.5
Commercial Info
- Net Operating Income: 139406
Building and Construction
- Total Square Feet Living: 5800
- Building Area Total: 5800
- Building Area Units: Square Feet
- Foundation Details: Poured Concrete
- Living Area Units: Square Feet
- Property Age: 62
- Property Condition: Good
- Roof: Flat
- Building Total Stories: 2
- Structure Type: Multi Family
- Elevation Units: Feet
- Year Built Effective: 1993
Utilities
- Electric Expense: 1424
- Power Production Type: Electric
- Sewer: Sewer Connected
- Water Source: Public
