Portfolio of SEVEN 2 and 3 bed CONDO UNITS located at the well maintained + professionally managed Gilmanor Building, a premier Magnolia Community. Unique investment and perfect 1031 exch opportunity offers investors strong cash flow, stable rents in high appreciation zip code. Each unit is thoughtfully designed for comfort+ efficiency, ranging in size from 786-1081 sf. Units feature gas fireplaces, private balconies and newly renovated interiors. Building amenities include on-site laundry, intercom entry system, elevator, assigned parking spots and additional storage. Convenient location offers easy access to major employers, close proximity to Magnolia Village and Discovery Park. Walk Score of 77 and Bike Score of 62
Property Features
Bedrooms
Heating and Cooling
- Heating Features: Baseboard
- Heating Fuel: Electric
- Heating: Yes
- Number of Fireplaces: 0
Interior Features
- Flooring: Vinyl, Vinyl Plank, Wall to Wall Carpet
Garage and Parking
- Covered Spaces: 0
- Off Street Parking: 7
- Open Parking Spaces: 7
- Open Parking: Yes
- Parking Total: 7
- Uncovered Spaces: 7
Land Info
- Lot Description: Curbs, Paved, Sidewalk
- Lot Size Acres: 0.0
- Lot Size Square Feet: 1
Home Features
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
School Information
- Elementary School: Lawton
- High School: Ballard High
- High School District: Seattle
- Middle School: Mc Clure Mid
- School District: Seattle
Rental Info
- Gross Scheduled Income: 181274
- Leasable Area: 6753
Multi-Unit Info
- Number of Units: 23
- Bedrooms in Unit-1: 3
- Bedrooms in Unit-2: 2
- Bedrooms in Unit-3: 3
- Bedrooms in Unit-4: 2
- Bedrooms in Unit-5: 2
- Bedrooms in Unit-6: 3
- Bedrooms in Unit-7: 3
- Total Bathrooms in Unit-1: 2
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 2
- Total Bathrooms in Unit-4: 2
- Total Bathrooms in Unit-5: 2
- Total Bathrooms in Unit-6: 2
- Total Bathrooms in Unit-7: 2
- Unit-1 Square Feet: 1081
- Unit-2 Square Feet: 786
- Unit-3 Square Feet: 1081
- Unit-4 Square Feet: 786
- Unit-5 Square Feet: 857
- Unit-6 Square Feet: 1081
- Unit 1 Total Actual Rent: 2495
- Unit 2 Total Actual Rent: 1935
- Unit 3 Total Actual Rent: 2595
- Unit 4 Total Actual Rent: 1995
- Unit 5 Total Actual Rent: 1975
- Unit 6 Total Actual Rent: 2000
Other Property Info
- Annual Tax Amount: 18651
- Source Listing Status: Active
- County: King
- Cap Rate: 3.9
- Directions: GPS Friendly
- Tax Year: 2025
- Other Expense: 40217
- Source Property Type: Multi Family
- Possible Use: Residential
- Insurance Expense: 22598
- Area: 700 - Queen Anne/Magnolia
- List Development Name: Magnolia
- Source Neighborhood: Magnolia
- Parcel Number: See Addendum
- Subdivision: Magnolia
- Zoning Description: Residential
Commercial Info
- Net Operating Income: 88033
- Operating Expense: 93241
Building and Construction
- Year Built: 1968
- Building Area Total: 6793
- Building Area Units: Square Feet
- Building Name: Gilmanor
- Construction Materials: Brick, Cement/Concrete, Cement Planked, Stucco, Brick, Cement/Concrete, Cement Planked, Stucco
- Property Age: 58
- Roof: Flat
- Building Total Stories: 4
- Structure Type: Multi Family
- House Style: 5-9 Units
- Elevation Units: Feet
- Year Built Effective: 1992
Utilities
- Electric Expense: 1054
- Power Production Type: Electric
- Sewer: Sewer Connected
- Water Source: Public
