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
Heating and Cooling
- Heating Features: Baseboard
- Heating Fuel: Electric
- Heating: Yes
Interior Features
- Flooring: Vinyl, Vinyl Plank, Wall to Wall Carpet
Exterior and Lot Features
- Brick
- Cement/Concrete
- Cement Planked
- Stucco
Land Info
- Lot Description: Curbs, Paved, Sidewalk
- Lot Size Acres: 1.0
- Lot Size Square Feet: 43560
Garage and Parking
- Open Parking Spaces: 7
- Open Parking: Yes
- Parking Total: 7
- Uncovered Spaces: 7
Home Features
Amenities and Community Features
School Information
- Elementary School: Lawton
- High School: Ballard High
- High School District: Seattle
- Middle School: Mc Clure Mid
Rental Info
- Gross Scheduled Income: 181274
- Leasable Area: 6753
- Leasable Area Units: Square Feet
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: 1.5
- 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
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Other Property Info
- Annual Tax Amount: 18651
- Source Listing Status: Active
- Country Region: US
- 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
- Street Suffix Modifier: Avenue
- Subdivision: Magnolia
- Zoning Description: Residential
- Source System Name: C2C
Commercial Info
- Net Operating Income: 88033
- Operating Expense: 93241
Utilities
- Electric Expense: 1054
- Power Production Type: Electric
- Sewer: Sewer Connected
- Water Source: Public
Building and Construction
- Building Area Total: 6793
- Building Area Units: Square Feet
- Building Exterior Type: Brick, Cement/Concrete, Cement Planked, Stucco
- Building Name: Gilmanor
- Living Area Units: Square Feet
- Property Age: 57
- Roof: Flat
- Building Total Stories: 4
- Structure Type: Multi Family
- House Style: 5-9 Units
- Elevation Units: Feet
- Year Built Effective: 1992
- Elevator: Yes
