2460 NE Northgate Way, Seattle, WA 98125

$2,500,000
5,800
SqFt

Listing courtesy of Sound Realty Group Inc.

List Price
$2,500,000
Status
ACTIVE
MLS#
2011285
Days on Market
32
Style
56 - 10+ Units
Building Condition
Good
Finished SqFt
5,800
Area Total SqFt
5800
Annual Tax Ammount
20150
Lot Size (sq ft)
8,000
Sewer
Sewer Connected

Property Description

The Aloha House is ideally situated w/ easy access to both Northgate & Lake City, this fun & well kept 10 unit building is a magnet for tenants. Every unit has been remodeled down to the studs with high quality finishes, new SS appliances & DW, cabinetry, tile, laminate floors & loads of stylish details create a designer, retro, beachy vibe! Other Cap X:exterior paint & finishes, new double pane windows, new 30 year TPO roof & new plumbing throughout. Coin-Op laundry serves 9 units w/ easy opportunity to add in-unit W/D to other units. Amenities include 8 parking spots, common areas, a few private patios/decks & tiki style landscaping. Vacancies fill super fast. Say Aloha to this solid 5.5% current/ 6% market cap rate!

Additional Information

List Date
2022-10-27 23:10:11
Community
Seattle
Net Operating Income
$137,558
Gross Adjusted Income
$180,457
Gross Scheduled Income
$184,140
Total Monthly Income
$15,345
Insurance Expenses
$2,500
Water/Sewer/Garbage Expenses
$7,200
Gross Rent Multiplier
13.58
Total Expenses
$42,898
Cap Rate
5.5
Vacancy Rate
2
Total Number of Units
10
Unit Name
2460
Potential Terms
Cash Out, Conventional
Year Built
1962
View
City
Roof
Flat
Heating/Cooling Type
Wall
Other Expenses
13048
Energy Source
Electric
School District
Seattle
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$15,345
Gross Scheduled Income
$184,140
Vacancy Rate
2
Gross Adjusted Income
$180,457
Tax Year
2021
Insurance Expense
$2,500
W/S/G Expenses
$7,200
Total Expenses
$42,898
Net Operating Income
$137,558
Gross Rent Multiplier
13.58
Cap Rate
5.5
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