800 Queen Anne Avenue N, Seattle, WA 98109
- $17,350,000
- 34,018
- SqFt
Listing courtesy of Paragon Real Estate Advisors.
- List Price
- $17,350,000
- Status
- ACTIVE
- MLS#
- 2230692
- Days on Market
- 168
- Style
- 56 - 10+ Units
- Building Condition
- Remodeled
- Finished SqFt
- 34,018
- Area Total SqFt
- 34018
- Annual Tax Ammount
- 122078
- Lot Size (sq ft)
- 18,000
- Sewer
- Sewer Connected
Property Description
Amazing opportunity to acquire a 49 unit, fully renovated trophy asset with value-add opportunities. Built in 1958 and extensively renovated in 2019, the Val Anne offers highly sought after classic mid-century modern units. Great unit mix of Studio, 1BD, 2BD and 2 penthouse units. 19 units have views of the City Skyline and Puget Sound, in addition 9 units enjoy private balconies. The two Penthouse units are in a league of their own with sweeping views of the city and sound. This is an exceptional opportunity for a new investor to acquire a top-quality investment that will continue to appreciate over time. Currently the rents are approximately 10% below market rates.
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Additional Information
- List Date
- 2024-05-01 01:02:08
- Community
- Queen Anne
- Net Operating Income
- $726,017
- Gross Adjusted Income
- $1,047,367
- Gross Scheduled Income
- $1,079,760
- Total Monthly Income
- $89,980
- Insurance Expenses
- $18,264
- Water/Sewer/Garbage Expenses
- $46,744
- Gross Rent Multiplier
- 14.52
- Total Expenses
- $321,351
- Cap Rate
- 4.18
- Vacancy Rate
- 3
- Total Number of Units
- 49
- Unit Name
- 800
- Potential Terms
- Assumable, Cash Out, Conventional, Owner Financing
- Year Built
- 1958
- View
- Bay, Canal, Lake
- Roof
- Flat
- Site Features
- Patio, Rooftop Deck
- Other Expenses
- 134265
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $89,980
- Gross Scheduled Income
- $1,079,760
- Vacancy Rate
- 3
- Gross Adjusted Income
- $1,047,367
- Tax Year
- 2024
- Insurance Expense
- $18,264
- W/S/G Expenses
- $46,744
- Total Expenses
- $321,351
- Net Operating Income
- $726,017
- Gross Rent Multiplier
- 14.52
- Cap Rate
- 4.18
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.