Ballard Triplex

5411 32nd Ave NW Seattle WA 98107

Listing #: 581464 | Status: Sold | Closing Date: 03/20/2017 | Last Modified: 3/20/2017 |

For Sale

5411 32nd Ave NW Seattle WA 98107

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Nick Hemming

(206) 812-9126
nhemming@paragonrea.com

Ryan Iles

(206) 812-9119
ryan@paragonrea.com

Paragon Real Estate Advisors

(206) 623-8880

Listing Information
Price
Listing Price$ 900,000
$/SF$ 398.23
$/Unit$ 300,000.00
Listing StatusSold
Days On Market60
Asset ClassMulti-Family
TermsCash Out
Closed Sales Only
Actual Sold Price$ 955,000
$/SF$ 422.57
Closing Date03/20/2017
Selling BrokerRyan Iles
Selling OfficeParagon Real Estate Advisors (997200)
Investment Information
Investment TypeProforma
Investment PropYes
Gross Income$ 42,660
Vacancy Factor %0.00%
Operating Expenses$ 11,050
Net Operating Income$ 31,610
CAP Rate3.5 %
GRM21.1
Detail Listing Information
Min Total SF2,260
Max Total SF2,260
Total Units3
Annual Expense Information
Expense Year2016
Real Estate Taxes$ 4,956
+Insurance$ 764
+Water/Sewer$ 3,080
+Maintenance$ 2,250
=Total Exp.$ 11,050
Annual Operating Information
Gross Sch Rents$ 42,660.00
Vacancy $$ 0.00
=Effective Gross$ 42,660
-Total Expenses$ 11,050
=NOI$ 31,610
Financial Summary
CAP Rate3.5 %
GRM$ 21.10
$/Unit$ 300,000.00
Expense/Unit$ 3,683.33
Approx $/SF$ 398.23
Asset Class Information
# Units Beds/Baths Avg SqFT
2 1Bed/1Bath 700
1 2Bed/1Bath 860
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors2
# of Units3
Total Building Sq/ft2,260
Net Rentable Area2,260
Lot Sq/ft4,482
Acres0.1
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
VicinityBallard
Market AreaFremont/Ballard
Tax ID #1176001284
ZoningNC1-30
Construction
Year Built1962

Ballard Triplex

Public Comments: Charming, well located, triplex is situated just off Market Street across from the Hiram M. Chittenden Locks. 1BD units are large and feature a unique two-level lofted floorplan that is open and airy with great natural light and original hardwood floors. Units are individually metered for electric. Building has newer roof, updated vinyl windows, and upgraded electrical panels. Common laundry room and on-site parking with space for four. The building sits on an approximately 4,482 square foot lot that is zoned NC1-30 which allows for a multitude of future redevelopment options. This apartment offers a new investor the opportunity to purchase an attractive, turn-key asset located in one of Seattle’s strongest rental sub markets.

Showing Instructions: Tenants are unaware of sale. Do not disturb tenants.

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