Gallaway Apartments

1126 N 90th St Seattle WA 98103

Listing #: 583893 | Status: Available | Last Modified: 4/25/2017 |

For Sale

1126 N 90th St Seattle WA 98103

Agent Information
Showing Instructions
Call Listing AgentNo
Use DiscretionNo

Mace Erickson

(206) 334-6163
mace@westlakeassociates.com

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Price
Listing Price$ 2,649,000
$/SF$ 562.90
$/Unit$ 331,125.00
Listing StatusAvailable
Days On Market35
Asset ClassMulti-Family
Investment Information
Investment TypeActual
Investment PropYes
Gross Income$ 168,444
Vacancy Factor %3.00%
Operating Expenses$ 31,078
Net Operating Income$ 132,312
CAP Rate5.0 %
GRM15.73
Multi-Family Asset Class General Information
Num Dishwashers8
Annual Expense Information
Expense Year2016
Real Estate Taxes$ 1,332
+Insurance$ 2,650
+Electricity$ 3,360
+Water/Sewer$ 9,410
+Res. Mgr$ 4,432
+Maintenance$ 9,894
=Total Exp.$ 31,078
Annual Operating Information
Gross Sch Rents$ 168,444.00
Vacancy %3.00%
=Effective Gross$ 168,444
-Total Expenses$ 31,078
=NOI$ 137,366
Financial Summary
CAP Rate5.0 %
GRM$ 15.73
$/Unit$ 331,125.00
Expense/Unit$ 3,884.75
Approx $/SF$ 562.90
Asset Class Information
# Units Beds/Baths Avg SqFT
8 1Bed/1Bath 588
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors4
# of Units8
Total Building Sq/ft4,706
Net Rentable Area4,706
Lot Sq/ft3,290
Acres0.08
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
Market AreaGreenlake
Tax ID #9524100370
Green Building
Energy Star CertificationYes
Construction
Year Built2015

Public Comments: The Galloway Apartments consist of eight 1 bed 1 bath units. Built 4 Star Green and are exempt from property tax until June 2028 (MTFE program). Units have large open floor plans, state of the art modern finishes including granite counters, driftwood style flooring, floor-to-ceiling windows, stainless steel appliances, tile backsplashes, air conditioning and in-unit washers and dryers. Located in Licton Springs, a 7 block walk from Green Lake and a few minutes to downtown and Northgate Mall.

Public Building Comments: The Gallaway Apartments are new construction, Built Green in 2015 with large open floor plans, state of the art modern finishes including granite counters, driftwood style flooring, floor-to-ceiling windows, stainless steel appliances, tile backsplashes, air conditioning and in-unit washers and dryers. Located in Licton Springs, the apartments are just a 10 minute walk from Green Lake and a few minutes to downtown Seattle and Northgate Mall.

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