Ascona

200 5th Ave S Seattle WA 98104

Listing #: 585623 | Status: Sold | Closing Date: 10/12/2017 | Last Modified: 10/12/2017 |

For Sale

200 5th Ave S Seattle WA 98104

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Casey Zejdlik

(206) 566-6599
casey@pilotnw.com

Jason Kono

(206) 566-6595
jason@pilotnw.com

Pilot Ventures

(206) 566-6600

Listing Information
Price
Listing Price$ 11,150,000
$/SF$ 456.18
$/Unit$ 195,614.04
Listing StatusSold
Days On Market152
Asset ClassMulti-Family
Closed Sales Only
Actual Sold Price$ 11,250,000
$/SF$ 278.33
Closing Date10/12/2017
Selling BrokerCasey Zejdlik
Investment Information
Investment TypeActual
Investment PropYes
Gross Income$ 711,732
Vacancy Factor %4.00%
Operating Expenses$ 221,663
Net Operating Income$ 461,599
CAP Rate4.1 %
GRM15.67
Documents (Num of Years Available)
Profit/Loss Years2
YTD Operating StatementYes
Financing AvailableYes
Multi-Family Asset Class General Information
Common LaundryYes
Num Dishwashers57
Annual Expense Information
Expense Year2016
Real Estate Taxes$ 12,217
+Account/Legal$ 5,401
+Insurance$ 19,770
+Water/Sewer$ 61,831
+Prof. Mgr$ 31,437
+Res. Mgr$ 30,920
+Maintenance$ 45,821
+Other Expenses$ 26,122
=Total Exp.$ 233,519
Annual Operating Information
Gross Sch Rents$ 711,732.00
Vacancy %4.00%
+Laundry Income$ 5,154
+Other Income$ 6,702
=Effective Gross$ 723,588
-Total Expenses$ 233,519
=NOI$ 490,069
Financial Summary
CAP Rate4.1 %
GRM$ 15.67
$/Unit$ 195,614.04
Expense/Unit$ 3,888.82
Asset Class Information
# Units Beds/Baths Avg SqFT
52 Studio 427
5 1Bed/1Bath 488
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors5
# of Units57
Total Building Sq/ft40,420
Net Rentable Area24,442
Lot Sq/ft7,200
Acres0.17
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
Market AreaPioneer Square
Tax ID #9820700090
Parking Information
# Covered Spaces0
# Uncovered Spaces0
Total Parking Spots0
Construction
Year Built1910
SprinklersYes
Construction TypeMasonry

Classic Brick 57 unit in Pioneer Square

Public Comments: Ascona is a 57 unit classic brick building on the border of Pioneer Square and the International District. The building was originally built in 1910 but has undergone a significant amount of renovation and capital improvements over the past three decades. All systems of the building are updated including copper plumbing, electrical, a new elevator in 2009 and a newer torchdown roof. As of 2010, over $1 million was spent on unit renovations and common area improvements. In addition, the building was fully earthquake retrofitted in Q2 of 2017.

Showing Instructions: CALL FOR OFFERS: THURSDAY, JUNE 1, 2017 at 11:00am

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