Wimbledon Apartments

411 6th Ave N Edmonds WA 98020

Listing #: 588062 | Status: Pending | Last Modified: 10/18/2017 |

For Sale

411 6th Ave N Edmonds WA 98020

Agent Information
Showing Instructions
Call Listing AgentNo
Use DiscretionNo

Travis Kannier

(206) 505-9428
travisk@westlakeassociates.com

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Price
Listing Price$ 1,500,000
$/SF$ 283.77
$/Unit$ 375,000.00
Listing StatusPending
Days On Market143
Asset ClassMulti-Family
Investment Information
Investment PropYes
Gross Income$ 64,860
Vacancy Factor %3.00%
Operating Expenses$ 18,558
Net Operating Income$ 44,356
CAP Rate3.0 %
GRM23.13
Annual Expense Information
Expense Year2017
Real Estate Taxes$ 7,558
+Insurance$ 2,000
+Water/Sewer$ 4,000
+Maintenance$ 3,000
+Other Expenses$ 2,000
=Total Exp.$ 18,558
Annual Operating Information
Gross Sch Rents$ 64,860.00
Vacancy %3.00%
=Effective Gross$ 64,860
-Total Expenses$ 18,558
=NOI$ 46,302
Financial Summary
CAP Rate3.0 %
GRM$ 23.13
$/Unit$ 375,000.00
Expense/Unit$ 4,639.50
Asset Class Information
# Units Beds/Baths Avg SqFT
4 2Bed/2Bath 1321
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors2
# of Units4
Total Building Sq/ft5,286
Net Rentable Area5,286
Lot Sq/ft6,534
Acres0.15
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountySnohomish
Market AreaEdmonds
Tax ID #434202501200
Construction
Year Built1991

Public Comments: Built in 1991 & on the market for the first time, the building is constructed of wood frame, stucco siding & metal roofs. The lot is 6,534 SF & each of the units are 2 bed | 2 bath that are approx. 1,300 SF. Large kitchens with dining nooks, living areas, balconies/decks, W/D, separate entrance way, underground secure parking & storage, fireplaces, copper plumbing & an interior vacuum system. The building has the look & feel of condominiums & is a perfect owner/user investment or long term hold.

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