Terra Apartments

730 N 85th St Seattle WA 98103

Listing #: 590313 | Status: New | Last Modified: 10/20/2017 |

For Sale

730 N 85th St Seattle WA 98103

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

David Petersen

(206) 623-8413
dwp@paragonrea.com

Brian Platt

(206) 812-9130
brianp@paragonrea.com

Paragon Real Estate Advisors

(206) 623-8880

Listing Information
Price
Listing Price$ 6,195,000
$/SF$ 422.29
$/Unit$ 326,052.63
Listing StatusNew
Days On Market18
Asset ClassMulti-Family
TermsCash Out
Investment Information
Investment PropYes
Gross Income$ 439,140
Vacancy Factor %4.00%
Operating Expenses$ 115,406
Net Operating Income$ 306,168
CAP Rate4.9 %
GRM14.11
Detail Listing Information
Min Total SF14,670
Max Total SF14,670
Total Units19
Annual Expense Information
Expense Year2017
Real Estate Taxes$ 30,143
+Account/Legal$ 2,523
+Insurance$ 5,567
+Water/Sewer$ 24,009
+Prof. Mgr$ 16,863
+Res. Mgr$ 9,120
+Maintenance$ 19,392
+Other Expenses$ 7,789
=Total Exp.$ 115,406
Annual Operating Information
Gross Sch Rents$ 439,140.00
Vacancy %4.00%
=Effective Gross$ 439,140
-Total Expenses$ 115,406
=NOI$ 323,734
Financial Summary
CAP Rate4.9 %
GRM$ 14.11
$/Unit$ 326,052.63
Expense/Unit$ 6,074.00
Asset Class Information
# Units Beds/Baths Avg SqFT
12 1Bed/1Bath 650
3 2Bed/1Bath 826
1 3Bed/2Bath 1700
1 Other 2900
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors4
# of Units19
Total Building Sq/ft17,011
Net Rentable Area14,670
Lot Sq/ft14,625
Acres0.34
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
VicinityGreewood
Market AreaGreenlake
Tax ID #6046401170
Parking Information
# Covered Spaces3
Total Parking Spots3
Construction
Year Built1971
Year Renovated2016
Construction TypeFramed, Wood

Terra Apartments

Public Comments: Paragon Real Estate Advisors is pleased to offer for sale the Terra Apartments. Situated in the Greenwood neighborhood just north of the Seattle CBD The Terra Apartments are four blocks from the heart of the Greenwood Business District. This is a rare opportunity for a buyer to purchase a property that has had all the heavy lifting completed with fully updated units and mechanical systems. Highlights include top floor penthouse units, secured access entry, a common bbq area and beautiful views. Perfect for an investor who is in a 1031 Tax Deferred Exchange or buyer who doesn’t want to pay out of their pockets to update a building with significant downtime due to renovations.

Showing Instructions: Tenants are unaware of sale. Do not disturb tenants. Call listing brokers for showing information.

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