Green Lake Triplex

7422 E Green Lake Dr N Seattle WA 98115

Listing #: 590340 | Status: Sold | Closing Date: 10/27/2017 | Last Modified: 11/1/2017 |

For Sale

7422 E Green Lake Dr N Seattle WA 98115

Agent Information
Showing Instructions
Call Listing AgentNo
Use DiscretionYes

Mike Marinella

(206) 505-9431

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Listing Price$ 1,500,000
$/SF$ 436.05
$/Unit$ 500,000.00
Listing StatusSold
Days On Market24
Asset ClassMulti-Family
Closed Sales Only
Actual Sold Price$ 1,594,125
$/SF$ 450.32
Closing Date10/27/2017
Investment Information
Investment PropYes
Gross Income$ 75,300
Vacancy Factor %1.00%
Operating Expenses$ 24,055
Net Operating Income$ 50,492
CAP Rate3.37 %
Multi-Family Asset Class General Information
Num of Units w/Patios1
Num of Units w/Fireplaces1
Common LaundryYes
Num Dishwashers3
Annual Expense Information
Real Estate Taxes$ 11,939
+Insurance$ 2,705
+Water/Sewer$ 5,980
+Other Expenses$ 3,431
=Total Exp.$ 24,055
Annual Operating Information
Gross Sch Rents$ 74,400.00
Vacancy %1.00%
+Other Income$ 900
=Effective Gross$ 75,300
-Total Expenses$ 24,055
=NOI$ 51,245
Financial Summary
CAP Rate3.37 %
GRM$ 20.16
$/Unit$ 500,000.00
Expense/Unit$ 8,018.33
Asset Class Information
# Units Beds/Baths Avg SqFT
2 2Bed/2Bath 1130
1 3Bed/2Bath 1180
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors3
# of Units3
Total Building Sq/ft3,540
Net Rentable Area3,440
Lot Sq/ft4,842
Property Type
Property TypeMulti-Family
Market AreaGreenlake
Tax ID #2883200040
Year Built1973

Public Comments: Offers to be reviewed 10/11/2017 at 1:00 pm. For sale by original owner, first time on the market. Prime location across from Green Lake and a short walk to Starbucks, numerous restaurants, boutique shops, clubs, PCC and other North Green Lake retail. Only ½ block to the bus stop, ¾ mile to the future Roosevelt Light Rail Station, 1.8 miles to the University of Washington and 5 miles to South Lake Union via Highway 99 which offers direct access without I-5’s frequent traffic congestion. Large units with patios or decks, five surface parking stalls with room for an additional 5 tandem spaces. Current rents are low with additional upside through updating the units (two units are month-to-month). Please do not disturb the tenants.

Showing Instructions: Access to interior of property only available after mutual acceptance. Please do not disturb tenants. No sign per seller's request.

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