Finnigan Apartments

530 Bell St Edmonds WA 98020

Listing #: 591543 | Status: New | Last Modified: 11/15/2017 |

For Sale

530 Bell St Edmonds WA 98020

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Tyler Smith

(206) 505-9425
tylersmith@westlakeassociates.com

Steve Fischer

(206) 505-9435
fischer@westlakeassociates.com

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Price
Listing Price$ 3,400,000
$/SF$ 499.93
$/Unit$ 309,090.91
Listing StatusNew
Days On Market18
Asset ClassMulti-Family
Investment Information
Investment PropYes
Gross Income$ 206,136
Vacancy Factor %5.00%
Operating Expenses$ 52,518
Net Operating Income$ 143,311
CAP Rate4.2 %
GRM17.43
Annual Expense Information
Expense Year2017
Real Estate Taxes$ 14,342
+Insurance$ 3,025
+Prof. Mgr$ 7,836
+Res. Mgr$ 2,400
+Maintenance$ 8,250
+Other Expenses$ 16,665
=Total Exp.$ 52,518
Annual Operating Information
Gross Sch Rents$ 195,120.00
Vacancy %5.00%
+Parking Income$ 3,600
+Other Income$ 7,500
=Effective Gross$ 206,220
-Total Expenses$ 52,518
=NOI$ 153,702
Financial Summary
CAP Rate4.2 %
GRM$ 17.43
$/Unit$ 309,090.91
Expense/Unit$ 4,774.36
Asset Class Information
# Units Beds/Baths Avg SqFT
1 Studio 440
8 1Bed/1Bath 602
2 Other 608
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors3
# of Units11
Total Building Sq/ft6,801
Net Rentable Area6,801
Lot Sq/ft6,098
Acres0.14
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountySnohomish
Market AreaEdmonds
Tax ID #00434202101000
Parking Information
# Covered Spaces8
# Uncovered Spaces6
Total Parking Spots14
Construction
Year Built1962
Year Renovated2017
Construction TypeConcrete, Stucco

Public Comments: Fantastic building that has had several updates. Turnkey building with additional upside in rents. (2) office spaces, (1) studio apartment and (8) 1 bedroom units.

Showing Instructions: Showing by appointment, please call listing office.

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