1417 E Howell Apartments

1417 E Howell St Seattle WA 98122

Listing #: 594752 | Status: Sold | Closing Date: 12/03/2018 | Last Modified: 12/5/2018 |

For Sale

1417 E Howell St Seattle WA 98122

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Curran Hagstrom

(206) 505-9426
curran@westlakeassociates.com

Collin Hagstrom

(206) 505-9436
hagstrom@westlakeassociates.com

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Price
Listing Price$ 2,600,000
$/SF$ 651.30
$/Unit$ 325,000.00
Listing StatusSold
Days On Market285
Asset ClassMulti-Family
Closed Sales Only
Actual Sold Price$ 3,800,000
$/SF$ 951.90
Closing Date12/03/2018
Investment Information
Investment TypeActual
Investment PropYes
Gross Income$ 160,020
Vacancy Factor %3.00%
Operating Expenses$ 45,094
Net Operating Income$ 110,125
CAP Rate4.24 %
GRM17.01
Documents (Num of Years Available)
YTD Operating StatementYes
Annual Expense Information
Expense Year2017/2018
Real Estate Taxes$ 21,704
+Insurance$ 2,400
+Water/Sewer$ 10,830
+Res. Mgr$ 3,360
+Maintenance$ 4,800
+Other Expenses$ 2,000
=Total Exp.$ 45,094
Annual Operating Information
Gross Sch Rents$ 152,820.00
Vacancy $$ 4,801.00
+Laundry Income$ 0
+Parking Income$ 0
+Other Income$ 7,200
=Effective Gross$ 155,219
-Total Expenses$ 45,094
=NOI$ 110,125
Financial Summary
CAP Rate4.24 %
GRM$ 17.01
$/Unit$ 325,000.00
Expense/Unit$ 5,636.75
Asset Class Information
# Units Beds/Baths Avg SqFT
8 1Bed/1Bath 499
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors2
# of Units8
Total Building Sq/ft3,992
Net Rentable Area3,992
Lot Sq/ft6,285
Acres0.14
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
Market AreaCapitol Hill/First Hill
Tax ID #3483000060
Additional Parcels3483000010, 3483000020, 3483000030, 3483000040, 3483000050, 3483000070, 3483000080
Construction
Year Built1925

Turn-Key Investment on Capitol Hill

Public Comments: Turn-key 8 unit condo-conversion currently operating as apartments in prime Capitol Hill location. Walk, bus, or bike to Pike/Pine, Broadway, 15th Ave, downtown, SLU in minutes. All charming 1 bedroom, 1 bath units with nice updating done in the early 2000s- new kitchens, baths, floors, and private laundry in each unit. Updated systems- electric heat, electric H20. All 8 units with separate tax parcels make for multiple exit strategies- sell as an apartment property or individually as condos. 6,285 SF LR3 Urban Village lot.

Showing Instructions: Viewing with signed PSA only. Offers to be reviewed upon receipt.

Listing Images

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