Greenwood Inn

9030 Greenwood Ave N Seattle WA 98103

Listing #: 595250 | Status: Sold | Closing Date: 05/22/2018 | Last Modified: 5/29/2018 |

For Sale

9030 Greenwood Ave N Seattle WA 98103

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Steve Fischer

(206) 505-9435
fischer@westlakeassociates.com

Tyler Smith

(206) 505-9425
tylersmith@westlakeassociates.com

Westlake Associates, Inc.

(206) 505-9400

Listing Information
Price
Listing Price$ 4,900,000
$/SF$ 502.05
$/Unit$ 213,043.48
Listing StatusSold
Days On Market75
Asset ClassMulti-Family
Closed Sales Only
Actual Sold Price$ 4,815,000
$/SF$ 459.18
Closing Date05/22/2018
Selling BrokerPeter Argeres
Investment Information
Investment PropYes
Gross Income$ 386,124
Vacancy Factor %5.00%
Operating Expenses$ 119,087
Net Operating Income$ 247,730
CAP Rate5.06 %
GRM14.23
Annual Expense Information
Expense Year2017
Real Estate Taxes$ 25,556
+Insurance$ 4,500
+Prof. Mgr$ 18,341
+Res. Mgr$ 11,040
+Maintenance$ 18,400
+Other Expenses$ 41,250
=Total Exp.$ 119,087
Annual Operating Information
Gross Sch Rents$ 344,304.00
Vacancy $$ 19,306.00
+Laundry Income$ 2,100
+Parking Income$ 6,120
+Other Income$ 33,600
=Effective Gross$ 366,818
-Total Expenses$ 119,087
=NOI$ 247,731
Financial Summary
CAP Rate5.06 %
GRM$ 14.23
$/Unit$ 213,043.48
Expense/Unit$ 5,177.70
Asset Class Information
# Units Beds/Baths Avg SqFT
20 Studio 375
2 2Bed/1Bath 850
1 Other 475
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors3
# of Units23
Total Building Sq/ft10,486
Net Rentable Area9,760
Lot Sq/ft9,583
Acres0.22
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
VicinityN Seattle
Market AreaN. Seattle
Tax ID #9465200150
ZoningC1-40
Parking Information
# Covered Spaces0
# Uncovered Spaces22
Total Parking Spots22
Construction
Year Built1962
Construction TypeWood

Public Comments: The Greenwood Inn is a remodeled turn key apartment building located shouting distance from the Greenwood retail core. The building is heavy concentrated on studio style units that function more as an open 1-bed concept. It is comprised 22 apartment uni

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