Andover Apartments

4000 California Ave SW Seattle WA 98116

Listing #: 600236 | Status: Pending | Last Modified: 10/1/2018 |

For Sale

4000 California Ave SW Seattle WA 98116

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionNo

Michael McQuaid

(206) 948-1846
mem@mcquaidre.com

McQuaid Commercial Real Estate

(206) 270-8880

Listing Information
Price
Listing Price$ 2,100,000
$/SF$ 342.08
$/Unit$ 300,000.00
Listing StatusPending
Days On Market87
Asset ClassMulti-Family
Termsall cash on closing
Investment Information
Investment PropYes
Gross Income$ 115,740
Vacancy Factor %3.00%
Operating Expenses$ 32,998
Net Operating Income$ 79,269
CAP Rate3.77 %
GRM18.14
Utilities
Sanitary Sewer City
Water City
Electricity City
Storm Sewer City
Gas Lines City
Multi-Family Asset Class General Information
Num of Units w/Patios7
Num of Units w/Fireplaces0
Common LaundryYes
Num Dishwashers7
Annual Expense Information
Expense Year2018
Real Estate Taxes$ 15,548
+Insurance$ 1,768
+Water/Sewer$ 7,682
+Maintenance$ 6,400
=Total Exp.$ 31,398
Reserves$ 1,600
Annual Operating Information
Gross Sch Rents$ 115,740.00
Vacancy $$ 3,472.00
+Laundry Income$ 150
+Other Income$ 70
=Effective Gross$ 112,488
-Total Expenses$ 31,398
=NOI$ 81,090
Financial Summary
CAP Rate3.77 %
GRM$ 18.14
$/Unit$ 300,000.00
Expense/Unit$ 4,714.00
Asset Class Information
# Units Beds/Baths Avg SqFT
4 1Bed/1Bath 650
3 2Bed/1Bath 1100
Associated Files
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors3
# of Units7
Total Building Sq/ft6,779
Net Rentable Area6,139
Lot Sq/ft5,750
Acres0.13
Property Type
Property TypeMulti-Family
InvestmentYes
Location
CountyKing
VicinityWest Seattle
Market AreaWest Seattle
Tax ID #0952002065
ZoningL3 RC
Construction
Year Built1966
Construction TypeFramed, Wood

great condition, great area

Public Comments: very well maintained super low maintenance with large units in a great area of West Seattle. Has potential upside with unrented garage with toilet. All water heaters are on ground floor. there is space within each apartment that could accommodate w/d too.

Showing Instructions: tenants are unaware of sale

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