Landmarc V

811 S 227th Pl Des Moines WA 98198

Listing #: 602786 | Status: Sold | Closing Date: 02/08/2019 | Last Modified: 2/9/2019 |

For Sale

811 S 227th Pl Des Moines WA 98198

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

Andrew Hunter

(425) 375-5200

Chad Gleason, CCIM

(206) 380-3574

Suria Elbietar

(206) 259-5801

SVN Raven Commercial RE Advisors

(206) 353-6357

Listing Information
Listing Price$ 2,150,000
$/SF$ 157.09
$/Unit$ 238,888.89
Listing StatusSold
Days On Market121
Asset ClassMulti-Family
Closed Sales Only
Actual Sold Price$ 1,950,000
$/SF$ 142.48
Closing Date02/08/2019
Selling BrokerAndrew Hunter
Selling OfficeSVN Raven Commercial RE Advisors (1005180)
Investment Information
Investment TypeProforma
Investment PropYes
1031 ExchangeYes
Gross Income$ 167,546
Vacancy Factor %5.00%
Operating Expenses$ 46,219
Net Operating Income$ 112,949
CAP Rate5.25 %
Documents (Num of Years Available)
Profit/Loss Years2017, 2016
YTD Operating StatementYes
Financing AvailableYes
Financial Summary
CAP Rate5.25 %
$/Unit$ 238,888.89
Expense/Unit$ 5,135.44
Asset Class Information
# Units Beds/Baths Avg SqFT
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors3
# of Units9
Total Building Sq/ft13,686
Net Rentable Area13,686
Lot Sq/ft21,823
Property Type
Property TypeMulti-Family
Location Description9 unit apartment building with sound views
Cross StreetMarine View Drive
Market AreaDes Moines
Tax ID #2011400620
Parking Information
# Covered Spaces0
# Uncovered Spaces22
Total Parking Spots22
Year Built1975

Land Marc V Apartments in Des Moines

Public Comments: The Landmarc V, a 9 unit apartment building available in vibrant downtown Des Moines. The building’s location offers a foothold in the downtown core of growing Des Moines, a neighborhood which boasts an off the charts walk score with ample bars, restaurants, and grocery stores close by. Downtown Seattle accessible by mass transit and future light rail stations. The area has seen tremendous growth over the past few years and will continue to grow with the addition of a 2 million sqft office park with 1,500 FAA employees as main tenant. The large units offer full kitchens along with oversized windows and balconies to take in the view of the Puget Sound. The building features over 20 parking spaces and 2 on-site laundry facilities.

Showing Instructions: Showing can be scheduled with listing agent. Drivebys encouraged.

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