Sun Hill Motel

8517 Aurora Ave N Seattle WA 98103

Listing #: 603919 | Status: Available | Last Modified: 12/13/2018 |

For Sale

8517 Aurora Ave N Seattle WA 98103

Agent Information
Showing Instructions
Call Listing AgentYes
Use DiscretionYes

David Petersen

(206) 623-8413
dwp@paragonrea.com

Conor Barclay

(206) 812-9124
conor@paragonrea.com

Paragon Real Estate Advisors

(206) 623-8880

Listing Information
Price
Listing Price$ 3,200,000
$/SF$ 408.48
Listing StatusAvailable
Days On Market36
Asset ClassHotel/Motel
TermsCash Out
Investment Information
Investment TypeProforma
Investment PropYes
Gross Income$ 889,200
Vacancy Factor %25.00%
Operating Expenses$ 338,252
Net Operating Income$ 328,648
CAP Rate10.27 %
Detail Listing Information
Min Total SF7,840
Max Total SF7,840
Total Units26
Building Characteristics
Rooms Avg Rate Num Units
Studio
1Bed/1Bath
1Bed/2.5Bath
2Bed/1Bath
2Bed/1.5Bath
2Bed/2Bath
3Bed/1Bath
3Bed/1.5Bath
3Bed/2Bath
Other
Single Wide
Double Wide
Triple Wide
Single 95 26
Double
Economy
Suites
RV Spaces
Park-Owned
Mortgaged
Total
Free & Clear
Other
Other
Total
1Bed/1.5Bath
Utilities
Phone SystemYes
Financial Details
Expense Year2018
+ Room Revenue$ 889,200.00
= Gross Income$ 889,200
Operating Information
= Total Exp$ 338,252
Net Operation Inc$ 328,648.00
- Debt Service$ 123,684.00
= Cash Flow$ 204,965.00
Amenities
Structure on SiteYes
Property Information
Building Information
Building StatusExisting
# of Buildings1
# of Floors1
# of Units26
Total Building Sq/ft7,834
Net Rentable Area7,834
Lot Sq/ft18,870
Acres0.43
Property Type
Property TypeHotel/Motel
Location
CountyKing
VicinityGreenwood/Greenlake
Market AreaGreenlake
Tax ID #6046400805
ZoningC1-40
Parking Information
# Uncovered Spaces26
Total Parking Spots26
Construction
Year Built1938
Construction TypeFramed, Wood

Sun Hill Motel Development site

Public Comments: Drive by only, do not enter onto property or contact staff! 26 unit motel bordering the Greenwood and Greenlake. Rare opportunity to acquire a business producing great cash flow, land bank or redevelopment potential. Large 18,870 Sq.Ft. lot zoned C1-40. HALA proposed up zone to NC3-75 with a FAR of 5.50. Increased density and height will allow an investor to capitalize and leverage this convenient and affordable location minutes from the SLU. Proposed HALA upzone could allow up to 200 units.

Showing Instructions: Drive by only. Employees/tenants are unaware of sale. Please use discretion and do not enter on to property or contact staff.

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