936 N 198th St
Shoreline WA 98133
Encore Apartments
936 N 198th St Shoreline WA 98133
Listing #: 659142 | Status: Available | Last Modified: 2/21/2023 |
For Sale
- Phone:(206) 300-8909
- Email:david@westlakeassociates.com
- Office Name:Westlake Associates, Inc.
- Office Phone:(206) 505-9400
- Office Website:
- Agent Phone:(206) 812-9137
- Agent Email:chad@westlakeassociates.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 3,000,000.0
- $/SF$ 357.1
- $/Unit$ 250,000.0
- Listing StatusAvailable
- Days on Market135
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income236,851
- Vacancy Factor %4.09%
- Operating Expenses78,251
- Net Operating Income148,903
- CAP Rate 5.29 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units12
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.29 % }
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units12
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF8400
- Net Rentable Area
- Total Office SF
- Largest Contiguous SF
- Lot SF17761
- Acres0.41
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaN. Seattle
- Tax ID #2227900075
- Additional Parcels
- ZoningR24
- Year Built1962
- Year Renovated
- Completion Date
- Roof Type
- Construction TypeBrick
The Encore Apartments
Westlake Associates, Inc. is pleased to exclusively offer for sale the “Encore Apartments” located in the popular City of Shoreline. The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents and get this building to a 5.94% CAP Rate. If they decided to fully renovate each unit, a new investor could get to a 6.59% CAP Rate.
