14520 Phinney Ave N
Shoreline WA 98133
Highland Terrace
14520 Phinney Ave N Shoreline WA 98133
Listing #: 659167 | 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$ 4,000,000.0
- $/SF$ 328.9
- $/Unit$ 266,666.7
- Listing StatusAvailable
- Days on Market135
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income304,934
- Vacancy Factor %4.08%
- Operating Expenses93,435
- Net Operating Income199,048
- CAP Rate 5.29 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units15
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.29 % }
- Building StatusExisting
- # of Buildings1
- # of Floors2
- # of Units15
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF12910
- Net Rentable Area12162
- Total Office SF
- Largest Contiguous SF
- Lot SF17493
- Acres0.4
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street145th St NE
- Market AreaN. Seattle
- Tax ID #1826049228
- Additional Parcels
- ZoningR48
- # Covered Spaces0
- # Uncovered Spaces18
- Total Parking Spots18
- Parking Ratio
- Year Built1963
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Highland Terrace Apartments
Westlake Associates, Inc. is proud to exclusively offer for sale the “Highland Terrace Apartments” located in the popular City of Shoreline. Conveniently located just North of Seattle City limits, the Highland Terrace Apartments offers a new investor a great value add opportunity with the flexibility of raising below market rents without the hassles and constraints of Seattle Landlord/Tenant laws. This is the first time the property has hit the market in over 15 years. The value add here is to renovate all units with modern finishes, raise rents to market and implement a RUBS program to start billing back tenants for utilities. There’s also great potential to add in-unit washers and dryers in the large existing closets which almost all back up to the plumbing in the bathrooms. In current
15 Units located in growing area near Central Market of Aurora Square
