Highland Terrace

14520 Phinney Ave N Shoreline WA 98133

Listing #: 659167 | Status: Available | Last Modified: 4/17/2023

Showing Instructions
Call Listing AgentNo
Use DiscretionNo
Investment Information
Investment PropYes
Gross Income304,934
Vacancy Factor %4.08%
Operating Expenses93,435
Net Operating Income199,048
CAP Rate5.29 %
Detail Listing Information
Min Total SF0 SF
Max Total SF0 SF
Lease Rate Low$ 0.00
Lease Rate High$ 0.00
Total Units15
Retail Information
SignageSignage on Building and Freestanding
Financial Summary
CAP Rate5.287
Building Information
Building StatusExisting
# of Buildings1
# of Floors2
# of Units15
Total Building SF12,910 SF
Net Rentable Area12,162 SF
Total Office SF0 SF
Largest Contiguous SF0 SF
Lot SF17,493 SF
Year Built1963
Property Type
Property TypeMulti-Family
Cross Street145th St NE
Market AreaN. Seattle
Tax ID #1826049228
Parking Information
#Covered Spaces0
# Uncovered Spaces18
Total Parking Spots18

Highland Terrace Apartments

Public Comments

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

Public Building Comments

15 Units located in growing area near Central Market of Aurora Square

Highland Terrace
14520 Phinney Ave N Shoreline WA 98133

Listing #: 659167 | Status: Available | Listing Date: 11/8/2022 | Last Modified: 4/17/2023 | Email Listing

For Sale

Highland Terrace

Listing Images