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Highland Terrace
14520 Phinney Ave N Shoreline WA 98133
Listing #: 659167 | Status: Available | Last Modified: 4/17/2023
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 304,934 |
| Vacancy Factor % | 4.08% |
| Operating Expenses | 93,435 |
| Net Operating Income | 199,048 |
| CAP Rate | 5.29 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Total Units | 15 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Financial Summary | |
|---|---|
| CAP Rate | 5.287 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 2 |
| # of Units | 15 |
| Total Building SF | 12,910 SF |
| Net Rentable Area | 12,162 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 17,493 SF |
| Acres | 0.4 |
| Year Built | 1963 |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Investment | Yes |
| Location | |
|---|---|
| County | King |
| Cross Street | 145th St NE |
| Market Area | N. Seattle |
| Tax ID # | 1826049228 |
| Zoning | R48 |
| Parking Information | |
|---|---|
| #Covered Spaces | 0 |
| # Uncovered Spaces | 18 |
| Total Parking Spots | 18 |
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
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
