Bought with ZNonMember-Office-MLS
$2,950,000
$2,950,000
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6,750 SqFt
SOLD DATE : 12/01/2021
Key Details
Sold Price $2,950,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,750 sqft
Price per Sqft $437
Subdivision Fremont
MLS Listing ID 1853559
Sold Date 12/01/21
Style 56 - 10+ Units
Year Built 1963
Annual Tax Amount $24,149
Lot Size 7,500 Sqft
Property Description
Located on a corner lot in Seattle's desirable Fremont neighborhood, the Sunnyside Apartments is a value-add apartment community featuring seller financing (to a qualified buyer) and priced at less than $300,000 per unit. With an excellent unit mix of nine one-bedroom units and one three-bedroom unit, the Sunnyside offers tenants spacious open floor plans, ample closet space, and views from select units. While profitable in its current operations, a new operator could likely achieve income upside of approximately 11% with turnover and basic unit remodels. With a more robust value-add strategy that includes updating cabinets and flooring, income could possibly be increased by even more.
Location
State WA
County King
Area 705 - Ballard/Greenlake
Interior
Interior Features Forced Air
Fireplace false
Exterior
Exterior Feature Brick, Cement/Concrete, Stucco
Utilities Available Sewer Connected, Electric
View Y/N Yes
View City, Partial
Roof Type Flat
Building
Lot Description Corner Lot, Curbs, Paved, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Bf Day
Middle Schools Hamilton Mid
High Schools Lincoln High
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional, Owner Financing
Listing Terms Cash Out, Conventional, Owner Financing
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