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Listing 9 out of 2,217
$10,500,000 Pending

1422 Boylston Ave
Seattle, WA 98122

23 units | Multi Family Home
7667 sq ft lot - MLS# 1470592 Courtesy of Realogics Sotheby's Int'l Rlty
Property Photo
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Description

The Montage Condominiums located in one of Seattle's most desirable neighborhoods, the bustling Pike/Pine corridor in Capitol Hill. Own 23 legal condominiums currently operated as an apartment building. Increasing rents just $100 per unit, implementing market rate charges for parking income & recapturing utility expenses generates a market cap rate of roughly 4.57%. Total est. market value of these sellable units are about 28% higher than the current offering price. 1:1 parking & storage ratio.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • County/Area: King County
  • Zip Code: 98122
  • Year Built: 2007
  • School District: Seattle
  • Units: 23 units
  • Garage: 4+-Car
  • # of Parking Spaces: 23, 23
  • Lot Size: 7667 sq ft lot
  • View: City, Mountain, Territorial
  • Area: Capitol Hill
  • Area Number: 390
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 2.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Bedrooms Unit 1: 1
  • Bedrooms Unit 2: 1
  • Bedrooms Unit 3: 1
  • Bedrooms Unit 4: 2
  • Bedrooms Unit 5: 1
  • Bedrooms Unit 6: 1
  • Cap Rate - NOI div LP: 3.88
  • Energy Source(heat): Electric, Natural Gas
  • Exterior: Cement/Concrete, Metal/Vinyl, Wood Products
  • Floor Covering: Ceramic Tile, Hardwood, Wall to Wall Carpet
  • Gross Adjusted Income: $571291
  • Gross Scheduled Income: $588960
  • Heating/Cooling: Baseboard, Forced Air
  • Insurance Expenses: $9100
  • Lot Details: Alley, Curbs, Paved Street, Sidewalk
  • Net Operating Income: $407005
  • Number of Stories in Building: 7
  • Rent Unit 1: $1945
  • Rent Unit 2: $1950
  • Rent Unit 3: $1800
  • Rent Unit 4: $2575
  • Rent Unit 5: $2000
  • Rent Unit 6: $1950
  • Roof: Flat
  • Site Features: Cable TV, Deck, High Speed Internet, Patio
  • Square Feet Unit 1: 868
  • Square Feet Unit 2: 716
  • Square Feet Unit 3: 742
  • Square Feet Unit 4: 937
  • Square Feet Unit 5: 727
  • Square Feet Unit 6: 868
  • Total Expenses: $86855, $86855
  • Total Garage Capacity: 23
  • Total Monthly Income: $49080
  • Vacancy Rate: 3
  • Water Source: Public
Courtesy of Realogics Sotheby's Int'l Rlty
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website is provided courtesy of NorthWest MLS. Real estate listings held by brokerage firms other than Windermere Real Estate Lake Tapps Inc. and Windermere Real Estate PSK are marked with the three trees logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-09-17

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Ken Freed
Windermere Real Estate
PSK, Inc
35 years experience
Residential - Commercial
Serving Puget Sound
Phone: 206-605-3530
Email: kenfreed@msn.com
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