Turnkey Georgetown Multifamily Investment with Immediate Income & Upside Excellent opportunity to acquire a stabilized, income-producing four-unit property in the heart of Georgetown. The property consists of one non-conforming studio, two 1-bedroom/1-bathroom units, and one 2-bedroom/1-bathroom unit. All units were renovated approximately five years ago with updated kitchens, hard-surface flooring, modern fixtures, and refreshed finishes, minimizing near-term capital improvement needs. The property has been carefully maintained and provides investors with immediate cash flow plus additional value-add potential. Investment Highlights: * Purchase Price: $1,379,000 * Gross Annual Income: $90,000 * Annual Expenses: $21,204 * NOI: $68,796 * Cap Rate: 5%. Increase the rent and change this to 7.5% * Renovated and well-maintained units * Upside potential through future rent increases * Additional potential income from storage * Seller concession available through CMG Home Loans, subject to lender terms and buyer qualification, Diane Haag, 425-444-8484. With a nearly 5% cap rate, renovated units, and identifiable opportunities to increase revenue, this property offers investors an attractive combination of current cash flow, limited near-term capital needs, and long-term appreciation potential in Seattle's Georgetown neighborhood.
| MLS # | 2542292 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1908 |
| Days On Site | 86 |
| Listing Provided By | Skyline Properties, Inc. | Amir Rashidi |
| SQ Feet | 2,910 |
|---|---|
| Story(s) | 3 |
| Units | 4 |
| Zoning | Multi-Family |
| Acreage | 0.07 |
| Property | 9024 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98108 |
| Area | 385 SODO | Beacon Hill |
| Community Name | Georgetown |
| Listing VS Median (in Georgetown) | |
Price: $1,379,000 low | high Med: $579,975 sqft: 2,910 low | high Med: 1,415 $ / sqft: $474 low | high Med: $426 On site: 86 low | high Med: 27.5 | |
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98108 |
| Area | 385 SODO | Beacon Hill |
| Community Name | Georgetown |
| Listing VS Median (in Georgetown) | |
Price: $1,379,000 low | high Med: $579,975 sqft: 2,910 low | high Med: 1,415 $ / sqft: $474 low | high Med: $426 On site: 86 low | high Med: 27.5 | |