List Search

617 NW 85th St

Seattle, WA 98117

$1,295,000

Apartments For Sale  •  3,550 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 3,550 Sq Ft
  • Lot Size 0.13 ac
  • Year Built 1954
  • Cap Rate 5.50 %
  • Zoning LR3
55 Transit Score
87 Walk Score

Description

Well located, turn-key, apartment building constructed in 1954. Quick access to the cities employment hubs and most popular neighborhoods and destinations. The property offers the buyer a rare opportunity to purchase a tastefully renovated, stabilized investment property in a growing part of Seattle with further upside in rents and ability to add value. The LR3 zoning offers additional upside through a myriad of redevelopment options from townhomes to small apartment buildings.

Highlights

Tastefully renovated units
Rental upside
Potential for redevelopment
Great Greenwood location

Property Flyers

Financial Summary (Actual)

Net Operating Income: $71,185 (2018)
Cap Rate: 5.50 %

Amenities

  • Fenced Lot
  • Fireplace
  • Laundry Facilities
  • Kitchen
  • Granite Countertops
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Range
  • Carpet
  • Yard
  • Double Pane Windows
  • Loft Layout
  • Patio

Public Transportation

Commuter RailDriveWalkDistance
King Street (Seattle) Station Commuter Rail (Sounder South Line) 16 min - 8.8 mi
AirportDriveWalkDistance
Seattle-Tacoma International Airport 27 min - 21.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 2
Type: Covered
Included in Rent: Yes
Nick Hemming 206-812-9105 Paragon Real Estate Advisors
Nick Hemming 206-812-9105 Paragon Real Estate Advisors