$1,235,000
SW Lander Street, Seattle, 98116
4511 SW Lander Street , Seattle, WA 98116
An opportunity for an investor to acquire an existing triplex zoned NR3, offering the ability to build a 1,000-square-foot DADU on the west side of the lot, increasing the stabilized cap rate to 9.28%. Current operations at the North Admiral Triplex produce an average monthly rent of $1,617 per unit. This submarket can support a higher rent of $2,550 per unit. A new buyer can realize this upside on the Triplex by fully renovating each unit and installing washers and dryers in the apartments, with a proposed cost of $150,000. The proposed ADU (buyer to verify feasibility) can achieve a rent of $3,600 and the proposed cost to construct is $350,000. Upon completion of the DADU, the new income stream equates to a 9.28% Capitalization Rate.
Listing Courtesy of
Blake Investment Advisors
Source Northwest MLS
Media
- Photos
PROPERTY DETAILS
- Mls Id2133436
- StatusActive
- AreaNorth Admiral
- CarportNo
- CitySeattle
- CountyKing
- Exterior FeaturesWood, Wood Products
- FireplaceNo
- High School DistrictSeattle
- Living Area0 Square Feet
- Lot Acres0.124
- Lot Square Feet5400
- New ConstructionNo
- Zip Code98116
- Property TypeMulti-Family
- RoofComposition
- SewerSewer Connected
- WaterfrontNo
- Year Built1910
- Checked For Updates2024-05-13 21:01:30 PDT
Based on information submitted to the MLS GRID as of 2024-05-13 21:01:30 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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