850 Front Street S, Issaquah, WA 98027

$2,500,000
9,280
SqFt

Listing courtesy of Windermere Real Estate/East.

List Price
$2,500,000
Status
ACTIVE
MLS#
2030714
Days on Market
87
Style
56 - 10+ Units
Building Condition
Average
Finished SqFt
9,280
Area Total SqFt
9280
Annual Tax Ammount
26239
Lot Size (sq ft)
23,579
Sewer
Septic Tank

Property Description

The Colby Apartments 10-Unit Complex. Solid investment venture with current income & Value Added Opportunities. Great opportunity for investors who recognize current value w/under market rents; Ability to make improvements to existing units, creating additional income value. Large 2nd vacant lot creates more options for potential development. Located just south of downtown Issaquah. Fully rented units. High rental demand area for employees of nearby Costco Headquarters, Swedish Hospital, Microsoft etc. Forested areas & paths to downtown Issaquah create an ideal living space for access to work, town and the outdoors! Take advantage now and discover for yourself this remarkable opportunity!

Additional Information

List Date
2022-11-01 21:56:10
Community
Issaquah
Net Operating Income
$68,359
Gross Adjusted Income
$127,680
Gross Scheduled Income
$127,680
Total Monthly Income
$10,643
Insurance Expenses
$8,569
Water/Sewer/Garbage Expenses
$6,713
Gross Rent Multiplier
19.58
Total Expenses
$59,321
Cap Rate
2.73
Total Number of Units
10
Unit Name
850
Potential Terms
Cash Out, Conventional
Year Built
1962
View
Territorial
Roof
Torch Down
Heating/Cooling Type
Baseboard
Electric Expenses
1076
Other Expenses
16724
Energy Source
Electric
School District
Issaquah
Elementary School
Clark Elem
Middle School
Issaquah Mid
High School
Issaquah High
Total Monthly Income
$10,643
Gross Scheduled Income
$127,680
Gross Adjusted Income
$127,680
Tax Year
2022
Insurance Expense
$8,569
W/S/G Expenses
$6,713
Total Expenses
$59,321
Net Operating Income
$68,359
Gross Rent Multiplier
19.58
Cap Rate
2.73
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