1301 Bellevue Way SE, Bellevue, WA 98004

$2,550,000
5,782
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$2,550,000
Status
ACTIVE
MLS#
2238299
Days on Market
9
Style
54 - 4-Plex
Finished SqFt
5,782
Area Total SqFt
5782
Annual Tax Ammount
17289
Lot Size (sq ft)
20,897
Sewer
Sewer Connected
Offer Review Date
2024-05-22

Property Description

This rare opportunity sits on a large 20,897 square foot lot zoned R-10 on a quiet, residential street in one of the most desired cities in the Puget Sound area. The Bellevue Fourplex consists of two large three bedroom two and a half bath townhouse units and two large three bedroom two bath townhouse units ranging in size from 1,339 to 1,552 square feet. One of the four units has just undergone a complete renovation that highlights the upside potential for the other three units. These two-story units have private patios, fireplaces, and in-unit washer and dryer. The zoning presents the opportunity to develop four homes on the property with comparable homes trading around $2.3M each (buyer to verify).

Additional Information

List Date
2024-05-15 20:52:11
Community
Bellevue
Net Operating Income
$54,578
Gross Adjusted Income
$103,653
Gross Scheduled Income
$104,700
Total Monthly Income
$8,725
Insurance Expenses
$4,879
Water/Sewer/Garbage Expenses
$7,907
Gross Rent Multiplier
19.3
Total Expenses
$39,075
Cap Rate
2.5
Vacancy Rate
1
Total Number of Units
4
Unit Name
1301
Potential Terms
Cash Out, Conventional
Year Built
1980
Roof
Built-Up
Other Expenses
9000
Energy Source
Electric
School District
Bellevue
Total Monthly Income
$8,725
Gross Scheduled Income
$104,700
Vacancy Rate
1
Gross Adjusted Income
$103,653
Tax Year
2023
Insurance Expense
$4,879
W/S/G Expenses
$7,907
Total Expenses
$39,075
Net Operating Income
$54,578
Gross Rent Multiplier
19.3
Cap Rate
2.5
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