2000 Waverly Place N, Seattle, WA 98109

$2,700,000
6,166
SqFt

Listing courtesy of Lee & Associates Commercial RE.

List Price
$2,700,000
Status
ACTIVE
MLS#
2248613
Days on Market
2
Style
55 - 5-9 Units
Building Condition
Good
Finished SqFt
6,166
Area Total SqFt
6166
Annual Tax Ammount
27559
Lot Size (sq ft)
7,600
Sewer
Sewer Connected
Offer Review Date
2024-06-26

Property Description

Waverly Court (WC) is an 8-unit apt building in East Queen Anne. Conveniently located between Fremont, QA, and South Lake Union, WC is walking distance to local amenities & major tech employers such as Meta & Google. Attractive unit mix: One 1x1 & and Seven 2x1 w/ some upper floor units offering peekaboo water views. Avg. size of nearly 800sf, 2 units have updated kitchen and 5 units has LVT flooring. Tenants have access to private common patio, designated parking & common laundry. By updating the units and modernizing the systems and amenities, investors are poised to realize over 27% potential rental upside. WC makes an excellent investment for investors looking to secure a prime location and maximize their returns through value-add play.

Additional Information

List Date
2024-06-10 21:52:11
Community
Westlake
Net Operating Income
$169,060
Gross Adjusted Income
$167,865
Gross Scheduled Income
$176,700
Total Monthly Income
$14,725
Insurance Expenses
$6,000
Water/Sewer/Garbage Expenses
$11,200
Gross Rent Multiplier
15.3
Total Expenses
$63,962
Cap Rate
3.89
Vacancy Rate
5
Total Number of Units
7
Unit Name
2000
Potential Terms
Cash Out, Conventional, Rehab Loan
Year Built
1959
View
Lake, Territorial
Roof
Flat
Site Features
Fenced-Partially, Patio
Other Expenses
19203
Energy Source
Electric
School District
Seattle
Total Monthly Income
$14,725
Gross Scheduled Income
$176,700
Vacancy Rate
5
Gross Adjusted Income
$167,865
Tax Year
2024
Insurance Expense
$6,000
W/S/G Expenses
$11,200
Total Expenses
$63,962
Net Operating Income
$169,060
Gross Rent Multiplier
15.3
Cap Rate
3.89
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