Bought with Kidder Mathews
$4,950,000
$5,500,000
10.0%For more information regarding the value of a property, please contact us for a free consultation.
5234 University Way NE Seattle, WA 98105
11,500 SqFt
Key Details
Sold Price $4,950,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 11,500 sqft
Price per Sqft $430
Subdivision University District
MLS Listing ID 1970616
Sold Date 12/07/22
Style 56 - 10+ Units
Year Built 1928
Annual Tax Amount $42,016
Lot Size 4,650 Sqft
Lot Dimensions 4650
Property Sub-Type Multi-Family
Property Description
Devoe is a charming 19-unit value-add apartment with proven rent upside. Current ownership has renovated 6 of the 17 residential units and is averaging an 85% increase over previous in-place rents. Recent capital improvements include new roof, new central boilers, vinyl windows, and electrical and plumbing upgrades. Attractively priced a $289,000 per unit and a 5.9% cap rate upon stabilization.
Location
State WA
County King
Area 710 - North Seattle
Interior
Interior Features Hardwood, Wall to Wall Carpet
Flooring Hardwood, Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Brick, Wood Products
Utilities Available Sewer Connected, Electric
View Y/N Yes
View City, Lake, Territorial
Roof Type Torch Down
Building
Lot Description Alley, Curbs, Paved, Sidewalk, Value In Land
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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"Three Trees" icon indicates a listing provided courtesy of NWMLS.