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Listed by:Westlake Associates, Inc. • David W Petersen
$ 2,700,000
Est. payment /mo
New
936 N 198th ST Shoreline, WA 98133
24 Beds
12 Baths
8,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,400 sqft
Price per Sqft $321
Subdivision Shoreline
MLS Listing ID 2573588
Style 56 - 10+ Units
Bedrooms 24
Year Built 1962
Annual Tax Amount $29,755
Lot Size 0.408 Acres
Property Sub-Type Multi Family
Property Description
The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents and get this building to a 7.18% CAP Rate. Excellent value-add opportunity. All 12 units are Two-Bed/One-Bath units averaging about 700 square feet each. Ample open parking available on site that has been re-paved and re-striped. Building has updated electrical panels and a newer TPO roof. Coin-operated common laundry available. Conveniently located in Shoreline, property has easy access to Rapid Ride Transit, Highway 99, Interstate-5, and the 185th Street Light Rail Station.
Location
State WA
County King
Area 715 - Richmond Beach/Shoreline
Interior
Fireplace false
Exterior
Exterior Feature Wood
View Y/N No
Roof Type Flat,See Remarks
Building
Sewer Sewer Connected
New Construction No
Schools
School District Shoreline
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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