Bought with Windermere Real Estate Central
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Key Details
Sold Price $2,700,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 10,986 sqft
Price per Sqft $245
Subdivision Lake City
MLS Listing ID 2190425
Sold Date 05/24/24
Style 56 - 10+ Units
Year Built 1967
Annual Tax Amount $23,288
Lot Size 10,018 Sqft
Property Description
Maria Manor is a prime investment opportunity in the heart of Lake City. Built in 1967, this partially renovated asset is strategically located just off Lake City Way, with value-add potential for investors. Maria Manor’s location ensures easy access to public transit and surrounding retail, with Northgate Station just 2.5 miles away. With a total of 11 units, Maria Manor boasts 6 units that have already undergone full renovations, setting the stage for enhanced rental income potential. Situated on a 0.23-acre LR3 (M) zoned lot, this property offers a mix of 1- and 2-bedroom units, totaling a NRSF of 9,580. Savvy investors can capitalize on the remaining 5 unrenovated units, unlocking a 13% increase in gross potential rent.
Location
State WA
County King
Area 710 - North Seattle
Interior
Interior Features Wall to Wall Carpet
Flooring Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Cement Planked, Wood
Amenities Available Cable TV, Deck, Fenced-Partially, High Speed Internet, Patio
Waterfront No
View Y/N No
Roof Type Flat
Building
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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