Bought with Paragon Real Estate Advisors
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Key Details
Sold Price $2,025,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,560 sqft
Price per Sqft $161
Subdivision Burien
MLS Listing ID 2218767
Sold Date 07/26/24
Style 56 - 10+ Units
Year Built 1962
Annual Tax Amount $31,252
Lot Size 0.425 Acres
Property Description
The Cameo Apartments is a 15-unit property in Burien with current rents below market presenting an exceptional value-add opportunity on the repositioning of this classic property. Reposition this asset by achieving current market rents or go for it & max out the investment potential of with a renovation of the units/property at your own pace. There is a mix of newer leases & long-term tenants. More than 50% of the units on MTM lease. The unit mix of the 15 units is 11 – 1-bed/1-bath units and 4 – 2-bed/1-bath units. Located a short distance to SeaTac airport & major employers such as Boeing. The central location & spacious units make it a promising asset for deploying many different investment strategies. Up & coming area with new homes!
Location
State WA
County King
Area 130 - Burien/Normandy Park
Interior
Interior Features Ceramic Tile, Hardwood, Wall to Wall Carpet
Flooring Ceramic Tile, Hardwood, Vinyl, Carpet
Fireplace false
Exterior
Exterior Feature Brick, Cement/Concrete
View Y/N No
Roof Type Built-Up,Flat
Building
Lot Description Corner Lot, Paved
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Buyer To Verify
Middle Schools Buyer To Verify
High Schools Buyer To Verify
School District Highline
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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