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Cassidy Thomas

cassidy@1realty.com +1(360) 739-4784

Listed by:Kidder Mathews • Dan Swanson

$3,950,000

Est. payment - /mo

32 Beds

24 Baths

15,888 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 15,888 sqft

Price per Sqft $248

Subdivision Burien

MLS Listing ID 2569544

Style 56 - 10+ Units

Bedrooms 32

Year Built 1979

Annual Tax Amount $38,727

Lot Size 1.445 Acres

Property Sub-Type Multi Family

Property Description

A garden style 17-unit community located ±2 miles from Downtown Burien and ±7 miles from Downtown Seattle. Immediate access to the RapidRide H Line connecting to Downtown Seattle and shopping, dining, and grocery. The property spans 5 buildings constructed between 1954-1979 (most units 1979) on a single parcel. Mostly 2-bed units (5 with extra 1/2 baths) plus a studio, 2 one-beds, and 2 three-beds with either 1.5 or 2 baths. 8 units have in-unit laundry, several have townhome layouts, and most have private yards. Units average 896 SF. Off-street parking lot. Average tenant tenure is 7+ years even after a 25% gross rent increase. Value-Add Options: Raise rents to market, use yard for storage and/or parking income, add bedrooms to a couple existing units, convert garage to ADU, develop an additional building, or redevelop full parcel under R4 zoning. (Buyer to verify feasibility of all development options.) Priced at less than $235,000 per unit, under $260 per square foot, and at $62 per square foot of land, the offering represents a below-replacement-cost basis for a well-located, high-upside multifamily asset in a designated Regional Growth Center.

Location

State WA

County King

Area 130 - Burien/Normandy Park

Interior

Fireplace false

Exterior

Exterior Feature Stucco, Wood, Wood Products

Garage Spaces 2.0

View Y/N No

Roof Type Composition

Building

Lot Description Paved, Value In Land

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Hazel Vly Elem

Middle Schools Cascade Mid

High Schools Highline High

School District Highline

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Cassidy Thomas

+1(360) 739-4784

Agent | License ID: 132279

Agent License ID: 132279

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1031 1045 SW 122nd ST Seattle, WA 98146

Cassidy Thomas

Key Details

Location

Interior

Exterior

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Schools

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