16644 31st Ave S

    SeaTac, WA 98188
    • $2,300,000
    • STATUS: Pending
    • ON SITE: 54 days
    • ID#: 1267261
    Under Contract
    UPDATED: 72 min ago
    $2,300,000
    • 0
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 10,128
      SQFT
    • $227
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1977
    County:

    School Ratings & Info

    School District:
    Listing Courtesy of The Foundation Group Llc.

    Description

    * Update * - Current Cap 5% - Market trending to over a 6% cap rate - Two units just leased at market rents with NO cosmetic changes. The Totem Apartments is an incredibly well maintained property in SeaTac, just across the way from light rail. Many units have new water heaters and luxury carpet. The grounds are well-kept and the property is positioned for rental increases with minimal updates. An investor could update the units and push rents to market in this highly commuter friendly location.

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    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Real Estate Solutions Group - NWRE LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2018-05-27T20:15:25.273.

    www.resg.com/homes/82206494

    16644 31st Ave S SeaTac, WA 98188

    • Price: $2,300,000
    • Status: Pending
    • Updated: 72 min ago
    • ID#: 1267261
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    10,128
    SQFT
    $227
    $/SQFT
    1977
    Built
    Neighborhood:
    Seatac
    County:
    King
    Area:
    Burien/Normandy Park
    School District:
    Highline
    Property Description
    * Update * - Current Cap 5% - Market trending to over a 6% cap rate - Two units just leased at market rents with NO cosmetic changes. The Totem Apartments is an incredibly well maintained property in SeaTac, just across the way from light rail. Many units have new water heaters and luxury carpet. The grounds are well-kept and the property is positioned for rental increases with minimal updates. An investor could update the units and push rents to market in this highly commuter friendly location.
    Exterior Features

    Building Condition Good Carport Spaces 0 Exterior Wood Products Garage Spaces 0 Roof Composition Stories In Building 2 Style 56 - 6-9 Units Total Parking Spaces 15 Uncovered Spaces 15

    Interior Features

    Floor Covering Wall to Wall Carpet Heating And Cooling Baseboard Unit1 Bathrooms 1.00 Unit1 Bedrooms 1 Unit1 Dishwasher Y Unit1 Fireplaces 0 Unit1 Range Oven Y Unit1 Refrigerator Y Unit1 Sq Ft 754 Unit2 Bathrooms 1.00 Unit2 Bedrooms 2 Unit2 Dishwasher Y Unit2 Fireplaces 0 Unit2 Range Oven Y Unit2 Refrigerator Y Unit2 Sq Ft 874 Unit3 Bathrooms 1.00 Unit3 Bedrooms 2 Unit3 Dishwasher Y Unit3 Fireplaces 0 Unit3 Range Oven Y Unit3 Refrigerator Y Unit3 Sq Ft 874 Unit4 Bathrooms 1.00 Unit4 Bedrooms 2 Unit4 Dishwasher Y Unit4 Fireplaces 0 Unit4 Range Oven Y Unit4 Refrigerator Y Unit4 Sq Ft 874 Unit5 Bathrooms 1.00 Unit5 Bedrooms 1 Unit5 Dishwasher Y Unit5 Fireplaces 0 Unit5 Range Oven Y Unit5 Refrigerator Y Unit5 Sq Ft 754 Unit6 Bathrooms 1.00 Unit6 Bedrooms 2 Unit6 Dishwasher Y Unit6 Fireplaces 0 Unit6 Range Oven Y Unit6 Refrigerator Y Unit6 Sq Ft 874 Units Below Grade N

    Property Features

    Amenities Coin Op LaundryStorage Bank Owned No Cap Rate 4.98 Electrical Expenses 1248 Energy Source Electric EPSEnergy 0 Form17 Provided General Zoning Classification Multi-Family Gross Adjusted Income 167616 Gross Rent Multiplier 13 Gross Scheduled Income 172800 Heating Expenses 0 Hers Index 0 Home Owner Dues 0 Insurance Expenses 4303 Leased Items None Net Operating Income 114505 New Construction YN No Other Expenses 0 Possession Closing Right Of First Refusal No Septic Approved For Number Of Bedrooms 0 Sewer Sewer Connected Site Features DeckFenced-PartiallyPatio Tax Amount 18498 Tax Year 2018 Terms Cash Out Third Party Approval Required None Total Expenses EXP 53111 Total Expenses TEX 53111 Total Monthly Income 14400 Unit1 Monthly Rent 1000 Unit2 Monthly Rent 1100 Unit3 Monthly Rent 1100 Unit4 Monthly Rent 1100 Unit5 Monthly Rent 1200 Unit6 Monthly Rent 1200 Vacancy Rate 3 Water Sewer Garbage 2664 Zoning Jurisdiction City

    Listing information © 2018 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Real Estate Solutions Group - NWRE LLC and should be verified by the buyer.
    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Real Estate Solutions Group - NWRE LLC are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2018-05-27T20:15:25.273.

     
    Real Estate Solutions Group - NWRE LLC
    1027 State Ave, Suite 102
    Marysville WA, 98270
    Listing Courtesy of The Foundation Group Llc.