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5234 University Way NE

Seattle, WA 98105
  • $5,500,000
  • STATUS: Pending
  • ON SITE: 68 Days
  • ID#: 1970616
Under Contract
UPDATED: 240 min ago
$5,500,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,500
    SQFT
  • $478
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

School District:
Northwest MLS logoListing Courtesy of Kidder Mathews: 360-705-2800.


Description

Devoe is a charming 19-unit value-add apartment with proven rent upside. Current ownership has renovated 6 of the 17 residential units and is averaging an 85% increase over previous in-place rents. Recent capital improvements include new roof, new central boilers, vinyl windows, and electrical and plumbing upgrades. Attractively priced a $289,000 per unit and a 5.9% cap rate upon stabilization.

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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 Source Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2022-09-25T00:15:42.27. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".



Based on information submitted to the MLS GRID as of 2022-09-25T00:15:42.27. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
pnw.sourcerealestate.com/homes/131027328
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5234 University Way NE Seattle, WA 98105

  • Price: $5,500,000
  • Status: Pending
  • On Site: 68 Days
  • Updated: 240 min ago
  • ID#: 1970616
0
Beds
0
Baths
0
½ Baths
0.11
Acres
11,500
SQFT
$478
$/SQFT
1928
Built
Neighborhood:
University District
County:
King
Area:
N.Seattle/UW/Wedgewood/V.Ridge/Lk Cty
School District:
Seattle
Property Description
Devoe is a charming 19-unit value-add apartment with proven rent upside. Current ownership has renovated 6 of the 17 residential units and is averaging an 85% increase over previous in-place rents. Recent capital improvements include new roof, new central boilers, vinyl windows, and electrical and plumbing upgrades. Attractively priced a $289,000 per unit and a 5.9% cap rate upon stabilization.
Exterior Features

Carport Spaces 0 Carport YN No Covered Spaces 0 Exterior Features BrickWood Products Lot Features AlleyCurbsPavedSidewalkValue In Land Lot Size Dimensions 4650 Open Parking Spaces 0 Open Parking YN No Parking Total 0 Parking Uncovered Spaces 0 Roof Torch Down Structure Type Multi Family Style Code 56 - 10+ Units View CityLakeTerritorial View YN Yes Waterfront YN No

Interior Features

Building Area Total 11500 Fireplace YN No Flooring HardwoodVinylCarpet Furnished Unfurnished Heating Cooling Type Baseboard Heating YN Yes Interior Features HardwoodWall To Wall Carpet Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Amenities Basement Cumulative Days On Market 21 Energy Source Electric FIRPTAYN No First Right Of Refusal No Foundation Details Poured Concrete Irrigation Water Rights YN No Listing Terms Cash OutConventional Net Operating Income 253641 New Construction YN No Possession Closing Possible Use Multi-Family Power Company Pse Power Production Type Electric Property Condition Good Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Sewer Company Pse Special Listing Conditions None Tax Annual Amount 42016 Tax Year 2022 Units In Building Total 19 Utilities Sewer ConnectedElectricity Available Water Company Pse Water Source Public Year Built Effective 1928 Zoning Class Multi-Family Zoning Jurisdiction City

Listing information © 2022 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 Source Real Estate 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 Source Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2022-09-25T00:15:42.27. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market".



Based on information submitted to the MLS GRID as of 2022-09-25T00:15:42.27. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Source Real Estate
15 E Central STE 200
Spokane WA, 99208
Northwest MLS logoListing Courtesy of Kidder Mathews: 360-705-2800.