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Listed by Westlake Associates, Inc. David W Petersen
$ 3,500,000
Est. payment | /mo
21 Beds
15 Baths
12,162 SqFt
$ 3,500,000
Est. payment | /mo
21 Beds
15 Baths
12,162 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,162 sqft
Price per Sqft $287
Subdivision Shoreline
MLS Listing ID 2455933
Style 56 - 10+ Units
Bedrooms 21
Year Built 1963
Annual Tax Amount $35,715
Lot Size 0.402 Acres
Property Sub-Type Multi Family
Property Description
Conveniently located just North of Seattle City limits, the Highland Terrace Apartments offers a new investor a great value add opportunity with the flexibility of raising below market rents without the hassles and constraints of Seattle Landlord/Tenant laws. The value add here is to renovate all units with modern finishes, raise rents to market and implement a RUBS program to start billing back tenants for utilities. Ample carport and open parking. Updated electrical panels and newer TPO Roof. Potential to add in-unit washer and dryers. Upper units feature private decks. Individual hot water tanks for each unit. New secured tenant mailbox unit. Larger owner storage closet onsite.
Location
State WA
County King
Area 715 - Richmond Beach/Shoreline
Interior
Flooring Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Wood
View Y/N No
Roof Type Flat,See Remarks
Building
Sewer Sewer Connected
New Construction No
Schools
School District Shoreline
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.