QUEEN ANNE TRIPLEX
2557 13th Ave W, Seattle
Amazing Investment Opportunity on the West side of Queen Anne. This 3080 Sqft Triplex has a ton of value-add opportunity. Building includes a 3BR, 2BR, & 1BR Unit.
$100K in updates will put this rental at 5.7% Cap Rate!
VIEWS of Puget Sound, Interbay Golf Course and Magnolia
Update each Unit with new cabinets, counters, baths & floors to get top Seattle Rental Rates.
Current Mo. to Mo. tenants are in process of Moving!
SALE PRICE: $1,189,000
CLOSING: OCT 31, 2017
CONTACT TO SCHEDULE VIEWING!
Remodel Scope of Work:
3 Units x Remodel
Update 3x kitchen with new cabinets and counters
Update flooring – refinish hardwoods, replace carpets
Paint All Rooms
3.5 x Update baths with new vinyl flooring, cabinets and tub surrounds
Tree Trimming and Removal, Landscaping
Exterior Paint Facia
Purchase Price + Remodel: $1,289,000
$1,289,000 / 3080 = $418.50 per sqft
RENTAL PRO FORMA
UNIT 1: 1540 sqft 3BR / 1.5 BA $3200/mo+
UNIT 2: 720 SQFT 1BR / 1 BA $2000/mo+
UNIT 3: 820 SQFT 2BR / 1 BA $2400/mo+
Rent Income (Avg $2.75ft): $7600
Pass Thru Utilities: $6,120
Total Income: $99,984/yr
Taxes: -$8853/yr, Insurance: -$1706,
Mgmt 5%: $4,577, Hse Utilities: $1200
3% Vacancy Rate: -$2736, Maint: $2,550
Remodel Est.: $100,000
NOI = $73,478
5.7% Cap Rate