2629 2633 14th Avenue W, Seattle, WA 98119
- $6,500,000
- 23,900
- SqFt
Courtesy of Paragon Real Estate Advisors
- List Price
- $6,500,000
- Status
- ACTIVE
- Days on Market
- 61
- MLS#
- 2526962
- Subtype
- Residential Income
- Style
- 56 - 10+ Units
- Year Built
- 1963
- Living Area
- 23,900
- Lot Size
- 24,000
- Acres
- 0.55
- Subdivision
- Interbay
- Neighborhood
- Interbay
- MLS Area Major
- Queen Anne/Magnolia
Property Description
31-unit multifamily community situated in Seattle’s desirable Interbay/ Queen Anne area. Golfcrest offers investors meaningful renovation value-add upside, and seller financing is available for qualified buyers. The proposed seller financing terms are 5% interest-only rate, 25% down payment and a 5-year term. The property is comprised of a diversified unit mix that includes studio, one-bedroom, two-bedroom, and a Penthouse unit, making it well positioned to serve a broad tenant base in one of Seattle’s most supply constrained submarkets. Roughly 50% of the units have had the flooring replaced with LVP floors. Replacing the remainder of the flooring and improving the kitchens and bathrooms will result in a significant increase in rent. The property has been owned by the same family for the last 31 years. Ownership has spent over $225K in capital improvements over the last couple of years. These improvements reduce near-term capital expenditure risk while preserving the opportunity for an incoming investor to execute a targeted unit renovation program and capture meaningful rental upside.
/u.realgeeks.media/yournextchapteridaho/5b7f02172b8e-_H4A7668_Edit__New_Head_Shot_2024_John.jpg)
Additional Information
- Amenities
- Coin Op Laundry
- Exterior Features
- Cement/Concrete, Stone, Wood, Wood Products
- Property Description
- 56 - 10+ Units
- Flooring
- Vinyl Plank
- Heating
- Baseboard, Forced Air
- Air Conditioning
- None
- Roof
- Flat
- School District
- Seattle
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.