Listing Detail - For Sale
Cranmore
$1,800,000
Listing ID#
508541
Cranmore
3301 Beacon Ave S
Seattle WA 98144
3301 Beacon Ave S
Seattle WA 98144
County: King
Listing Type: Multi-Family
$ 89.69 per Bldg SF
For More Information Contact:
Gordon Capretto - Capretto & Associates
Phone: (206) 781-0733 | Fax: 206-781-0733 | Email: click here
Gordon Capretto - Capretto & Associates
Phone: (206) 781-0733 | Fax: 206-781-0733 | Email: click here
Property Summary - Cranmore
| Property Type: | Multi-Family | Year Built: | 1915 |
| Total Building SqFt: | 20,070 | Total SqFt of Lot: | 7,637 |
| Total Rentable Area: | 12,602 | Total Acres of Lot: | 0.18 |
| Total Units: | 20 | Cap Rate: | 6.95 |
| Status: | Sold | Number of Floors: | 2 |
| NOI: | 125,069 | Construction Type: | |
| General Zoning: | NC1-40 | ||
Description
Sound Transit Development Project Near VA
-
Cranmore
Financing Available 75 % LTV 25 % Down. Building without adjacent lot appraised at $ 1,975,000. Beacon Hill Rehab Building Near New Sound Transit Light Rail. Building appraised at a residual value of $ 2,655,000. Spend $ 8,750 per unit to raise rents $ 150 per unit. At a 6 % cap rate that would increase the value of the unit by $ 30,000 or a $ 21,250 increase in net value per unit. Appraisal indicates a profit potential of $ 855,000 or 48%. Current 6.9 cap rate, 8.2 X gross. Stabilizied 7.1 cap rate, 8.1 X gross. Projected 7.3 cap rate, 8.0 X gross. Rehabbed 8.5 cap rate, 7.2 X gross. . Seller would like to sell as a package with adjacent lot.
Financing Available 75 % LTV 25 % Down. Building without adjacent lot appraised at $ 1,975,000. Beacon Hill Rehab Building Near New Sound Transit Light Rail. Building appraised at a residual value of $ 2,655,000. Spend $ 8,750 per unit to raise rents $ 150 per unit. At a 6 % cap rate that would increase the value of the unit by $ 30,000 or a $ 21,250 increase in net value per unit. Appraisal indicates a profit potential of $ 855,000 or 48%. Current 6.9 cap rate, 8.2 X gross. Stabilizied 7.1 cap rate, 8.1 X gross. Projected 7.3 cap rate, 8.0 X gross. Rehabbed 8.5 cap rate, 7.2 X gross. . Seller would like to sell as a package with adjacent lot.
© Copyright 2013 Commercial Brokers Association. All rights reserved.
All information provided is deemed reliable but is not guaranteed and should be independently verified.