22805 30th Ave S
Des Moines WA 98198

Vashon Vue Apartments

22805 30th Ave S Des Moines WA 98198

Listing #: 686675 | Status: Available | Last Modified: 9/16/2024 |

For Sale
Brian Platt
  • Phone:(206) 812-9130
  • Email:brianp@paragonrea.com
  • Office Name:Paragon Real Estate Advisors
  • Office Phone:(206) 623-8880
  • Office Website:
Michael Urquhart
Ben Douglas
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo
Price Information
  • Listing Price$ 1,995,000.0
  • $/SF$ 273.3
  • $/Unit$ 1,995,000.0
  • Listing StatusAvailable
  • Days on Market17
  • Asset ClassMulti-Family
  • Terms
Investment Information
  • Investment Type
  • Investment PropYes
  • Gross Income179,578
  • Vacancy Factor %5.00%
  • Operating Expenses63,081
  • Net Operating Income107,518
  • CAP Rate 5.84 %
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Financial Summary
  • CAP Rate 5.84 %
Associated Files
Building Information
  • Building StatusExisting
  • # of Buildings1
  • # of Floors3
  • # of Units11
  • # of Elevators
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Total Building SF8040
  • Net Rentable Area7300
  • Total Office SF
  • Largest Contiguous SF
  • Lot SF16810
  • Acres0.39
Property Type
  • Property TypeMulti-Family
  • Office Type
  • Building Class
Location
  • CountyKing
  • Vicinity
  • Location Description
  • Second Address
  • Cross Street
  • Market AreaDes Moines
  • Tax ID #2500600198
  • Additional Parcels
  • ZoningPR-C
Construction
  • Year Built1968
  • Year Renovated
  • Completion Date
  • Roof Type
  • Construction Type

Vashon Vue Apartments

Public Comments

The Vashon Vue Apartments. This 11-unit building presents the opportunity to acquire an in-place 5.8% current cap rate with operational up-side to reach a 6.7% market cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,170,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with three 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms. The location of the Vashon Vue offers proximity to several well-regarded schools, including Midway Elementary and Mount Rainier High School, ma

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