22506 7th Ave S
Des Moines WA 98198
Vista Del Mar Bungalows
22506 7th Ave S Des Moines WA 98198
Listing #: 687912 | Status: Available | Last Modified: 10/24/2024 |
For Sale
- Phone:(206) 812-9119
- Email:ryan@paragonrea.com
- Office Name:Paragon Real Estate Advisors
- Office Phone:(206) 623-8880
- Office Website:
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 2,100,000.0
- $/SF$ 348.3
- $/Unit$ 2,100,000.0
- Listing StatusAvailable
- Days on Market49
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income167,637
- Vacancy Factor %5.00%
- Operating Expenses71,588
- Net Operating Income87,667
- CAP Rate 4.57 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 4.57 %
- Building StatusExisting
- # of Buildings2
- # of Floors2
- # of Units13
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF6030
- Net Rentable Area6030
- Total Office SF
- Largest Contiguous SF
- Lot SF15000
- Acres0.34
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaDes Moines
- Tax ID #2006600360
- Additional Parcels
- ZoningD-C
- Year Built1939
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Vista Del Mar Bungalows
We are pleased to exclusively offer for sale the Vista Del Mar Bungalows; a value-add, 13-unit apartment building near the Des Moines waterfront. Built in 1939 in a wonderful Spanish architectural style, the property is prominently positioned on a 15,000 SqFt corner lot just blocks from water right in the heart of the Des Moines Marina District. The property consists of two buildings with a mix of efficient studio, one-bedroom and two-bedroom apartments. Common area amenities include off-street parking with 12+ stalls, an outdoor seating/gathering space and a common laundry room. The property also has a large garage space in the lower level of the south building that is being used as a workshop and extra storage space currently. This space is large and could be repurposed and potentially r
