Listed by Westlake Associates, Inc., Bought with NAREIG
NOT LISTED FOR SALE
-- Bed
-- Bath
9,975 Sq Ft
7,330 Sq Ft Lot

Last Sold August 20, 2024

Last sale price $2,900,000 $291 Per Sq Ft

24 Days on Market

Highlights

  • Deck
  • No HOA
  • Forced Air Heating System
  • Viewlands Elementary School Rated A-
  • Vinyl Plank Flooring
  • Partially Fenced Property

About This Home

As of August 2024

ASSUMABLE FINANCING with a 3.32% Interest Rate. Constructed in 1986, Northgate 9 is a 3-story, wood-framed building featuring a ground-floor parking garage. The property comprises nine 2-bedroom, 2-bathroom apartment units, each spanning an average of 1,108 sqft. Every unit boasts an open-concept layout, covered balconies, full appliance package and in-unit full-size washers and dryers. Northgate 9 presents a unique investment opportunity. Prospective investors can capitalize on the property’s strategic location and low-maintenance appeal. Potential for enhancing returns by renovating additional unit interiors, adjusting rents to align with market rates, and securing the parking garage by adding a garage door & charging for parking.

Last Agent to Sell the Property

David Petersen

Westlake Associates, Inc. License #7352 Listed on: 07/09/2024

Co-Listed By

Chad Martini

Westlake Associates, Inc. License #118627

Last Buyer's Agent

Dongmei Nian

NAREIG License #24008773

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2262502

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $28,860

Year Built

  • Built in 1986

Lot Details

  • 7,330 Sq Ft Lot
  • Partially Fenced Property

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding
  • Wood Composite

Interior Spaces

  • 9,975 Sq Ft Home
  • 3-Story Property
  • Vinyl Plank Flooring

Parking

  • 14 Parking Spaces
  • 9 Covered Spaces
  • Open Parking

Additional Features

  • Deck
  • Forced Air Heating System

Community Details

  • No Home Owners Association
  • Northgate Subdivision

Listing and Financial Details

  • Assessor Parcel Number 5464300063

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$28,860

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1986
  • Buyer Agency Compensation: 2
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 9975
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl Plank
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Coin Op Laundry,Storage

Exterior Features

  • Roof: Composition
  • Lot Features: Paved
  • View: No
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 9
  • Open Parking: Yes
  • Total Parking Spaces: 14

Utilities

  • Sewer: Sewer Connected
  • Security: FullyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air
  • Heating Yn: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 5464300063
  • Lot Size Acres: 0.1683
  • Lot Size Sq Ft: 7330
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Fenced-Partially
  • MLSLotSizeSource: King County Assessor
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 10.67
  • LeasedItems: None
  • TotalMonthlyIncome: 18060

Tax Info

  • Year: 2024
  • Tax Annual Amount: 28860

Multi Family

  • Number Of Units Total: 9
  • EnergySource: Electric
  • UnitsBelowGrade: false
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/20/2024 08/20/24 Sold $2,900,000 -1.7% $291 / Sq Ft
08/02/2024 08/02/24 Pending -- -- --
07/09/2024 07/09/24 For Sale $2,950,000 -- $296 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $26,201 $2,737,000 $916,200 $1,820,800
2023 $28,860 $3,083,000 $916,200 $2,166,800
2022 $25,859 $3,125,000 $916,200 $2,208,800
2021 $30,128 $2,833,000 $916,200 $1,916,800
2020 $31,551 $3,151,000 $916,200 $2,234,800
2018 $24,066 $2,739,000 $842,900 $1,896,100
2017 $21,593 $2,450,000 $696,300 $1,753,700
2016 $18,297 $2,272,000 $586,400 $1,685,600
2015 -- $1,873,000 $513,100 $1,359,900
2014 -- $1,526,000 $513,100 $1,012,900
2013 -- $1,417,000 $513,100 $903,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2262502

Northwest Multiple Listing Service (NWMLS)