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

Sale Details

Date Sold: August 20, 2024

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

24 Days on Market

Highlights

  • Deck
  • Vinyl Plank Flooring
  • Partially Fenced Property
  • No HOA
  • Forced Air Heating System
  • Wood Siding

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)
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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

  • 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

7,330 Sq Ft Lot

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
  • Structure Type: Multi Family
  • 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

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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 9, 2024
Closed on
Sep 30, 2024
Sold by
Bought by
Seller's Agent
David Petersen
Westlake Associates, Inc.
Buyer's Agent
Dongmei Nian
NAREIG
List Price
$2,950,000
Sold Price
$2,900,000
Premium/Discount to List
-$50,000
-1.69%
Views
2

Purchase Details

Listed on
Jul 9, 2024
Closed on
Aug 16, 2024
Sold by
Bought by
Seller's Agent
David Petersen
Westlake Associates, Inc.
Buyer's Agent
Dongmei Nian
NAREIG
List Price
$2,950,000
Sold Price
$2,900,000
Premium/Discount to List
-$50,000
-1.69%
Views
2

Purchase Details

Listed on
Jul 9, 2024
Closed on
Aug 15, 2024
Sold by
Bought by
Seller's Agent
David Petersen
Westlake Associates, Inc.
Buyer's Agent
Dongmei Nian
NAREIG
List Price
$2,950,000
Sold Price
$2,900,000
Premium/Discount to List
-$50,000
-1.69%
Views
2

Purchase Details

Closed on
Aug 28, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$625,000
Interest Rate
6.43%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 4, 1997
Sold by
Bought by

Purchase Details

Closed on
Apr 26, 1995
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$313 None Listed On Document
$2,898,650 Fidelity National Title
$313 Fidelity National Title
$934,100 Pacific Northwest Title Co
$740,000 --
$632,500 First American Title
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $1,315,000
Previous Owner $1,100,000
Previous Owner $1,050,000
Previous Owner $715,000
Previous Owner $695,000
Previous Owner $625,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $30,410 $2,954,000 $952,900 $2,001,100
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

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2262502

Northwest Multiple Listing Service (NWMLS)
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