Listed by Paragon Real Estate Advisors, Bought with Paragon Real Estate Advisors
NOT LISTED FOR SALE

Estimated Value: $957,000 - $1,359,000

8 Beds
4 Baths
3,456 Sq Ft
$335/Sq Ft Est. Value

Last Sold November 07, 2019

Last sale price $890,000 $258 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $6,747/month

6 Days on Market

About This Home

As of November 2019

Attractive 4plex in Mountlake Terrace with immediate upside. Building has been well maintained with long term tenants all currently on month to month leases. Units are all 2Bd/1Bth with in unit laundry. The building is well located just minutes from the future Lynnwood Link Light Rail Station and poised for substantial future appreciation. Significant upside in rents along with the ability to add value through renovations.

Last Agent to Sell the Property

Nick Hemming

Paragon Real Estate Advisors License #120684 Listed on: 09/19/2019

Last Buyer's Agent

Ryan Iles

Paragon Real Estate Advisors License #108410

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1520975

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,652

Year Built

  • Built in 1968

Lot Details

  • 6,534 Sq Ft Lot

Home Design

  • Quadruplex
  • Flat Roof Shape
  • Poured Concrete
  • Wood Siding
  • Wood Composite

Interior Spaces

  • 3,456 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 6 Parking Spaces
  • Open Parking

Community Details

  • Mountlake Terrace Subdivision

Listing and Financial Details

  • Assessor Parcel Number 27042800104100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,652

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1968
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3456
  • Special Features: None
  • Cumulative Days on Market: 337

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Flat
  • View: No
  • Waterfront: No
  • Exterior Features: Wood, Wood Products
  • Foundation Details: Poured Concrete
  • Structure Type: Quadruplex

Garage/Parking

  • Carport Spaces: 4
  • Carport Y N: No
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 6
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • WaterSewerGarbage: 5185

Schools

  • Junior High Dist: Edmonds

Lot Info

  • Parcel Number: 27042800104100
  • Lot Size Acres: 0.15
  • Lot Size Sq Ft: 6534
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Public Records
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 15
  • LeasedItems: None
  • TotalMonthlyIncome: 4680

Multi Family

  • Gross Scheduled Income: 56160
  • Net Operating Income: 38896
  • Number Of Units Total: 4
  • Insurance Expense: 2304
  • Leasable Area: 3456
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 2

Tax Info

  • Year: 2019
  • Tax Annual Amount: 6652

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 19, 2019
Closed on
Nov 6, 2019
Sold by
Entner Kevin and Entner Beatriz
Bought by
Love Ian
Seller's Agent
Nick Hemming
Paragon Real Estate Advisors
Buyer's Agent
Ryan Iles
Paragon Real Estate Advisors
List Price
$895,000
Sold Price
$890,000
Premium/Discount to List
-$5,000
-0.56%
Current Estimated Value
$1,103,860

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$213,860
Avg. Annual Appreciation
4.84%
Original Mortgage
$712,000
Outstanding Balance
$637,095
Interest Rate
3.6%
Mortgage Type
New Conventional
Estimated Equity
$530,203

Purchase Details

Closed on
Nov 25, 2002
Sold by
Chawla Paramjit Sighn and Chawla Sutinder Kaur
Bought by
Entner Kevin and Entner Beatriz

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Interest Rate
5.62%

Purchase Details

Closed on
Mar 21, 2000
Sold by
Chawla Paramjit Singh and Chawla Sutinder Kaur
Bought by
Chawla Paramut Singh and Chawla Sutinder Kaur

Purchase Details

Closed on
Nov 12, 1998
Sold by
Seattle Pacific Foundation
Bought by
Chawla Paramjit S and Chawla Sutinder K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$198,750
Interest Rate
6.54%

Purchase Details

Closed on
Dec 24, 1997
Sold by
Cranston Frank W and Cranston Ardyce P
Bought by
Seattle Pacific Foundation

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$54,193
Interest Rate
7.22%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Love Ian $566 Fidelity National Title
Entner Kevin $312,500 Chicago Title Agency
Chawla Paramut Singh -- --
Chawla Paramjit S $265,000 Pacific Northwest Title
Seattle Pacific Foundation -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Love Ian $712,000
Previous Owner Entner Kevin $222,950
Previous Owner Entner Kevin $150,000
Previous Owner Entner Kevin $233,187
Previous Owner Entner Kevin $250,000
Previous Owner Chawla Paramjit S $198,750
Previous Owner Seattle Pacific Foundation $54,193
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/07/2019 11/07/19 Sold $890,000 -0.6% $258 / Sq Ft
09/25/2019 09/25/19 Pending -- -- --
09/19/2019 09/19/19 For Sale $895,000 -- $259 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

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
2025 $7,816 $960,300 $383,300 $577,000
2024 $7,816 $971,800 $368,300 $603,500
2023 $6,380 $892,100 $356,800 $535,300
2022 $7,955 $915,000 $317,200 $597,800
2020 $7,088 $719,000 $330,100 $388,900
2019 $6,653 $678,500 $270,500 $408,000
2018 $6,644 $590,000 $180,000 $410,000
2017 $5,345 $500,000 $180,000 $320,000
2016 $3,544 $344,500 $165,100 $179,400
2015 $3,564 $325,000 $127,000 $198,000
2013 $3,408 $295,000 $115,500 $179,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1520975

Northwest Multiple Listing Service (NWMLS)

APN: 270428-001-041-00