Listed by Paragon Real Estate Advisors, Bought with Heaton Dainard, LLC
NOT LISTED FOR SALE
8 Beds
8 Baths
4,555 Sq Ft
5,600 Sq Ft Lot

Last Sold March 08, 2024

Last sale price $1,700,000 $373 Per Sq Ft

20 Days on Market

Highlights

  • 0.13 Acre Lot
  • No HOA
  • Wood Siding
  • Montlake Elementary School Rated A
  • Baseboard Heating
  • 2-minute walk to Lynn Street Mini Park

About This Home

As of March 2024

See the possibilities - value-add repositioning or redevelopment. Eastlake 6-unit apt sits on a 5,400SF lot zoned LR2 (M) with access to the lot from Minor Ave on the front along with Red Ave E to the rear. The building currently has several vacant units, allowing investors to promptly enhance its value through additional renovations, maximizing returns on investment. The building is comprised of four well laid out 1-bedroom/1-bathroom units, along with two large 2-bedroom/2-bathroom units. Encompassing the entirety of the top floor is the penthouse unit featuring hard surfaced flooring, updated cabinetry, in unit washer and dryer, and spectacular views of lake union and downtown Seattle.

Last Agent to Sell the Property

Cathy Jeney

Paragon Real Estate Advisors License #18893 Listed on: 01/23/2024

Co-Listed By

Nick Hemming

Paragon Real Estate Advisors License #120684

Last Buyer's Agent

Jennifer Hafner

Heaton Dainard, LLC License #134914

Heaton Dainard, LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2193534

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,781

Year Built

  • Built in 1968

Lot Details

  • 5,600

Home Design

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

Interior Spaces

  • 4,555 Sq Ft Home
  • 3-Story Property
  • Laminate Flooring

Parking

  • 4 Parking Spaces
  • Open Parking

Additional Features

  • 5,600 Sq Ft Lot
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Eastlake Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2902200380

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,781

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1968
  • Buyer Agency Compensation: 2.25
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 4555
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Laminate
  • Interior Amenities: Laminate Hardwood
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

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

Garage/Parking

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

Utilities

  • Sewer: Sewer Connected
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 2902200380
  • Lot Size Acres: 0.1286
  • Lot Size Sq Ft: 5600
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Landvision
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 13.5
  • LeasedItems: None
  • TotalMonthlyIncome: 14185

Tax Info

  • Year: 2023
  • Tax Annual Amount: 17781

Multi Family

  • Number Of Units Total: 6
  • EnergySource: Electric
  • UnitsBelowGrade: false

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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

Property History

Date Event Price List to Sale Price per Sq Ft
03/08/2024 03/08/24 Sold $1,700,000 -26.1% $373 / Sq Ft
02/12/2024 02/12/24 Pending -- -- --
01/23/2024 01/23/24 For Sale $2,300,000 -- $505 / 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
2024 $15,140 $1,533,000 $1,512,000 $21,000
2023 $17,915 $1,873,000 $1,512,000 $361,000
2022 $16,710 $1,903,000 $1,316,000 $587,000
2021 $19,866 $1,796,000 $1,316,000 $480,000
2020 $18,269 $2,048,000 $1,428,000 $620,000
2018 $16,048 $1,748,000 $924,000 $824,000
2017 $14,209 $1,611,000 $784,000 $827,000
2016 $11,616 $1,473,000 $504,000 $969,000
2015 -- $1,168,000 $504,000 $664,000
2014 -- $1,055,000 $504,000 $551,000
2013 -- $876,000 $504,000 $372,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2193534

Northwest Multiple Listing Service (NWMLS)