Listed by Windermere RE Greenwood, Bought with COMPASS
$1,150,000
SOLD JUL 31, 2024

314 E Mercer St Seattle, WA 98102

Capitol Hill Neighborhood
-- Bed
-- Bath
4,595 Sq Ft
2,400 Sq Ft Lot

Recently Sold

$250 Per Sq Ft

18% Below List Price

116 Days on Market

Highlights

  • City View
  • Deck
  • Softwood Flooring
  • Garfield High School Rated A
  • Wood Burning Stove
  • 4-minute walk to Tashkent Park

About This Home

As of July 2024

Huge price drop! This classic 5-unit apartment building in prime Capitol Hill location offers the savvy investor a strong revenue stream and tons of upside. Each spacious unit features a unique layout, wood floors, fresh interior paint, gas cooking. Nice mix of 1 bed, 1+ den, 2-story units, some with views of city + mountains. The basement includes storage, common laundry, large unfinished area for possible expansion. Rents are proforma from property manager. Currently a 5.8 CAP with room for upside. The building is now vacant, allowing new owner the option to renovate or place tenants. Low vacancy rate historically (fully leased for many years). Great location, close to light rail, SLU, freeway, everything on Capitol Hill + downtown.

Last Agent to Sell the Property

Jed Kliman

Windermere RE Greenwood License #50194 Listed on: 03/20/2024

Windermere RE Greenwood

Last Buyer's Agent

Colin Foote

COMPASS License #114283

COMPASS

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2211088

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,182

Year Built

  • Built in 1909

Lot Details

  • 2,400 Sq Ft Lot
  • Partially Fenced Property
  • Corner Lot
  • Property is in good condition

Property Views

  • City
  • Mountain
  • Territorial
  • Limited

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 4,595 Sq Ft Home
  • 3-Story Property
  • Wood Burning Stove

Flooring

  • Softwood
  • Wall to Wall Carpet
  • Concrete
  • Vinyl Plank

Outdoor Features

  • Deck

Schools

  • Lowell Elementary School
  • Meany Mid Middle School
  • Garfield High School

Utilities

  • High Speed Internet
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Capitol Hill Subdivision

Listing and Financial Details

  • Assessor Parcel Number 6848200025

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,182

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1909
  • Buyer Agency Compensation: 3.0
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 4595
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 400

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Concrete, Softwood, Hardwood, Vinyl Plank, Carpet
  • Interior Amenities: Concrete, Fir/Softwood, Hardwood, Wall to Wall Carpet
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Basement,Coin Op Laundry,Storage

Exterior Features

  • Roof: Composition
  • View: City, Mountain(s), Partial, Territorial
  • Lot Features: Alley, Corner Lot, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking: No
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Stove/Free Standing
  • Heating Yn: Yes
  • WaterSewerGarbage: 5700

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 500

Schools

  • Junior High Dist: Seattle
  • High School: Garfield High
  • Middle Or Junior School: Meany Mid

Lot Info

  • Parcel Number: 6848200025
  • Lot Size Acres: 0.0551
  • Lot Size Sq Ft: 2400
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially,Gas Available,High Speed Internet
  • MLSLotSizeSource: KCR
  • MLSSquareFootageSource: Appraisal
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Natural Gas

Rental Info

  • GrossRentMultiplier: 11
  • LeasedItems: None
  • TotalMonthlyIncome: 9450

Multi Family

  • Gross Scheduled Income: 113400
  • Net Operating Income: 73008
  • Number Of Units Total: 5
  • Electric Expense: 500
  • Insurance Expense: 3500
  • Leasable Area: 3333
  • EnergySource: Natural Gas
  • UnitsInBuildingTotal: 5
  • UnitsBelowGrade: false
  • VacancyRate: 3

Tax Info

  • Year: 2024
  • Tax Annual Amount: 13182

MLS Schools

  • Elementary School: Lowell

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Range of Values:

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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 Change Sq Ft Price
07/31/2024 07/31/24 Sold $1,150,000 -8.0% $250 / Sq Ft
07/14/2024 07/14/24 Pending -- -- --
06/21/2024 06/21/24 Price Changed $1,250,000 -7.1% $272 / Sq Ft
05/22/2024 05/22/24 Price Changed $1,345,000 -3.6% $293 / Sq Ft
05/02/2024 05/02/24 For Sale $1,395,000 0.0% $304 / Sq Ft
03/28/2024 03/28/24 Pending -- -- --
03/20/2024 03/20/24 For Sale $1,395,000 -- $304 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jed Kliman

    Seller's Agent in 2024

    Jed Kliman

    Windermere Corporate

    (206) 778-7665

    3 in this area

    205 Total Sales

    Jed Kliman
    Section Image
  • Colin Foote

    Buyer's Agent in 2024

    Colin Foote

    Avenue Properties

    (907) 378-9236

    1 in this area

    37 Total Sales

    Colin Foote
    Section Image
See All Agents

Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2211088

Northwest Multiple Listing Service (NWMLS)

Washington King County Seattle 98102 Capitol Hill

314 E Mercer St, Seattle, WA

This home is located at 314 E Mercer St, Seattle, WA 98102 and is currently priced at $1,150,000, approximately $250 per square foot. This property was built in 1909. 314 E Mercer St is a home located in King County with nearby schools including Lowell Elementary School, Meany Middle School, and Garfield High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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