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

Estimated Value: $1,333,000 - $1,659,046

5 Beds
3 Baths
2,700 Sq Ft
$536/Sq Ft Est. Value

Last Sold May 15, 2020

Last sale price $1,320,000 $489 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $8,462/month

72 Days on Market

Highlights

  • Wood Siding
  • Coe Elementary School Rated A
  • Wall to Wall Carpet

About This Home

As of May 2020

The property is comprised of two one-bedroom units and one three-bedroom unit that has been updated. The property presents a significant amount of rental upside due to the property’s location, spacious layouts, shining hardwood floors and views of the Ballard locks from the private decks. The investment presents a unique opportunity to acquire a triplex in an A+ market with additional developable dirt suitable for two rowhouses and one townhouse.

Last Agent to Sell the Property

Michael Urquhart

Paragon Real Estate Advisors License #135356 Listed on: 01/15/2020

Co-Listed By

Brian Platt

Paragon Real Estate Advisors License #85375

Last Buyer's Agent

Stephen Kennedy

COMPASS License #17285

COMPASS

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1553744

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,682

Year Built

  • Built in 1959

Lot Details

  • 6,000 Sq Ft Lot

Home Design

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

Interior Spaces

  • 2,700 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Vinyl

Parking

  • 6 Parking Spaces
  • Open Parking

Community Details

  • Queen Anne Subdivision

Listing and Financial Details

  • Assessor Parcel Number 2770604765

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,682

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1959
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2700
  • Special Features: None
  • Cumulative Days on Market: 411

Interior Features

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

Exterior Features

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

Garage/Parking

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

Utilities

  • Sewer: Sewer Connected
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • WaterSewerGarbage: 3600

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 2770604765
  • Lot Size Acres: 0.1377
  • Lot Size Sq Ft: 6000
  • 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: 20
  • LeasedItems: None
  • TotalMonthlyIncome: 5555

Multi Family

  • Gross Scheduled Income: 66660
  • Net Operating Income: 47978
  • Number Of Units Total: 3
  • Insurance Expense: 1200
  • Leasable Area: 2700
  • UnitsInBuildingTotal: 3
  • UnitsBelowGrade: false
  • VacancyRate: 3

Tax Info

  • Year: 2019
  • Tax Annual Amount: 9682

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 15, 2020
Closed on
Apr 28, 2020
Sold by
Serrano Jimmy
Bought by
Melander Erik
Seller's Agent
Michael Urquhart
Paragon Real Estate Advisors
Buyer's Agent
Stephen Kennedy
COMPASS
List Price
$1,395,000
Sold Price
$1,320,000
Premium/Discount to List
-$75,000
-5.38%
Current Estimated Value
$1,372,193

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$52,193
Avg. Annual Appreciation
1.37%
Original Mortgage
$1,056,000
Outstanding Balance
$945,936
Interest Rate
3.3%
Mortgage Type
New Conventional
Estimated Equity
$471,255

Purchase Details

Listed on
Jun 6, 2018
Closed on
Aug 9, 2018
Sold by
Herron Matthew and Serrano Jimmy
Bought by
Serrano Jimmy
Seller's Agent
Sam Koswa
Queen Anne Real Estate
Buyer's Agent
Mattthew Herron
Gillis Real Estate LLC
List Price
$1,250,000
Sold Price
$1,250,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.16%
Original Mortgage
$937,500
Interest Rate
5.25%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Listed on
Jun 6, 2018
Closed on
Aug 7, 2018
Sold by
Vanvanhousen Muriel Van
Bought by
Serrano Jimmy
Seller's Agent
Sam Koswa
Queen Anne Real Estate
Buyer's Agent
Mattthew Herron
Gillis Real Estate LLC
List Price
$1,250,000
Sold Price
$1,250,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$937,500
Interest Rate
5.25%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Listed on
Feb 18, 2016
Closed on
Mar 3, 2016
Sold by
Velie Peter and Velie Julia
Bought by
Vanhousen Muriel
Seller's Agent
Alex Black
KW Greater Seattle
Buyer's Agent
Sam Koswa
Queen Anne Real Estate
List Price
$850,000
Sold Price
$890,000
Premium/Discount to List
$40,000
4.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.94%

Purchase Details

Closed on
Jan 26, 2005
Sold by
Makai Properties Llc
Bought by
Velie Peter and Velie Julia

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$431,000
Interest Rate
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 2, 2004
Sold by
Mcmahon Barbara L
Bought by
Makai Properties Llc

Purchase Details

Closed on
Dec 29, 2003
Sold by
Godden Glenn
Bought by
Mcmahon Barbara L

Purchase Details

Closed on
Dec 26, 2001
Sold by
Mcmahon Barbara L
Bought by
Makai Properties Llc

Purchase Details

Closed on
Apr 26, 1999
Sold by
Finley Loren K and Finley Nancy J
Bought by
Mcmahon Barbara L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$264,000
Interest Rate
6.87%
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
Melander Erik $1,320,000 First American Title
Serrano Jimmy -- First American Title
Serrano Jimmy $1,250,000 First American Title
Vanhousen Muriel $890,000 Ticor National
Velie Peter $557,500 Stewart Title
Makai Properties Llc -- --
Mcmahon Barbara L -- Chicago Title
Momahon Barbara L -- Chicago Title
Makai Properties Llc -- --
Mcmahon Barbara L $331,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Melander Erik $1,056,000
Previous Owner Serrano Jimmy $937,500
Previous Owner Velie Peter $431,000
Previous Owner Mcmahon Barbara L $264,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/15/2020 05/15/20 Sold $1,320,000 -5.4% $489 / Sq Ft
03/27/2020 03/27/20 Pending -- -- --
01/15/2020 01/15/20 For Sale $1,395,000 +11.6% $517 / Sq Ft
08/15/2018 08/15/18 Sold $1,250,000 0.0% $417 / Sq Ft
06/30/2018 06/30/18 Pending -- -- --
06/06/2018 06/06/18 For Sale $1,250,000 +40.4% $417 / Sq Ft
03/09/2016 03/09/16 Sold $890,000 +4.7% $387 / Sq Ft
02/24/2016 02/24/16 Pending -- -- --
02/18/2016 02/18/16 For Sale $850,000 -- $370 / 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 $11,389 $1,117,000 $831,000 $286,000
2023 $10,487 $1,045,000 $831,000 $214,000
2022 $11,075 $1,131,000 $880,000 $251,000
2021 $10,582 $1,151,000 $938,000 $213,000
2020 $10,928 $1,045,000 $862,000 $183,000
2018 $9,906 $1,080,000 $920,000 $160,000
2017 $8,868 $964,000 $796,000 $168,000
2016 $7,385 $891,000 $740,000 $151,000
2015 $6,172 $718,000 $642,000 $76,000
2014 -- $599,000 $514,000 $85,000
2013 -- $606,000 $485,000 $121,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1553744

Northwest Multiple Listing Service (NWMLS)

APN: 277060-4765