Listed by Best Choice Realty LLC, Bought with Best Choice Realty LLC
$2,410,000
SOLD MAY 22, 2024
-- Bed
-- Bath
5,952 Sq Ft
3,878 Sq Ft Lot

Recently Sold

$405 Per Sq Ft

11% Below List Price

Highlights

  • No HOA
  • Thermal Windows
  • Baseboard Heating
  • Laurelhurst Elementary School Rated A-
  • Vinyl Plank Flooring
  • Wood Siding

About This Home

As of May 2024

Turn around 27 unit apartment complex listed at 5.2% Cap Rate based so far on 2023. Current vacancy at 19% which allows for instant potential to increase cap rate.This complex has 1 kitchen 4 showers and 4 rest rooms; coin op laundry, and 6 parking stalls. All studios are decent sized with mini fridge, microwave, bed, chair and desk. All windows upgraded to vinyl cased thermopane. All original systems are intact and working well. All rooms have baseboard radiator heat supplied by central gas fired boiler with four zones, dedicated thermostat on each floor. 2 hot gas hot water tanks. In 2021 and 2022, all flooring was upgraded to LVP. New Torch down roof is 2017. Ask Broker to see more pictures of the property.

Last Agent to Sell the Property

Craig Ruden

Best Choice Realty LLC License #108766 Listed on: 09/27/2023

Best Choice Realty LLC

Last Buyer's Agent

Jasmine Jung

Best Choice Realty LLC License #126808

Best Choice Realty LLC

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2165235

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,166

Year Built

  • Built in 1964

Lot Details

  • 3,878 Sq Ft Lot
  • Sprinkler System
  • Property is in average condition

Home Design

  • Flat Roof Shape
  • Poured Concrete
  • Wood Siding

Interior Spaces

  • 5,952 Sq Ft Home
  • 4-Story Property
  • Thermal Windows
  • Vinyl Plank Flooring

Parking

  • 6 Parking Spaces
  • Open Parking

Additional Features

  • Outbuilding
  • Baseboard Heating

Community Details

  • No Home Owners Association
  • Campus Add N 38.78 Ft Condos
  • University District Subdivision

Listing and Financial Details

  • Legal Lot and Block 10 / 1
  • Assessor Parcel Number 1321300060

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,166

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1964
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: CAMPUS ADD N 38.78 FT
  • New Construction: No
  • CalculatedSquareFootage: 5952
  • EffectiveYearBuiltSource: Public Records
  • SOCComments: You deserve it.
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl Plank
  • Stories: 4
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: Thermal Windows

Exterior Features

  • Roof: Flat
  • Lot Features: Alley, Curbs, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Average
  • Structure Type: Multi Family
  • ConstructionMethods: Standard Frame

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
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: Seattle City Lights
  • SewerCompany: Seattle Public Utilities
  • WaterCompany: Seattle Public Utilities
  • WaterSewerGarbage: 11800

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 3860

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 1321300060
  • Lot Size Acres: 0.089
  • Lot Size Sq Ft: 3878
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Outbuildings,Sprinkler System
  • MLSLotSizeSource: Realist
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family
  • LotNumber: 10

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric, Natural Gas

Rental Info

  • GrossRentMultiplier: 15.09
  • LeasedItems: None
  • TotalMonthlyIncome: 17098

Multi Family

  • Gross Scheduled Income: 178565
  • Net Operating Income: 75632
  • Number Of Units Total: 27
  • Electric Expense: 3800
  • Insurance Expense: 6907
  • Leasable Area: 5952
  • EnergySource: Electric,Natural Gas
  • UnitsInBuildingTotal: 27
  • UnitsBelowGrade: false
  • VacancyRate: 20

Tax Info

  • Year: 2022
  • Tax Annual Amount: 20166

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 27, 2023
Closed on
May 21, 2024
Sold by
Haba Erez
Bought by
Lk4528 Llc
Seller's Agent
Craig Ruden
Best Choice Realty LLC
Buyer's Agent
Jasmine Jung
Best Choice Realty LLC
List Price
$2,695,000
Sold Price
$2,410,000
Premium/Discount to List
-$285,000
-10.58%
Views
55
Current Estimated Value
$2,321,018

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$88,982
Avg. Annual Appreciation
1.34%

Purchase Details

Listed on
Nov 29, 2016
Closed on
Apr 12, 2017
Sold by
Academy Housing Llc
Bought by
Haba Erez
Seller's Agent
Andrew Chang
Skyline Properties, Inc.
Buyer's Agent
Ilanit Inbar
Skyline Properties, Inc.
List Price
$3,100,000
Sold Price
$3,000,000
Premium/Discount to List
-$100,000
-3.23%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-3.03%
Original Mortgage
$1,780,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Listed on
Nov 29, 2016
Closed on
Apr 11, 2017
Sold by
Haba Yafit
Bought by
Haba Erez
Seller's Agent
Andrew Chang
Skyline Properties, Inc.
Buyer's Agent
Ilanit Inbar
Skyline Properties, Inc.
List Price
$3,100,000
Sold Price
$3,000,000
Premium/Discount to List
-$100,000
-3.23%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,780,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 28, 2005
Sold by
Hong Sa Kyong and Hong Yong Soon
Bought by
Academy Housing Llc

Purchase Details

Closed on
Jul 27, 2005
Sold by
Husky Housing Llc
Bought by
Hong Sa Kyong and Hong Yong Soon

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$588,921
Interest Rate
5.56%
Mortgage Type
Construction

Purchase Details

Closed on
Jan 19, 1998
Sold by
Kendall James A and Kendall Claudia M
Bought by
Husky Housing Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$645,000
Interest Rate
7.14%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 18, 1992
Sold by
Skubatch Skubatch H and Skubatch Hanna
Bought by
Kendall James A and Claudia M+

Purchase Details

Closed on
Mar 9, 1992
Sold by
Lindjord Norman M
Bought by
Skubatch Skubatch H and Skubatch Hanna
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Warranty Deed $2,410,000 First American Title Insurance
Warranty Deed $3,000,000 Chicago Title
Interfamily Deed Transfer -- Chicago Title
Quit Claim Deed -- --
Warranty Deed $1,626,000 Ticor National
Warranty Deed $766,170 First American Title Company
Warranty Deed $655,000 --
Warranty Deed $545,600 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $1,780,000 Commercial
Previous Owner $1,780,000 Commercial
Previous Owner $524,762 Commercial
Previous Owner $588,921 Construction
Previous Owner $645,000 Seller Take Back
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/22/2024 05/22/24 Sold $2,410,000 -6.9% $405 / Sq Ft
02/25/2024 02/25/24 Pending -- -- --
11/12/2023 11/12/23 Price Changed $2,590,000 -3.9% $435 / Sq Ft
09/27/2023 09/27/23 For Sale $2,695,000 -10.2% $453 / Sq Ft
04/12/2017 04/12/17 Sold $3,000,000 -3.2% $504 / Sq Ft
12/24/2016 12/24/16 Pending -- -- --
12/10/2016 12/10/16 For Sale $3,100,000 -- $521 / 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 $24,400 $2,560,600 $1,085,800 $1,474,800
2023 $22,501 $2,595,200 $1,085,800 $1,509,400
2022 $20,165 $2,679,200 $1,085,800 $1,593,400
2021 $21,363 $2,203,800 $1,085,800 $1,118,000
2020 $21,477 $2,223,400 $1,085,800 $1,137,600
2018 $16,892 $2,098,000 $717,400 $1,380,600
2017 $15,981 $1,710,600 $717,400 $993,200
2016 $14,531 $1,675,100 $620,400 $1,054,700
2015 $12,486 $1,484,600 $562,300 $922,300
2014 -- $1,302,800 $426,500 $876,300
2013 -- $1,339,200 $426,500 $912,700
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2165235

Northwest Multiple Listing Service (NWMLS)

APN: 132130-0060