NOT LISTED FOR SALE

501 N Bowdoin Place Seattle, WA 98103

Fremont Neighborhood
-- Bed
-- Bath
5,610 Sq Ft
6,000 Sq Ft Lot

Last Sold August 14, 2023

Last sale price $2,000,000 $357 Per Sq Ft

6 Days on Market

Highlights

  • No HOA
  • Ceramic Tile Flooring
  • Partially Fenced Property
  • B.F. Day Elementary School Rated A-
  • Baseboard Heating
  • 5-minute walk to B.F. Day Playground

About This Home

As of August 2023

Loan rates will come down eventually, but in the interim, it's time to be on the lookout for properties w/actual upside potential. Shilo Apartments is an 8-unit building, comprised of (3) 2bd units, (3) 1bd units & (2) roomy studios. Only one unit has been fully remodeled. While other units have been simple improvements like paint & flooring, there exists a very real opportunity for a capable investor to improve this property, & bring rents up to their market potential. The cap rate is currently sitting at 4.75%, but could easily reach 5.5%+ w/fairly modest improvements, or higher if an investor wants to upscale the units or get creative with shorter-term, higher rent leases. Located in Fremont, a couple blocks from shopping & restaurants.

Last Agent to Sell the Property

Larry Mandel

Three Keys Real Estate License #1928 Listed on: 07/08/2023

Last Buyer's Agent

Larry Mandel

Three Keys Real Estate License #1928 Listed on: 07/08/2023

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2136592

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,672

Year Built

  • Built in 1955

Lot Details

  • 6,000 Sq Ft Lot
  • Street terminates at a dead end
  • Partially Fenced Property

Home Design

  • Brick Exterior Construction
  • Composition Roof

Interior Spaces

  • 5,610 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Ceramic Tile
  • Vinyl

Utilities

  • Baseboard Heating
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • Fremont Subdivision

Listing and Financial Details

  • Assessor Parcel Number 1930300351

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,672

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1955
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 5610
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 367

Interior Features

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

Exterior Features

  • Roof: Composition
  • Lot Features: Curbs, Dead End Street, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Brick
  • Property Condition: Fair
  • 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: Baseboard, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: Seattle City Light
  • SewerCompany: SPU
  • WaterCompany: SPU
  • CableConnected: Comcast
  • InternetConnected: Comcast
  • WaterSewerGarbage: 575

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 1930300351
  • Lot Size Acres: 0.1377
  • Lot Size Sq Ft: 6000
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Fenced-Partially
  • MLSLotSizeSource: Public Records
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 14.8
  • LeasedItems: None
  • TotalMonthlyIncome: 11299

Multi Family

  • Gross Scheduled Income: 11535
  • Net Operating Income: 8128
  • Number Of Units Total: 8
  • Electric Expense: 60
  • Insurance Expense: 754
  • Leasable Area: 5410
  • EnergySource: Electric
  • UnitsBelowGrade: false
  • VacancyRate: 3

Tax Info

  • Year: 2023
  • Tax Annual Amount: 1672

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

Property History

Date Event Price Change Sq Ft Price
08/14/2023 08/14/23 Sold $2,000,000 -2.4% $357 / Sq Ft
07/14/2023 07/14/23 Pending -- -- --
07/08/2023 07/08/23 For Sale $2,050,000 -- $365 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • L

    Seller's Agent in 2023

    Larry Mandel

    Three Keys Real Estate

    (425) 939-8379

    2 in this area

    27 Total Sales

    Larry Mandel
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2136592

Northwest Multiple Listing Service (NWMLS)
Washington King County Seattle 98103 Fremont

501 N Bowdoin Place, Seattle, WA

This home is located at 501 N Bowdoin Place, Seattle, WA 98103 since 08 July 2023. This property was built in 1955. 501 N Bowdoin Place is a home located in King County with nearby schools including B.F. Day Elementary School, Hamilton International Middle School, and Lincoln 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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