Listed by WPI Real Estate Services, Inc., Bought with eLink Realty
$1,311,600
SOLD AUG 21, 2017
-- Bed
-- Bath
3,280 Sq Ft
3,500 Sq Ft Lot

Recently Sold

$400 Per Sq Ft

19% Above List Price

7 Days on Market

Highlights

  • Deck
  • Wood Flooring
  • 4-minute walk to Shiga's P-Patch Community Garden
  • Hamilton International Middle School Rated A
  • Wood Siding

About This Home

As of August 2017

Investor's Dream Property - LOCATION, STABLE INCOME, and POTENTIAL! Handsome property with old charm, yet high cap rate 6.4%. In the heart of U-District, zoned LR2, land use as duplex. 2 units but rented to 1 group. Zero vacancy in past 5 years. Pre-leased at $6800 per month for Sep '17-Aug '18. Tenants pay all utilities. Walk to UW, shops & restaurants. Blocks away from future Light Rail Station. 2 private parking in alley. Best deal on the market. Offers no later than 1 pm on 7/18/17.

Last Agent to Sell the Property

Jane Nipius

WPI Real Estate Services, Inc. License #30464 Listed on: 07/10/2017

Last Buyer's Agent

Sam Chui

eLink Realty License #52354

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1157457

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,582

Year Built

  • Built in 1909

Lot Details

  • 3,500 Sq Ft Lot
  • Property is in average condition

Home Design

  • Duplex
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,280 Sq Ft Home
  • 2-Story Property

Flooring

  • Wood
  • Ceramic Tile

Parking

  • 2 Parking Spaces
  • Open Parking

Additional Features

  • Deck
  • Natural Gas Connected

Community Details

  • Pettits University Condos
  • University District Subdivision

Listing and Financial Details

  • Legal Lot and Block 8-9 / 4
  • Assessor Parcel Number 6746700310

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,582

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1909
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Pettits University
  • New Construction: No
  • CalculatedSquareFootage: 3280
  • SOCComments: Must attending open houses
  • Special Features: None
  • Cumulative Days on Market: 339

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, See Remarks
  • Interior Amenities: Forced Air, Ceramic Tile, Hardwood
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: See Remarks

Exterior Features

  • Roof: Composition
  • Lot Features: Curbs, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: See Remarks
  • Property Condition: Average
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 2
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Utilities: Sewer Connected, Electric, Natural Gas Connected
  • PowerCompany: Seattle City Light
  • SewerCompany: Seattle Public Utilities
  • WaterCompany: Seattle Public Utilities
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Association Fee Frequency: Annually

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 6746700310
  • Lot Size Acres: 0.0803
  • Lot Size Sq Ft: 3500
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck
  • MLSLotSizeSource: King County
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family
  • LotNumber: 8-9

Green Features

  • Power Production Type: Electric, Natural Gas

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 13
  • LeasedItems: None
  • TotalMonthlyIncome: 6800

Multi Family

  • Gross Scheduled Income: 81600
  • Net Operating Income: 70242
  • Number Of Units Total: 2
  • Insurance Expense: 956
  • Leasable Area: 3250
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: true
  • VacancyRate: 0

Tax Info

  • Year: 2017
  • Tax Annual Amount: 7582

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 10, 2017
Closed on
Aug 8, 2017
Sold by
Wang Kuansan and Gan En Tsyn
Bought by
Zhang Wei and Zhao Ping
Seller's Agent
Jane Nipius
WPI Real Estate Services, Inc.
Buyer's Agent
Sam Chui
eLink Realty
List Price
$1,098,000
Sold Price
$1,311,600
Premium/Discount to List
$213,600
19.45%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.22%

Purchase Details

Closed on
Jun 23, 2011
Sold by
Denall Tatiana
Bought by
Wang Kuansan and Gan En Tsyn

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$405,000
Interest Rate
4.55%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 18, 2005
Sold by
Oneill Daniel J
Bought by
Denall Tatiana

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$571,500
Interest Rate
2.62%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Oct 10, 1989
Sold by
Smith Eric P
Bought by
O'Neill Daniel J
Source: Public Records

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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 $1,311,600 First American Title Ins Co
Warranty Deed $540,000 Pacific Nw Tit
Warranty Deed $635,000 Old Republic T
Warranty Deed $163,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $786,960 Adjustable Rate Mortgage/ARM
Previous Owner $405,000 New Conventional
Previous Owner $599,000 Unknown
Previous Owner $138,900 Credit Line Revolving
Previous Owner $571,500 Negative Amortization
Previous Owner $359,000 Unknown
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/08/2025 04/08/25 For Sale $1,590,000 +21.2% $443 / Sq Ft
08/21/2017 08/21/17 Sold $1,311,600 +19.5% $400 / Sq Ft
07/18/2017 07/18/17 Pending -- -- --
07/10/2017 07/10/17 For Sale $1,098,000 -- $335 / 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 $10,531 $1,081,000 $939,000 $142,000
2023 $9,913 $1,035,000 $886,000 $149,000
2022 $10,037 $1,213,000 $836,000 $377,000
2021 $9,522 $1,082,000 $738,000 $344,000
2020 $9,208 $973,000 $637,000 $336,000
2018 $8,745 $955,000 $425,000 $530,000
2017 $7,582 $876,000 $396,000 $480,000
2016 $7,091 $784,000 $354,000 $430,000
2015 $6,837 $716,000 $320,000 $396,000
2014 -- $708,000 $226,000 $482,000
2013 -- $603,000 $193,000 $410,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1157457

Northwest Multiple Listing Service (NWMLS)

APN: 674670-0310