NOT LISTED FOR SALE

550 Madison Ave N Bainbridge Island, WA 98110

-- Bed
-- Bath
9,464 Sq Ft
0.72 Acres

Last Sold September 12, 2019

Last sale price $1,750,000 $185 Per Sq Ft

11 Days on Market

Highlights

  • Patio
  • Wood Siding
  • Wall to Wall Carpet
  • Bainbridge High School Rated A

About This Home

As of September 2019

13 UNIT APARTMENT COMPLEX (10 - 1 BEDROOM UNITS & 3 - 2 BEDROOM UNITS) IN THE HEART OF BAINBRIDGE ISLAND - RENTS ARE BELOW MARKET DUE TO GRANTS/SUBSIDIES, WHICH EXPIRE IN JULY AND WILL THEN ALLOW THE NEW OWNER TO INCREASE RENTS TO CURRENT MARKET - IDEAL FOR A CONTRACTOR WHO WANTS TO BUILD A HUGE AMOUNT OF SWEAT EQUITY - PAVED, OFF-STREET PARKING - VERY CLOSE TO DOWNTOWN BAINBRIDGE ISLAND AND ALL STORES, SHOPS & SEATTLE FERRY.

Last Agent to Sell the Property

Merv Killoran

John L. Scott, Inc. License #9200 Listed on: 05/30/2019

John L. Scott, Inc.

Last Buyer's Agent

Tom Daniels

Seaview Investment Group LLC License #18993

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: NWM1466127

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1972

Lot Details

  • 0.72

Home Design

  • Slab Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Outdoor Features

  • Patio
  • Outbuilding

Community Details

  • 13 Units
  • Bainbridge Island Community

Listing and Financial Details

  • Assessor Parcel Number 26250220362009

Property Details

Home Type

Multi-Family

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Style: 56 - 10+ Units
  • Year Built: 1972
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Floor Covering: Vinyl, Wall To Wall Carpet
  • Estimated Sq Ft: 9464

Exterior Features

  • Exterior: Wood
  • Foundation: Slab
  • Roof: Composition

Garage/Parking

  • Numberof Uncovered Spaces: 20
  • Total Numberof Parking Spaces: 20

Utilities

  • Electrical Expenses: 1440
  • Water/Sewer/Garbage: 14592
  • Heating And Cooling: Baseboard
  • Power Company: PSE
  • Sewer: Sewer Connected
  • Sewer Company: City
  • Water Company: City
  • Water Source: Public

Condo/Co-op/Association

  • Numberof Units in Building: 13
  • Community Name: Bainbridge Island

Schools

  • Elementary School: Buyer To Verify
  • Middle School: Buyer To Verify
  • High School: Bainbridge Isl
  • School District: BIS

Lot Info

  • General Zoning Classification: Residential
  • Lot Details: Curbs, Paved Street
  • Lot Dimensions: 174X180
  • Lot Sq Ft: 31363
  • Parcel Number: 26250220362009
  • Zoning Jurisdiction: City

Multi Family

  • Gross Adjusted Income: 109308
  • Gross Rent Multiplier: 11
  • Gross Scheduled Income: 109308
  • Insurance Expenses: 1588
  • Other Expenses: 58242
  • Total Expenses: 75862
  • Total Monthly Income: 9109
  • Net Operating Income: 33446
  • Total Expenses: 75862

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

Property History

Date Event Price List to Sale Price per Sq Ft
09/12/2019 09/12/19 Sold $1,750,000 +45.8% $185 / Sq Ft
06/10/2019 06/10/19 Pending -- -- --
05/30/2019 05/30/19 For Sale $1,200,000 -- $127 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Merv Killoran

    Seller's Agent in 2019

    Merv Killoran

    John L Scott

    (360) 308-2255

    1 in this area

    47 Total Sales

    Merv Killoran
    Section Image

  • T

    Buyer's Agent in 2019

    Tom Daniels

    Seaview Investment Group LLC

    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: NWM1466127

Northwest Multiple Listing Service (NWMLS)
Washington Kitsap County Bainbridge Island 98110

550 Madison Ave N, Bainbridge Island, WA

This home is located at 550 Madison Ave N, Bainbridge Island, WA 98110 since 30 May 2019. This property was built in 1972. 550 Madison Ave N is a home located in Kitsap County with nearby schools including Bainbridge High School, Madrona School, and St. Cecilia Catholic 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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