NOT LISTED FOR SALE

Estimated Value: $1,457,000 - $2,082,000

14 Beds
3 Baths
3,930 Sq Ft
$439/Sq Ft Est. Value

Last Sold February 22, 2021

Last sale price $1,375,000 $350 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $10,637/month

31 Days on Market

Highlights

  • Deck
  • Territorial View
  • Patio
  • Laurelhurst Elementary School Rated A-
  • Wood Flooring
  • 3-minute walk to Shiga's P-Patch Community Garden

About This Home

As of February 2021

Price Reduction below appraised value! This vintage triplex is full of old world charm & always rented. The 2 main side by side units boast large, bright living rooms w/ fireplaces, built ins & hardwoods. Each has 2 bedrooms & bath up & their own basements w/ storage & w/d. 5506 has upper deck off bedroom with a view of the mountains. Gas heat on one side, oil on other. Lower unit (5506 1/2) is like a very cool live aboard boat--efficiently set up. Garden space & 2 car garage off alley. Gorgeous tree lined street w/mostly owner occupied homes close to parks & shops.

Last Buyer's Agent

Monica Tracey

HomeSmart Real Estate Assoc License #37476

HomeSmart Real Estate Assoc

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1667493

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,960

Year Built

  • Built in 1923

Lot Details

  • 5,400 Sq Ft Lot
  • Partially Fenced Property

Property Views

  • Territorial
  • Limited

Home Design

  • Triplex
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,930 Sq Ft Home
  • 3-Story Property

Flooring

  • Wood
  • Wall to Wall Carpet
  • Ceramic Tile

Parking

  • 2 Parking Spaces
  • 2 Covered Spaces

Outdoor Features

  • Deck
  • Patio

Utilities

  • Cable TV Available

Community Details

  • Thompsons Univ. Add Condos
  • Ravenna Subdivision

Listing and Financial Details

  • Legal Lot and Block 2 / 7
  • Assessor Parcel Number 8615800385

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,960

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 53 - Tri-plex
  • Year Built: 1923
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Thompsons Univ. Add
  • New Construction: No
  • CalculatedSquareFootage: 3930
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 392

Interior Features

  • Possible Use: Residential
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood, Carpet
  • Interior Amenities: Forced Air, Ceramic Tile, Hardwood, Wall to Wall Carpet
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Basement

Exterior Features

  • Roof: Composition
  • View: Partial, Territorial
  • Lot Features: Alley, Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Structure Type: Triplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking: No
  • Total Parking Spaces: 2
  • ParkingUncoveredSpaces: 0

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, Natural Gas Available, Sewer Connected, Electric, Natural Gas Connected, Oil
  • PowerCompany: SCL
  • SewerCompany: SPU
  • WaterCompany: SPU
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Junior High Dist: Seattle

Lot Info

  • Parcel Number: 8615800385
  • Lot Size Acres: 0.124
  • Lot Size Sq Ft: 5400
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially,Gas Available,Patio
  • MLSLotSizeSource: KCR
  • ZoningJurisdiction: City
  • ZoningClass: Residential
  • LotNumber: 2

Green Features

  • Power Production Type: Electric, Natural Gas, Oil

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 20
  • LeasedItems: None
  • TotalMonthlyIncome: 5600

Multi Family

  • Gross Scheduled Income: 67200
  • Net Operating Income: 54996
  • Number Of Units Total: 3
  • Insurance Expense: 1244
  • Leasable Area: 3930
  • UnitsInBuildingTotal: 3
  • UnitsBelowGrade: true
  • VacancyRate: 0

Tax Info

  • Year: 2019
  • Tax Annual Amount: 10960

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 14, 2020
Closed on
Feb 19, 2021
Sold by
Lippman Kimberly
Bought by
Uppman Alan
Buyer's Agent
Monica Tracey
HomeSmart Real Estate Assoc
List Price
$1,450,000
Sold Price
$1,375,000
Premium/Discount to List
-$75,000
-5.17%
Current Estimated Value
$1,725,174

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$350,174
Avg. Annual Appreciation
3.16%
Original Mortgage
$1,031,250
Outstanding Balance
$934,166
Interest Rate
2.65%
Mortgage Type
New Conventional
Estimated Equity
$649,094

Purchase Details

Listed on
Nov 14, 2020
Closed on
Feb 17, 2021
Sold by
Larson Susan M
Bought by
Lippman Alan
Buyer's Agent
Monica Tracey
HomeSmart Real Estate Assoc
List Price
$1,450,000
Sold Price
$1,375,000
Premium/Discount to List
-$75,000
-5.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,031,250
Outstanding Balance
$934,166
Interest Rate
2.65%
Mortgage Type
New Conventional
Estimated Equity
$649,094

Purchase Details

Closed on
Aug 4, 2005
Sold by
Malone Exchange Llc
Bought by
Larson Susan M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,550
Interest Rate
5.56%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jul 14, 2005
Sold by
Mclallin Marguerite L
Bought by
Momco Investments Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,550
Interest Rate
5.56%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jul 11, 2005
Sold by
Price John R and Price Suzanne L
Bought by
Larson Susan M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,550
Interest Rate
5.56%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Dec 24, 1986
Sold by
Hubbard Imogene F
Bought by
Price John R and Price Suzanne L
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
Uppman Alan -- Old Republic Title Ltd
Lippman Alan $1,375,000 Old Republic Title Ltd
Larson Susan M -- Commonwealth L
Momco Investments Lp -- Pacific Nw Tit
Larson Susan M $699,000 Commonwealth L
Price John R $165,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lippman Alan $1,031,250
Previous Owner Larson Susan M $288,467
Previous Owner Larson Susan M $333,000
Previous Owner Larson Susan M $404,000
Previous Owner Larson Susan M $199,550
Previous Owner Larson Susan M $359,650
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/22/2021 02/22/21 Sold $1,375,000 0.0% $350 / Sq Ft
12/15/2020 12/15/20 Pending -- -- --
12/12/2020 12/12/20 Price Changed $1,375,000 -5.2% $350 / Sq Ft
11/14/2020 11/14/20 For Sale $1,450,000 -- $369 / 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 $15,055 $1,563,000 $779,000 $784,000
2023 $14,896 $1,496,000 $735,000 $761,000
2022 $11,902 $1,753,000 $694,000 $1,059,000
2021 $11,274 $1,277,000 $613,000 $664,000
2020 $11,224 $1,148,000 $529,000 $619,000
2018 $11,537 $1,262,000 $557,000 $705,000
2017 $10,003 $1,157,000 $519,000 $638,000
2016 $9,036 $1,035,000 $464,000 $571,000
2015 $8,563 $911,000 $420,000 $491,000
2014 -- $885,000 $303,000 $582,000
2013 -- $754,000 $259,000 $495,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1667493

Northwest Multiple Listing Service (NWMLS)

APN: 861580-0385