Listed by Keller Williams Rty Tacoma
$1,200,000
PENDING - BACKUP OFFER REQUESTED

7070 E Marginal Way S Seattle, WA 98108

Georgetown Neighborhood

Estimated payment $8,307/month

Total Views 1,100
-- Bed
-- Bath
7,890 Sq Ft
$152 Price per Sq Ft

Highlights

  • 0.24 Acre Lot
  • Corner Lot
  • Partially Fenced Property
  • Maple Elementary School Rated A-
  • No HOA
  • Wood Siding

About This Home

Convert this motel into a 16 unit apartment complex! Estimated renovation cost at $1,300,000 for an estimated $3,000,000 finished value. Tons of sweat equity to be had as an investment. All numbers provided on rents/financials are an estimate proforma based on a newly renovated complex. There is currently no income on the building. Unit sizes would range from 346 sq ft to 433 sq feet. 4 units in the basement, 6 units on main floor, and 6 units upstairs. Tons of parking available on site. Tax Assessed Value at $1,945,500! Est. value of $3.1M after renovations into a multi-family dwelling are complete.

Listing Agent

Greg Stock

Keller Williams Rty Tacoma License #114407 Listed on: 04/23/2025

Keller Williams Rty Tacoma

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2362738

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1919

Lot Details

  • 10,443 Sq Ft Lot
  • Partially Fenced Property
  • Corner Lot

Home Design

  • Fixer Upper
  • Poured Concrete
  • Bitumen Roof
  • Wood Siding

Interior Spaces

  • 7,890 Sq Ft Home
  • 2-Story Property

Parking

  • 22 Parking Spaces
  • Open Parking

Community Details

  • No Home Owners Association
  • Georgetown Subdivision

Listing and Financial Details

  • Assessor Parcel Number 3468800455

Property Details

Home Type

Multi-Family

Year Built

Built in 1919

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1919
  • MLS Status: Pending
  • Prev Status: Pending
  • New Construction: No
  • CalculatedSquareFootage: 7890
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 85

Interior Features

  • Possible Use: Commercial
  • Fireplace: No
  • Flooring: See Remarks
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0

Exterior Features

  • Roof: Torch Down
  • Lot Features: Corner Lot, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Construction Type: Wood
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Fixer
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 22
  • Open Parking: Yes
  • Total Parking Spaces: 22
  • ParkingUncoveredSpaces: 22

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: Partially Fenced
  • Cooling: None
  • Cooling Y N: No
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: City of Seattle
  • WaterCompany: City of Seattle
  • WaterSewerGarbage: 10060

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 10061

Schools

  • Junior High Dist: Seattle
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 3468800455
  • Lot Size Acres: 0.2397
  • Lot Size Sq Ft: 10443
  • Zoning Description: Commercial
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Fenced-Partially
  • MLSLotSizeSource: Public Records
  • MLSSquareFootageSource: Public Records
  • ZoningJurisdiction: City

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 3.9
  • LeasedItems: None
  • TotalMonthlyIncome: 310578

Multi Family

  • Gross Scheduled Income: 310578
  • Net Operating Income: 188728
  • Electric Expense: 10060
  • Insurance Expense: 6669
  • Leasable Area: 7890
  • EnergySource: Electric
  • UnitsInBuildingTotal: 16
  • UnitsBelowGrade: false
  • VacancyRate: 5

Tax Info

  • Year: 2024
  • Tax Annual Amount: 35022

MLS Schools

  • Elementary School: Buyer To Verify

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





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 $20,164 $1,945,500 $939,800 $1,005,700
2023 $22,780 $2,283,300 $939,800 $1,343,500
2022 $16,055 $1,856,900 $939,800 $917,100
2021 $17,081 $1,606,100 $939,800 $666,300
2020 $16,316 $1,646,700 $939,800 $706,900
2018 $12,100 $1,516,100 $396,800 $1,119,300
2017 $10,936 $1,116,800 $396,800 $720,000
2016 $10,390 $1,042,400 $365,500 $676,900
2015 $8,875 $970,300 $365,500 $604,800
2014 -- $842,200 $355,000 $487,200
2013 -- $796,200 $334,100 $462,100
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/26/2025 05/26/25 Pending -- -- --
05/06/2025 05/06/25 For Sale $1,200,000 0.0% $152 / Sq Ft
04/24/2025 04/24/25 Pending -- -- --
04/23/2025 04/23/25 For Sale $1,200,000 -- $152 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $1,730,000 Chicago Title
Warranty Deed $1,042,000 Chicago Title
Warranty Deed $800,000 First American
Warranty Deed $710,000 None Available
Warranty Deed $400,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $122,000 New Conventional
Open $500,000 Unknown
Open $1,421,000 Commercial
Previous Owner $860,000 Commercial
Previous Owner $843,000 Commercial
Previous Owner $50,000 Credit Line Revolving
Previous Owner $680,000 Commercial
Previous Owner $365,000 Commercial
Source: Public Records

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Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2362738

Northwest Multiple Listing Service (NWMLS)

APN: 346880-0455