Listed by Keller Williams Western Realty, Bought with Hansen Group Real Estate Inc
NOT LISTED FOR SALE

Estimated Value: $902,476

-- Bed
-- Bath
3,158 Sq Ft
$286/Sq Ft Est. Value

Last Sold June 28, 2022

Last sale price $875,000 $277 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $5,289/month

118 Days on Market

Highlights

  • Low Bank Waterfront Property
  • Canal View
  • Ceramic Tile Flooring
  • Home fronts a creek
  • No HOA
  • Wood Siding

About This Home

As of June 2022

Extensively updated income-generating 8-Plex less than a block from Birch Bay State Park offers easy access to restaurants, breweries, and shops. This renovated and extensively-maintained building has 8 fully rented 1 bed, 1 bath units ranging from 300-495 sq ft. 5.4% cap rate at current below-market rents. Canal access behind property for paddle-boarding, kayaking, or fishing. Property includes on-site coin-opp laundry, 3 storage sheds, and dedicated on-site parking. 4 units come furnished. Zoning is Commercial Motel. Co-Listing agent is a licensed Real Estate Broker in Washington State.

Last Agent to Sell the Property

Jennifer Lampe

Keller Williams Western Realty License #131331 Listed on: 02/10/2022

Keller Williams Western Realty

Co-Listed By

Judy Bracken-Commissaris

Keller Williams Western Realty License #33315

Last Buyer's Agent

Jon Hansen

Hansen Group Real Estate Inc License #7746

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1887554

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,602

Year Built

  • Built in 1959

Lot Details

  • 8,149 Sq Ft Lot
  • Lot Dimensions are 80x116x80x127
  • Home fronts a creek
  • Low Bank Waterfront Property
  • Property is in good condition

Home Design

  • Flat Roof Shape
  • Slab Foundation
  • Wood Siding

Interior Spaces

  • 3,158 Sq Ft Home
  • 1-Story Property
  • Canal Views

Flooring

  • Wall to Wall Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 10 Parking Spaces
  • Open Parking

Utilities

  • Cable TV Available

Community Details

  • No Home Owners Association
  • Howeys At Birch Bay Condos
  • Birch Bay Subdivision

Listing and Financial Details

  • Legal Lot and Block 15-16 / B
  • Assessor Parcel Number 4051364710870000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,602

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1959
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Howeys At Birch Bay
  • New Construction: No
  • CalculatedSquareFootage: 3158
  • Special Features: VirtualTour
  • Cumulative Days on Market: 458

Interior Features

  • Possible Use: Commercial
  • Fireplace: No
  • Flooring: Ceramic Tile, Vinyl, Carpet
  • Interior Amenities: Ceramic Tile, Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Coin Op Laundry

Exterior Features

  • Roof: Flat
  • View: Canal
  • Lot Features: Paved
  • View: Yes
  • Waterfront Features: Bank-Low, Creek
  • Waterfront: Yes
  • Exterior Features: Wood
  • Foundation Details: Slab
  • Property Condition: Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 10
  • Open Parking: Yes
  • Total Parking Spaces: 10
  • ParkingUncoveredSpaces: 10

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Cable Connected, Sewer Connected, Electric
  • PowerCompany: PSE
  • SewerCompany: Birch Bay
  • WaterCompany: Birch Bay
  • WaterSewerGarbage: 7768

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Blaine

Lot Info

  • Parcel Number: 4051364710870000
  • Lot Size Acres: 0.1871
  • Lot Size: 80x116x80x127
  • Lot Size Sq Ft: 8149
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV
  • MLSLotSizeSource: Realist
  • ZoningClass: Commercial
  • LotNumber: 15-16

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 14.45
  • LeasedItems: None
  • TotalMonthlyIncome: 6548

Multi Family

  • Gross Scheduled Income: 79585
  • Net Operating Income: 62214
  • Number Of Units Total: 8
  • Electric Expense: 480
  • Insurance Expense: 4556
  • Leasable Area: 3158
  • EnergySource: Electric
  • UnitsInBuildingTotal: 8
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2021
  • Tax Annual Amount: 3602

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 10, 2022
Closed on
Jun 16, 2022
Sold by
Commissaris Judy W and Commissaris Harold W
Bought by
Third Thursday Llc
Seller's Agent
Jennifer Lampe
Keller Williams Western Realty
Buyer's Agent
Jon Hansen
Hansen Group Real Estate Inc
List Price
$1,295,000
Sold Price
$875,000
Premium/Discount to List
-$420,000
-32.43%
Current Estimated Value
$902,476

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$27,476
Avg. Annual Appreciation
0.88%

Purchase Details

Closed on
Oct 22, 2002
Sold by
Baquian Leonardo T and Baquian Cristina A
Bought by
Commissaris Judy and Commissaris Harold W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
5.99%
Mortgage Type
Commercial
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
Third Thursday Llc -- Chicago Title
Commissaris Judy -- Chicago Title Insurance
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Commissaris Judy $50,000
Previous Owner Commissaris Judy $234,000
Previous Owner Commissaris Harold W $312,000
Previous Owner Commissaris Judy $120,000
Closed Commissaris Judy $119,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/28/2022 06/28/22 Sold $875,000 -23.9% $277 / Sq Ft
06/08/2022 06/08/22 Pending -- -- --
05/18/2022 05/18/22 Price Changed $1,150,000 -3.8% $364 / Sq Ft
04/30/2022 04/30/22 Price Changed $1,195,000 -2.4% $378 / Sq Ft
04/05/2022 04/05/22 Price Changed $1,225,000 -5.4% $388 / Sq Ft
03/19/2022 03/19/22 For Sale $1,295,000 0.0% $410 / Sq Ft
02/17/2022 02/17/22 Pending -- -- --
02/10/2022 02/10/22 For Sale $1,295,000 -- $410 / 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 $4,914 $693,102 $320,000 $373,102
2023 $4,914 $693,102 $320,000 $373,102
2022 $3,343 $693,102 $320,000 $373,102
2021 $3,602 $351,000 $160,000 $191,000
2020 $3,730 $351,000 $160,000 $191,000
2019 $3,810 $351,000 $160,000 $191,000
2018 $4,199 $351,000 $160,000 $191,000
2017 $3,769 $351,000 $160,000 $191,000
2016 $3,640 $351,000 $160,000 $191,000
2015 $3,721 $326,000 $160,000 $166,000
2014 -- $326,000 $160,000 $166,000
2013 -- $326,000 $160,000 $166,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1887554

Northwest Multiple Listing Service (NWMLS)

APN: 405136-471087-0000