Log In/Sign Up
Your email has been sent.
Kirkland 8 12607 NE 119th St 8 Unit Apartment Building $2,050,000 ($256,250/Unit) 4.20% Cap Rate Kirkland, WA 98034
INVESTMENT HIGHLIGHTS
- 8 large studio units with lofts
- Renovation value-add potential to increase NOI 30%
- Prime Eastside location - blocks from the Village at Totem Lake
- $256K/unit - priced well below replacement costs
- In-unit washer and dryer
- 11 off-street parking spaces (8 reserved + 3 visitor spaces)
EXECUTIVE SUMMARY
8 Unit multifamily property situated in the heart of Kirkland’s rapidly growing Totem Lake neighborhood. All large studio units, with lofted sleeping areas and in-unit washer and dryers. Offers a compelling value-add opportunity. With light renovations and strategic repositioning, investors have the potential to increase NOI by approximately 30%, capitalizing on the strong rental demand and premium achievable rents in this submarket. Its prime location and unique unit layouts provide a strong foundation for both immediate income and long-term appreciation.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$86,115
|
$19.82
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $86,115 |
| Annual Per SF | $19.82 |
PROPERTY FACTS
| Price | $2,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $256,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 4.20% | Building Size | 4,344 SF |
| Gross Rent Multiplier | 13.94 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1982 |
| Property Type | Multifamily | Parking Ratio | 2.53/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM 1.8 | ||
| Price | $2,050,000 |
| Price Per Unit | $256,250 |
| Sale Type | Investment |
| Cap Rate | 4.20% |
| Gross Rent Multiplier | 13.94 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 4,344 SF |
| No. Stories | 2 |
| Year Built | 1982 |
| Parking Ratio | 2.53/1,000 SF |
| Zoning | RM 1.8 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $1,477 | 543 |
1 1
Walk Score®
Very Walkable (75)
1 of 14
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Kirkland 8 | 12607 NE 119th St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.