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3208 Rainier Ave S
Seattle, WA 98144
Southern Rice Apartments · Multifamily Property For Sale
·
12 Units
EXECUTIVE SUMMARY
Total Units: 2 Commercial Spaces and 12 apartments
Parking: 2 spaces
Year Built: 2018
Construction Type: Wood frame
Property SF: 13,708 (KC records) / 15,117 Owner Records
Lot Size: 7,523 (KC records)
KC Parcel # 128230-0260
Zoning SM-NR 95 (M)
3 blocks away from Mt. Baker light rail station
Close to I-5, I-90, downtown Seattle and the First Hill Medical Community
Spacious apartments with modern finishes
Value-add opportunity with vacant retail units and under-market apartment rents
Price $3,495,000 (Price/SF: $231)
CAP Rate: 5.54% actual / 8.03% proforma
Parking: 2 spaces
Year Built: 2018
Construction Type: Wood frame
Property SF: 13,708 (KC records) / 15,117 Owner Records
Lot Size: 7,523 (KC records)
KC Parcel # 128230-0260
Zoning SM-NR 95 (M)
3 blocks away from Mt. Baker light rail station
Close to I-5, I-90, downtown Seattle and the First Hill Medical Community
Spacious apartments with modern finishes
Value-add opportunity with vacant retail units and under-market apartment rents
Price $3,495,000 (Price/SF: $231)
CAP Rate: 5.54% actual / 8.03% proforma
PROPERTY FACTS
| Price Per Unit | $291,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.54% | Building Size | 15,117 SF |
| No. Units | 12 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 0.66/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | SM-NR 95 (M) - (Seattle Mixed, Uptown) | ||
| Price Per Unit | $291,250 |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 15,117 SF |
| No. Stories | 4 |
| Year Built | 2018 |
| Parking Ratio | 0.66/1,000 SF |
| Zoning | SM-NR 95 (M) - (Seattle Mixed, Uptown) |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | - | 1,130 |
PROPERTY TAXES
| Parcel Number | 128230-0260 | Improvements Assessment | $3,210,200 |
| Land Assessment | $1,052,800 | Total Assessment | $4,263,000 |
PROPERTY TAXES
Parcel Number
128230-0260
Land Assessment
$1,052,800
Improvements Assessment
$3,210,200
Total Assessment
$4,263,000
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