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716-718 27th Ave
Seattle, WA 98122
Central Village · Multifamily Property For Sale
·
9 Units
PROPERTY FACTS
| No. Units | 9 | Lot Size | 0.21 AC |
| Property Type | Multifamily | Building Size | 8,807 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1905/1966 |
| Building Class | C | ||
| Zoning | LR2, Seattle | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 8,807 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1905/1966 |
| Zoning | LR2, Seattle |
ABOUT 716-718 27TH AVE , SEATTLE, WA 98122
Marcus & Millichap proudly presents Central Village. 9 unit apartment complex comprised of 4 buildings originally built in 1905 which was completely renovated in 1966 to give property effective year built of 1966. Clean buildings. Roof replaced on 4 buildings 7 and 10 years ago. Aluminum/Vinyl siding. 100% copper plumbing. Updated electrical with electrical panel in each unit. Mixed aluminum dual pane windows and newer vinyl dual pane windows. 9 unit complex comprised of 4 buildings. Value add opportunity. Current rents are 21% below current market rent. Current rent ($1.67/SF). Market rent is $2.11/SF plus. Renovate units with high end finish and achieve rents at $2.50/SF plus. It's always good practice to consider redevelopment potential of any property prior to acquisition. 9000 SF lot zoned LR2. Land value does not currently exceed value of this property as an income producing property but land value will exceed the property value as an income producing property in the future. This property is located within 23rd & Jackson-Union Urban Center Village with no parking requirement for redevelopment in an area with rapid growth.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 585 |
| 2+1 | 2 | - | 719 - 1,139 |
| 3+2 | 1 | - | 1,268 |
| 4+1 | 3 | - | 1,000 - 1,008 |
| 4+2 | 1 | - | 1,100 |
| 3+1 | 1 | - | 988 |
PROPERTY TAXES
| Parcel Number | 796010-0380 | Improvements Assessment | $576,000 |
| Land Assessment | $2,250,000 | Total Assessment | $2,826,000 |
PROPERTY TAXES
