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936 N 198th St
Seattle, WA 98133
The Encore Apartments · Multifamily Property For Sale
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12 Units
Executive Summary
The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents and get this building to a 7.18% CAP Rate. Excellent value-add opportunity. All 12 units are Two-Bed/One-Bath units averaging about 700 square feet each. Ample open parking available on site that has been re-paved and re-striped. Building has updated electrical panels and a newer TPO roof. Coin-operated common laundry available. Conveniently located in Shoreline, property has easy access to Rapid Ride Transit, Highway 99, Interstate-5, and the 185th Street Light Rail Station.
Property Facts
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 6.18% | Building Size | 8,400 SF |
| Gross Rent Multiplier | 9.68 | Average Occupancy | 96% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.38/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R24 | ||
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| Gross Rent Multiplier | 9.68 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 8,400 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.38/1,000 SF |
| Zoning | R24 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $1,900 | 700 |
Property Taxes
| Parcel Number | 222790-0075 | Improvements Assessment | $1,387,600 |
| Land Assessment | $1,154,400 | Total Assessment | $2,542,000 |
Property Taxes
Parcel Number
222790-0075
Land Assessment
$1,154,400
Improvements Assessment
$1,387,600
Total Assessment
$2,542,000
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