401 521 Madrona Way NE #1-38
Bainbridge Island, WA 98110
$21,800,000
- Est. $122,246/mo
- Calculate
- 42,660 Sq. Ft.
- 2019 Year Built
- 1.12 Acres
Property Highlights
- Distance to Ferry:
- 0.8 mi
- Neighborhood:
- Kitsap County
- Acreage:
- 1.12 acres
Listing Courtesy of Northwest MLS / Kidder Mathews and Seaview Investment Group LLC
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Property Description
38 Units,Downtown Winslow,Market Cap Rate 4.43%, In place Cap rate 4.27%,demographics comparable to Bellevue, considered to be an ‘A’ submarket outside of Seattle, High end construction built in 2019/20,The currently below-market rent provides the buyer an opportunity to increase income while likely maintaining high occupancy(currently approx.100% occupied)no concessions. Built as condominiums, offering a new owner an alternative exit strategy in the form of selling individual buildings or townhome units. The Walk provide a buyer a low-risk investment with near and long-term growth potential. 6th safest city in Wash State, low utility costs- Zero Energy project with each home designed to be Net Zero energy with low maintenance solar panels.
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Property Details
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- MLS ID:
- 1711386
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- Area:
- Bainbridge Islan
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- Community:
- Bainbridge Island
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- County:
- Kitsap County
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- Elementary School:
- Buyer To Verify
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- Flooring:
- Bamboo/Cork, Ceramic Tile, Concrete, Hardwood, Carpet
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- High School:
- Bainbridge Isl
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- Lot Size Sq. Ft.:
- 48,790
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- Lot Style:
- Paved, Sidewalk
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- Property Subtype:
- Multi-Family
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- Property Type:
- Residential Income
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- Status:
- Sold
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- Year Built:
- 2019
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Additional Highlights
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- Exterior:
- Cement/Concrete, Metal/Vinyl
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- Furnished:
- Unfurnished
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- Heating / Cooling:
- Ductless HP-Mini Split, Heat Pump
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- Parking:
- 40
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- Roofing:
- Flat
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- Total Number of Units:
- 38
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- Water Source:
- Public
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Amenities
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- Site Features:
- Electric Car Charging, High Speed Internet
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Taxes and Fees
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- Taxes (Est):
- $152,667
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- Taxes (Year):
- 2020
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Request Info
401 521 Madrona Way NE #1-38, Bainbridge Island Washington, 98110 United StatesDisclaimer: The information contained in this listing has not been verified by Realogics Sotheby's International Realty and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by Realogics Sotheby's International Realty and should be verified by the buyer.