7001 Rainier Ave S
Seattle, WA 98118
$5,800,000
- Est. $32,472/mo
- Calculate
- 16,465 Sq. Ft.
- 1959 Year Built
- 0.53 Acres
Property Highlights
- Neighborhood:
- Southeast Seattle
- Light Rail Distance:
- 0.49 mi (Othello Station)
- Acreage:
- 0.53 acres
Listing Courtesy of Northwest MLS / The Foundation Group LLC and The Foundation Group LLC
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Property Description
Just listed - Cascade Court - Rare opportunity to own an in-city renovated 28-unit priced under $215,000 per unit. Immediate upside in rent growth and ability to collect more for utility bill back. Day-one professionally managed complex above a 5.25% cap rate of passive income. Great accessibility to rapid transit lines and light rail – 5 blocks from Othello Station. Up-zoned in May 2019 to NC3-55 allowing for 5 to 6 story development.
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Property Details
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- MLS ID:
- 1526054
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- Area:
- 380
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- Community:
- Brighton
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- County:
- King County
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- Flooring:
- Laminate Hardwood, Wall to Wall Carpet
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- Interior Square Footage:
- 16,465
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- Lot Size Sq. Ft.:
- 23,264
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- Lot Style:
- Corner Lot, Cul-de-sac, Sidewalk
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- Property Type:
- Mult
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- Year Built:
- 1959
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Additional Highlights
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- Exterior:
- Cement/Concrete
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- Gross Income:
- $443,716
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- Heating / Cooling:
- Baseboard
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- Parking:
- 31
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- Roofing:
- Torch Down
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- Total Number of Units:
- 28
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- View:
- N
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Amenities
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- Site Features:
- Deck, Fenced-Partially
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Taxes and Fees
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- Taxes (Est):
- $25,273
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- Taxes (Year):
- 2019
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- Total Operating Expense:
- $128,967
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Request Info
7001 Rainier Ave S, Seattle Washington, 98118 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.