Bought with The Foundation Group LLC
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7001 Rainier AVE S Seattle, WA 98118
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Key Details
Sold Price $5,800,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 16,465 sqft
Price per Sqft $352
Subdivision Brighton
MLS Listing ID 1526054
Sold Date 12/23/19
Style 56 - 10+ Units
Year Built 1959
Annual Tax Amount $25,273
Lot Size 0.534 Acres
Property Sub-Type Multi-Family
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.
Location
State WA
County King
Area 380 - Southeast Seattle
Interior
Interior Features Wall to Wall Carpet, Laminate Hardwood
Flooring Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete
Utilities Available Sewer Connected, Electric
Amenities Available Deck, Fenced-Partially
View Y/N Yes
View Territorial
Roof Type Torch Down
Building
Lot Description Corner Lot, Cul-De-Sac, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Acceptable Financing Assumable, Cash Out, Conventional
Listing Terms Assumable, Cash Out, Conventional
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