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Key Homesellers

Jimm Butler
Managing Broker
Key Homesellers, Inc.
Kent, WA 98042

888-854-7848
Direct: 253-639-2751
jimm@KeyHomesellers.com

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Listing 2 out of 66
$4,400,000 For Sale

23816 100th Ave SE
Kent, WA 98031

44 units | Multi Family Home
2.7596 acres - MLS# 1508834 Courtesy of Paragon Real Estate Advisors
Property Photo
1/14

Description

Land Lease Opportunity! 44-unit community located near Kent's Easthill neighborhood. All 2BD/1BTH units with W/D hookups. 35 units have a W/D installed. The apartments are located within a reasonable commuting distance from several major employment centers to the north and south and offers double digit cash flow. The property is a prime target for renovation and repositioning.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: King County
  • Zip Code: 98031
  • Year Built: 1960
  • School District: Kent
  • Sq.Ft.: 33,000 sq ft
  • Units: 44 units
  • # of Parking Spaces: 87
  • Lot Size: 2.7596 acres
  • Area: East Hill
  • Area Number: 330
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 1.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Bedrooms Unit 1: 2
  • Bedrooms Unit 2: 2
  • Bedrooms Unit 3: 2
  • Bedrooms Unit 4: 2
  • Bedrooms Unit 5: 2
  • Bedrooms Unit 6: 2
  • Cap Rate - NOI div LP: 4.20
  • Energy Source(heat): Electric
  • Exterior: Wood, Wood Products
  • Foundation: Poured Concrete
  • General Zoning Class: Multi-Family
  • Gross Adjusted Income: $475477
  • Gross Rent Multiplier: $9
  • Gross Scheduled Income: $508321
  • Heating/Cooling: Baseboard
  • Insurance Expenses: $7560
  • Net Operating Income: $184759
  • Number of Stories in Building: 2
  • Number of Uncovered Spaces: 87
  • Other Expenses: $163289
  • Rent Unit 1: $900
  • Rent Unit 2: $900
  • Rent Unit 3: $900
  • Rent Unit 4: $925
  • Rent Unit 5: $925
  • Rent Unit 6: $925
  • Roof: Composition
  • Square Feet Unit 1: 750
  • Square Feet Unit 2: 750
  • Square Feet Unit 3: 750
  • Square Feet Unit 4: 750
  • Square Feet Unit 5: 750
  • Square Feet Unit 6: 750
  • Total Expenses: $290718, $290718
  • Total Monthly Income: $42360
  • Vacancy Rate: 7
  • Water/Sewer/Garbage: 57550
Courtesy of Paragon Real Estate Advisors
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website is provided courtesy of NorthWest MLS. Real estate listings held by brokerage firms other than Key Homesellers, Inc are marked with the three trees logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-09-18

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Jimm Butler
Managing Broker
Key Homesellers, Inc.
Phone: 253-639-2751
Email: Jimm@KeyHomesellers.com

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