22805 30Th Ave S Seattle, WA 98198
11-unit apartment building with in-place 6.5% cap rate.
Property size:
7,300 SFProperty Features for 22805 30Th Ave S
General Information
- Size
- 7,300 SF
Building Details
- Year built
- 1968
Source:
Corcoran
Listing Agent: Brian Platt
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Vashon Vue Apartments Opportunity
The Vashon Vue Apartments, an 11-unit building, offers the opportunity to acquire an in-place 6.5% current cap rate with operational upside to reach a 6.8% proforma cap rate. The property includes the opportunity to assume the existing loan with an approximate balance of $1,155,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with two classic and one renovated 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms. The location of the Vashon Vue offers proximity to several well-r.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.2945032
- Latitude
- 47.3975781
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FAQs
What type of property is this?
Apartment building - 11-unit apartment building with in-place 6.5% cap rate.
Where is this apartment building located?
The property is located at 22805 30Th Ave S Seattle, WA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: - Opportunity to assume existing loan with ~$1,155,000 balance at 5% interest fixed until January 2031.; - In-place 6.5% current cap rate with operational upside to reach 6.8% proforma cap rate.; - Mix of unit types: four classic and four renovated 1-bedroom/1-bathroom units (620 sq ft), plus two classic and one renovated 2-bedroom/1-bathroom units (780 sq ft).