17229 NE 40th Street, Redmond, WA 98052
- $2,172,000
- 4,160
- SqFt
Listing courtesy of Skyline Properties, Inc.. Selling Office: RE/MAX Eastside Brokers, Inc..
- Sold Price
- $2,172,000
- List Price
- $2,350,000
- Status
- SOLD
- MLS#
- 2072269
- Closing Date
- Mar 14, 2024
- Days on Market
- 163
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 4,160
- Area Total SqFt
- 4160
- Annual Tax Ammount
- 11032
- Lot Size (sq ft)
- 25,900
- Sewer
- Available
Property Description
4plex on large lot, 2 min from Microsoft. Value in land, Excellent development site for 2 luxury homes or long term hold with income stream. Views of Lake Sammamish from upper floor. Zoned R-4, Development site suitable for two large view homes with ADU units. Triplex has some remodel and updating.4th unit is spacious remodeled 2 bedroom/2 bath detached house. Property is well maintained and all systems are functioning and operable. Income producing property can generate $9,020 per month, during lot line adjustment process and approval through the city of Redmond. Highly desirable schools. 2 blocks from waterfront and Idylwood Park, lot is 25, 900 sq feet; 140 x 185, zoned R-4, 1 mile to Microsoft and light rail.
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Additional Information
- List Date
- 2023-10-03 00:00:00
- Community
- Microsoft
- Net Operating Income
- $89,148
- Gross Adjusted Income
- $89,148
- Gross Scheduled Income
- $108,240
- Total Monthly Income
- $9,020
- Insurance Expenses
- $4,000
- Water/Sewer/Garbage Expenses
- $3,660
- Gross Rent Multiplier
- 27
- Total Expenses
- $19,092
- Cap Rate
- 3
- Total Number of Units
- 4
- Unit Name
- 17229
- Potential Terms
- Cash Out, Conventional, Owner Financing
- Year Built
- 1951
- View
- Lake
- Roof
- Composition, Flat, Torch Down
- Site Features
- Gas Available, High Speed Internet, Outbuildings, RV Parking, Shop
- Electric Expenses
- 400
- Energy Source
- Electric, Natural Gas
- School District
- Lake Washington
- Elementary School
- Audubon Elem
- Middle School
- Rose Hill Middle
- High School
- Lake Wash High
- Total Monthly Income
- $9,020
- Gross Scheduled Income
- $108,240
- Gross Adjusted Income
- $89,148
- Tax Year
- 2022
- Insurance Expense
- $4,000
- W/S/G Expenses
- $3,660
- Total Expenses
- $19,092
- Net Operating Income
- $89,148
- Gross Rent Multiplier
- 27
- Cap Rate
- 3
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.