6103 -6107 NE 194th Place, Kenmore, WA 98028
- $1,165,000
- 3,170
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Skyline Properties, Inc..
- Sold Price
- $1,165,000
- List Price
- $1,225,000
- Status
- SOLD
- MLS#
- 2214734
- Closing Date
- Jul 17, 2024
- Days on Market
- 44
- Style
- 54 - 4-Plex
- Finished SqFt
- 3,170
- Area Total SqFt
- 3170
- Annual Tax Ammount
- 11450
- Lot Size (sq ft)
- 9,600
- Sewer
- Sewer Connected
Property Description
This property features a unit mix of three 2-bedroom, 1-bathroom units each 850 square feet, and one 620-square-foot 1-bedroom, 1-bathroom unit. With three units having recently undergone some updates and the fourth well-maintained by a long-term tenant, the property is in move-in ready condition. The current rents are approximately 15-25% below market rents, presenting an attractive value-add potential through operational improvements, including implementing a utility billback system. Property is apart of an HOA with the surrounding properties of similar size.
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Additional Information
- List Date
- 2024-06-03 00:00:00
- Community
- Kenmore
- Net Operating Income
- $49,974
- Gross Adjusted Income
- $73,157
- Gross Scheduled Income
- $75,420
- Total Monthly Income
- $6,285
- Insurance Expenses
- $2,555
- Water/Sewer/Garbage Expenses
- $6,663
- Gross Rent Multiplier
- 16.2
- Total Expenses
- $23,183
- Cap Rate
- 4.1
- Vacancy Rate
- 3
- Total Number of Units
- 4
- Unit Name
- 6103 -6107
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1971
- Roof
- Built-Up
- Other Expenses
- 2515
- Energy Source
- Electric
- School District
- Northshore
- Total Monthly Income
- $6,285
- Gross Scheduled Income
- $75,420
- Vacancy Rate
- 3
- Gross Adjusted Income
- $73,157
- Tax Year
- 2024
- Insurance Expense
- $2,555
- W/S/G Expenses
- $6,663
- Total Expenses
- $23,183
- Net Operating Income
- $49,974
- Gross Rent Multiplier
- 16.2
- Cap Rate
- 4.1
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.