2216 NE 46th Street, Seattle, WA 98105

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Listing Broker: Windermere Real Estate Midtown; Lauren Hendricks; 206-999-9161; laurenhendricks@windermere.com

List Price
$7,754,000
Status
ACTIVE
MLS#
2600283
Style
56 - 10+ Units
Building Condition
Fair
Finished SqFt
12,836
Area Total SqFt
12836
Annual Tax Ammount
81917
Lot Size (sq ft)
49,991
Sewer
Sewer Connected

Property Description

Four parcels with 14 income producing units plus parking income on 49,991 SF of LR zoned land for sale for the first time in generations. All four properties have incredible peaceful park-like settings even though they are just a stones throw away from the University of Washington, UWMC Hospital, Burke-Gilman Trail & U-Village Shopping Center. 2216 NE 46th St consists of a 6-unit apartment building and a duplex for a total of 8-units on a 10,300 SF lot zoned LR3. 2226 NE 46th St is a 2,600 SF triplex on a 7,150 SF lot zoned LR3. 2230 NE 46th St (aka 4517 Ravenna Ave NE) is a 2,740 SF 3 bd/1.75 bath single-family home on a 14,338 SF lot zoned LR1. 4511 Ravenna Ave NE is an architecturally unique 1,025 SF duplex on a 18,203 SF lot zoned LR1. The properties provide steady income, but they are also prime for redevelopment with a strong demand for townhouses and cottage housing. The four parcels can be sold separately or together for the tax assessed values. Occupied by long-term residents. Please do not disturb the tenants.

Additional Information

Community
Ravenna
Net Operating Income
$70,131
Gross Adjusted Income
$220,025
Gross Scheduled Income
$226,830
Total Monthly Income
$18,903
Insurance Expenses
$10,988
Water/Sewer/Garbage Expenses
$38,975
Gross Rent Multiplier
34
Total Expenses
$149,894
Cap Rate
1
Vacancy Rate
3
Total Number of Units
14
Unit Name
2216
Potential Terms
Cash, Conventional
Year Built
1926
Roof
Built-Up
Site Features
Cable TV, Fenced-Partially, Gas Available, High Speed Internet
Other Expenses
18014
Energy Source
Electric, Natural Gas
School District
Seattle
Elementary School
Laurelhurst
Middle School
Eckstein Mid
High School
Roosevelt High
Total Monthly Income
$18,903
Gross Scheduled Income
$226,830
Vacancy Rate
3
Gross Adjusted Income
$220,025
Tax Year
2026
Insurance Expense
$10,988
W/S/G Expenses
$38,975
Total Expenses
$149,894
Net Operating Income
$70,131
Gross Rent Multiplier
34
Cap Rate
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.

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