Listed by Paragon Real Estate Advisors
$8,325,000
Magnolia Portfolio
Details
APN 277110-4305, 277110-4290, 277110-4280, 277110-4250, 277160-0270
Property Type Land, Multifamily
Sub Type Apartment Building
Square Footage 25,724
Net Rentable (SqFt) 25,724
Units 43
Cap Rate 5.40%
Price per SqFt $360
Year Built 1967
Buildings 5
Stories 4
Lot Size (SqFt) 48,462
Zoning LR3 M
Parking Spaces 20 spaces
Parking Per SqFt 0.78
Investment Type Value Add
Land | 48,462 SqFt
Marketing description
Opportunities are Abundant! The Magnolia Portfolio offers a new investor the ability to acquire a 5 building assemblage suitable for a value add opportunity located in a core Seattle area. The current arrangement offers 41 residential units plus 2 commercial spaces and a single family house. All together the assemblage represents 48,462 square feet of LR3 (M) zoned dirt. The property is suitable for immediate development as multiple asset types depending on need allowing a new owner to operate the assets "as is" while navigating the permit process to maintain cash flow. All figures noted are proforma. Actual rents are well below market value.
Listing Contacts
Listed by Paragon Real Estate Advisors
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