172 16th Ave - Multi-Family FOR SALE


Seattle, WA 98122- Minor
$1,600,000 USD
206-999-9161
172 16th Ave, Seattle, WA for Sale
$1,600,000 USD
Multi-Family - FOR SALE
1/28
null | 5.71% Cap Rate

172 16th Ave
Seattle, WA 98122
Minor


HIGHLIGHTS

  • Excellent owner / investor opportunity on a quiet residential street in the Central District
  • All units feature updated systems, kitchens, bathrooms, in-unit washer/dryer, and dedicated outdoor space
  • The property consists of a well-maintained triplex with a non-conforming 4th unit plus a detached additional dwelling unit (DADU) built 2017
  • Property has 5 income generating units but qualifies for Residential Financing allowing for as little as 5% down for an owner-occupant
  • The 4-plex has one 2 bd/1 bth & three 1 bd/1 bth units -- all with different floor plans and some with views of the Seattle skyline
  • Perfect for an owner-occupant looking to off-set their mortgage payment or for an investor seeking stable cash flow in a high-demand rental location

OVERVIEW

Exceptional owner / investor opportunity on a quiet, residential corner in the Central District. This 3,300 SF lot has a well-maintained & charming triplex with a non-conforming 4th unit, plus a 1 bd/1bth detached additional dwelling unit (DADU) built in 2017. Although there are 5 income generating units, this property qualifies for residential financing, opening the door to more attractive lending options. The fourplex has one 2 bd/1 bth and three 1 bd/1 bth units, each with updated systems, kitchens, and baths. Each floor plan is unique with lots of light, in-unit washer / dryer, dedicated outdoor space, and some featuring views of the Seattle skyline. The 1bd/1 bth DADU features an open floor plan with a modern design and a loft area for additional living space. Long-term development potential with the corner lot and LR2 zoning. Excellent opportunity for an investor seeking stable cash flow in a high-demand location or an owner-occupant looking to offset their mortgage payment with rental income.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$544 USD /SF

# OF UNITS

5

PRICE/UNIT

$320,000

CAP RATE

5.71%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Central District 4-Plex + DADU

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,300 SF

ZONING

LR2

APN/PARCEL ID

303720-0075

ASK ABOUT THIS PROPERTY

Lauren HendricksWindermere CommercialMore Info
206-999-9161

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Lauren HendricksWindermere CommercialMore Info
206-999-9161

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.