200 Rainier Blvd N - Multi-Family FOR SALE


Issaquah, WA 98027- Olde Town
$875,000 USD
206-812-9123
200 Rainier Blvd N, Issaquah, WA for Sale
$875,000 USD
Multi-Family - FOR SALE
1/15
null | 4.25% Cap Rate

200 Rainier Blvd N
Issaquah, WA 98027
Olde Town


HIGHLIGHTS

  • Opportunity to raise rent $850/month on unit 210 by renovating as proven on unit 200
  • Property has ample off-street parking and each unit has a private patio
  • Double pane vinyl windows
  • Single story, low maintenance property
  • New roof in 2018 – Full tear off with new plywood underlay and composition roof
  • Just steps away from the historic downtown area, residents can explore the charming streets lined with unique shops, restaurants, and cultural attract

OVERVIEW

Available for the first time in over three decades, this charming duplex features two spacious 2-bedroom,1-bathroom units, making it the perfect start or addition to your real estate portfolio. Nestled in the highly sought-after Old Town Issaquah, this duplex is situated in a vibrant community known for its historic charm, excellent schools, and convenient amenities. One of the units has been fully remodeled including new cabinets, quartz countertops, LVP flooring, stainless steel appliances, new lights and interior paint. The remodeled unit is rented for $2,550 while the other unit is only rented for $1,700 presenting a buyer with a great opportunity to renovate the unit and capture a market rent. Whether you're an experienced investor or a first-time landlord, this property offers an excellent opportunity to maximize your returns. Both units boast well-appointed 2 bedrooms and 1-bathroom layouts with a private patio providing comfortable living spaces for tenants while offering the potential for future improvements or customization. The owner put on a new roof with new plywood underlay in 2018 and has overall meticulously cared for the property throughout the seller's 36-year ownership period.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$583 USD /SF

# OF UNITS

2

PRICE/UNIT

$437,500

CAP RATE

4.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Issaquah Duplex

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

CBD

APN/PARCEL ID

272406-9165

ASK ABOUT THIS PROPERTY

Michael UrquhartParagon Real Estate AdvisorsMore Info
206-812-9123

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Michael UrquhartParagon Real Estate AdvisorsMore Info
206-812-9123

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