8836 SW 9th Avenue, Seattle WA, 98106
(Active)
$1,150,000
|
2,696 sqft
|
MLS# 2145946
Last Updated: 5/17/2024 1:42 AM
Description for
8836 SW 9th Avenue
Seattle, WA 98106
A value-add opportunity to acquire a partially renovated 4plex in the West Seattle neighborhood, Highland Park. The subject consists of two one bed and two two-bedroom apartments. The one beds were fully renovated in 2023 and achieved a 42% rent increase. The same upside is available for the two beds, a $60K renovation budget will produce a $703 increase in rent per unit, delivering a 28% return on investment in the first year. This is an excellent opportunity for an astute investor to create value in an asset that's poised for growth in the future. The subject is in the path of progress as two new townhome developments were built and sold in the last few years. This street is attracting capital and a new investor can catch this wave.
Price
$1,150,000
Highland Park
King
2,696 (approx)
2145946
Active
Description
A value-add opportunity to acquire a partially renovated 4plex in the West Seattle neighborhood, Highland Park. The subject consists of two one bed and two two-bedroom apartments. The one beds were fully renovated in 2023 and achieved a 42% rent increase. The same upside is available for the two beds, a $60K renovation budget will produce a $703 increase in rent per unit, delivering a 28% return on investment in the first year. This is an excellent opportunity for an astute investor to create value in an asset that's poised for growth in the future. The subject is in the path of progress as two new townhome developments were built and sold in the last few years. This street is attracting capital and a new investor can catch this wave.
Listing Information
| Property Type: Fourplex, Multi-Family, 2 Story | ||
| 0.11 Acres | 2,696 (approx) | 1980 |
| 2 | Stucco | |
Highland Park
Neighborhood
School Information
| District: Seattle | ||
| Highland Park | Sealth High | |
Room Information
Interior Features
None
Electric Heating,
Baseboard
Exterior / Lot Features
5 Parking Spaces,
Stucco
Deck, Patio
Driving Directions
The property is on the fourth parcel on 9th Ave, just east of Westcrest Park.
Financial Considerations
| 7750500010 |
| $8,231 |
Conventional
Listing Price History
Seattle Real Estate
Seattle is located in Washington. Seattle, Washington 98106 has a population of 758,862.
The median household income in Seattle, Washington 98106 is $75,878. The median household income for the surrounding county is $102,088 compared to the national median of $66,222. The median age of people living in Seattle 98106 is 41 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 3/18/2024 | Active | $1,150,000 USD |
|
| 3/7/2024 | Pending | $1,150,000 USD |
|
| 8/1/2023 | Active | $1,150,000 USD |
|