Bought with Kidder Mathews
$8,140,000
$8,900,000
8.5%For more information regarding the value of a property, please contact us for a free consultation.
20,587 SqFt
SOLD DATE : 08/22/2024
Key Details
Sold Price $8,140,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 20,587 sqft
Price per Sqft $395
Subdivision University District
MLS Listing ID 2236772
Sold Date 08/22/24
Style 56 - 10+ Units
Year Built 1985
Annual Tax Amount $77,262
Lot Size 0.299 Acres
Lot Dimensions 13025
Property Description
Maplewood offers a 24-unit value-add apartment building located in the highly sought-after University District of Seattle.Offered for sale at $8.9 million, this property is on the market for the first time and presents a unique chance to acquire a legacy asset that has been meticulously maintained by the same family since 1985.Maplewood features large units in exceptional condition, providing ample potential for value-add renovations.After light renovations, rental rates can increase by 20% or more, making this property an attractive prospect for savvy investors. Located steps away from the prestigious University of Washington-ranked #2 in the U.S.Maplewood is just minutes away from an abundance amenities, and a regional light rail station.
Location
State WA
County King
Area 710 - North Seattle
Interior
Interior Features Laminate Tile, Wall to Wall Carpet
Flooring Laminate, Carpet
Fireplace false
Exterior
Exterior Feature Brick, Stucco
Amenities Available Gated Entry
View Y/N No
Roof Type Flat
Building
Lot Description Curbs, Sidewalk
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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