4511 SW Lander Street, Seattle, WA 98116 (MLS # 2133436)
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Listing provided courtesy of Northwest MLS; Blake Investment Advisors
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An opportunity for an investor to acquire an existing triplex zoned NR3, offering the ability to build a 1,000-square-foot DADU on the west side of the lot, increasing the stabilized cap rate to 9.28%. Current operations at the North Admiral Triplex produce an average monthly rent of $1,617 per unit. This submarket can support a higher rent of $2,550 per unit. A new buyer can realize this upside on the Triplex by fully renovating each unit and installing washers and dryers in the apartments, with a proposed cost of $150,000. The proposed ADU (buyer to verify feasibility) can achieve a rent of $3,600 and the proposed cost to construct is $350,000. Upon completion of the DADU, the new income stream equates to a 9.28% Capitalization Rate.
| DAYS ON MARKET | 352 | LAST UPDATED | 4/12/2024 |
|---|---|---|---|
| TRACT | North Admiral | YEAR BUILT | 1910 |
| COMMUNITY | North Admiral | COUNTY | King |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| School District | Seattle |
|---|---|
| Elementary School | Lafayette |
| Jr. High School | Madison Mid |
| High School | West Seattle High |
| ADDITIONAL DETAILS | |
| AREA | 140 - West Seattle |
|---|---|
| BUYER'S BROKERAGE COMPENSATION | 2.5 |
| CONSTRUCTION | Wood Siding |
| HEAT | Electric, Forced Air, Natural Gas |
| LOT | 5401 sq ft |
| STORIES | 2 |
| STYLE | 53 - Tri-plex |
| SUBDIVISION | North Admiral |
| TAXES | 7584 |
| UTILITIES | Sewer Connected |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 5/8/24 1:51 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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