3043 Island Crest Wy Unit 1-5, Mercer Island, WA 98040

$2,150,000
5,952
SqFt

Listing courtesy of Kidder Mathews. Selling Office: .

Sold Price
$2,150,000
List Price
$2,000,000
Status
SOLD
MLS#
1287216
Closing Date
Jul 18, 2018
Days on Market
15
Style
55 - 5-9 Units
Finished SqFt
5,952
Lot Size (sq ft)
9,000

Property Description

Well located in a walkable neighborhood blocks from the vibrant Mercer Island Town Center district, approx a 1/4 mile from I-90, & roughly halfway between Seattle & Bellevue. Immediate upside potential: Raise rents & implement RUBS. Possible to add 6th unit in ground-level laundry/storage area (buyer to verify). Excellent schools, safe community. Spacious, all-corner units. Long-term tenants, mostly MTM. 0.6 miles from park & ride and future Light Rail (opening 2023). Owner-occupant opportunity.

Additional Information

List Date
2018-05-07 00:00:00
Community
Mercer Island
Property Type
MULT
Units
5
Stories
3
Potential Terms
Cash Out, Conventional
Year Built
1960
Total Parking
12
Uncovered Parking
12
View
Territorial
Exterior
Brick, Wood, Wood Products
Roof
Composition
Site Features
['Deck', 'Fenced-Partially', 'Patio']
Lot Details
Alley, Curbs, Paved Street, Sidewalk
School District
Mercer Island
Total Monthly Income
$7,350
Gross Scheduled Income
$88,200
Vacancy Rate
3
Gross Adjusted Income
$85,554
Annual Taxes
$10,989
Tax Year
2018
Insurance Expense
$2,564
W/S/G Expenses
$7,488
Total Expenses
$28,441
Net Operating Income
$57,113
Gross Rent Multiplier
23
Cap Rate
2

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
1000
Unit 1 Rent
$1,750
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
1000
Unit 2 Rent
$1,325
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
1000
Unit 3 Rent
$1,500
Unit 4 Beds
2
Unit 4 Baths
1.00
Unit 4 Size
1000
Unit 4 Rent
$1,325
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
900
Unit 5 Rent
$1,350

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

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