518 2nd St, Kirkland, WA 98033

$3,400,000

Listing courtesy of Keller Williams Rlty Bellevue.

List Price
$3,400,000
Status
ACTIVE
MLS#
1302856
Days on Market
50
Style
56 - 10+ Units
Lot Size (sq ft)
10,200

Property Description

The Residences at 518, is a turn-key, 10-unit apartment investment in the heart of Kirkland! This investment opportunity is located in the high-end neighborhood on the shores of Lake Washington. The walkability is excellent and major employers within a mile of the site include Google, Tableau, and Wave Broadband. The Residences at 518 are an apartment investors' dream, with rental upside, stable tenants, easy management, and a highly desirable location.

Additional Information

List Date
2018-05-31 00:00:00
Community
East Of Market
Property Type
MULT
Units
10
Stories
2
Potential Terms
Cash Out
Year Built
1901
Total Parking
12
Uncovered Parking
12
Exterior
Cement Planked
Roof
Torch Down
Site Features
['Fenced-Fully']
Lot Details
Paved Street, Sidewalk
School District
Lake Washington
Total Monthly Income
$1
Gross Scheduled Income
$173,000
Vacancy Rate
2
Gross Adjusted Income
$173,000
Annual Taxes
$24,303
Tax Year
2018
Insurance Expense
$6,000
W/S/G Expenses
$8,600
Total Expenses
$43,000
Net Operating Income
$124,000
Gross Rent Multiplier
19
Cap Rate
3

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

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