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(206) 595-7188
Real Estate Company
3911 Woodland Park Avenue N, Seattle, WA 98103
- $1,525,000
- 5,170
- SqFt
Listing Broker: Paragon Real Estate Advisors; Will Douglas; 206-812-9108; Will@ParagonREA.com
- List Price
- $1,525,000
- Status
- ACTIVE
- MLS#
- 2596394
- Style
- 55 - 5-9 Units
- Finished SqFt
- 5,170
- Area Total SqFt
- 5170
- Annual Tax Ammount
- 17601
- Lot Size (sq ft)
- 4,800
- Sewer
- Available
Property Description
The Woodland Park Ave Apartment is on the market for the first time in over 28 years! This charming five-unit apartment building is tucked between two of Seattle’s most vibrant and sought-after neighborhoods, Fremont and Wallingford, making for a great investment for an opportunist who is bullish on Seattle. Originally built in 1918, with a connected triplex addition added in 1986, Woodland Park Ave Apartments offers a well-balanced mix of five units: 1 - one-bedroom, one-bathroom unit, 3 - two-bedroom, one-bathroom units, and 1 - spacious three-bedroom, one-and-a-half-bathroom unit, totaling approximately 5,170 net rentable square feet. Each unit comes with its own washer/dryer, water heater, full kitchen appliance package and electric wall heat. The building is equipped with vinyl frame dual-pane windows and all electrical systems throughout the property are up-to-code and in good working condition. The triplex addition is fully sprinklered and has copper plumbing while the main house is a mix of plumbing. In-place rents are currently more than 40% below market, providing an incoming owner with immediate, low-lift upside by bringing units to market rents as they naturally turn over. Additional value can be created through interior renovations. There is also untapped income potential through parking and utility bill-backs that have yet to be implemented.
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Additional Information
- Community
- Fremont
- Net Operating Income
- $47,951
- Gross Adjusted Income
- $94,982
- Gross Scheduled Income
- $97,920
- Total Monthly Income
- $8,160
- Insurance Expenses
- $4,990
- Water/Sewer/Garbage Expenses
- $11,327
- Gross Rent Multiplier
- 15.57
- Total Expenses
- $47,031
- Cap Rate
- 3.14
- Vacancy Rate
- 3
- Total Number of Units
- 5
- Unit Name
- 3911
- Potential Terms
- Cash, Conventional
- Year Built
- 1918
- Roof
- Composition
- Other Expenses
- 13113
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $8,160
- Gross Scheduled Income
- $97,920
- Vacancy Rate
- 3
- Gross Adjusted Income
- $94,982
- Tax Year
- 2026
- Insurance Expense
- $4,990
- W/S/G Expenses
- $11,327
- Total Expenses
- $47,031
- Net Operating Income
- $47,951
- Gross Rent Multiplier
- 15.57
- Cap Rate
- 3.14
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.