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937-371-5777
eXp Realty
2801 14th Avenue W, Seattle, WA 98119
- $2,695,000
- 6,272
- SqFt
Listing Broker: Paragon Real Estate Advisors; Will Douglas; 206-812-9108; Will@ParagonREA.com
- List Price
- $2,695,000
- Status
- ACTIVE
- MLS#
- 2584084
- Style
- 55 - 5-9 Units
- Finished SqFt
- 6,272
- Area Total SqFt
- 6272
- Annual Tax Ammount
- 22758
- Lot Size (sq ft)
- 9,000
- Sewer
- Available
Property Description
The Deauville Apartments is an 8-unit apartment community above the Interbay corridor in North Queen Anne. Built in 1961 and fully renovated since 2019, with $325k invested, the property offers a turn-key investment with strong in-place revenue and streamlined operations in one of Seattle’s most desirable rental markets. The 8 two-bedroom homes average 784 square feet and each offer view windows, dishwashers, in-unit washers and dryers, modern updates, off-street parking, and access to storage. Unique features contributing to strong tenant demand include new hardwood floors in most units, lush gardens, outdoor spaces, and territorial views. Convenient access to major employers and transit is a draw for tenants employed in Downtown Seattle, Fremont, University of Washington, South Lake Union, and First Hill. Nearby Ballard, Fremont, and Interbay also offer extensive shopping and amenities for tenants. Recent systems updates have included new electrical panels in four units (all are up-to-date), plumbing updates, new hot water heaters and new appliances throughout, roof and storm drainage upgrades, and a full exterior refresh (repairs, paint, fixtures). There is future redevelopment on this 9,000 square foot LR3(M)-zoned lot and there is the ability to add a 9th unit in the common laundry room/storage area.
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Additional Information
- Community
- Interbay
- Net Operating Income
- $173,101
- Gross Adjusted Income
- $248,339
- Gross Scheduled Income
- $256,020
- Total Monthly Income
- $21,335
- Insurance Expenses
- $4,558
- Water/Sewer/Garbage Expenses
- $15,852
- Gross Rent Multiplier
- 10.53
- Total Expenses
- $75,239
- Cap Rate
- 6.42
- Vacancy Rate
- 3
- Total Number of Units
- 8
- Unit Name
- 2801
- Potential Terms
- Cash, Conventional
- Year Built
- 1961
- Roof
- Flat
- Other Expenses
- 32071
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $21,335
- Gross Scheduled Income
- $256,020
- Vacancy Rate
- 3
- Gross Adjusted Income
- $248,339
- Tax Year
- 2026
- Insurance Expense
- $4,558
- W/S/G Expenses
- $15,852
- Total Expenses
- $75,239
- Net Operating Income
- $173,101
- Gross Rent Multiplier
- 10.53
- Cap Rate
- 6.42
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.
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