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Listing 16 out of 62
$2,235,000 Pending

22415 30th Ave S
Des Moines, WA 98198

12 units | Multi Family Home
16501 sq ft lot - MLS# 1334850 Courtesy of The Foundation Group LLC
Property Photo
1/13

Description

The Villette Apartments is the best turnkey deal on the market at a steady 5.8% cap rate. Two units just resigned leases with a rent increase. Property is 100% occupied and last appraisal came in significantly higher than list price. Completely renovated 12-unit building - includes new flooring, cabinetry, carpet, windows, roof, laundry room, all new appliances, electrical panels, and parking lot.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • County/Area: King County
  • Zip Code: 98198
  • Year Built: 1961
  • School District: Highline
  • Sq.Ft.: 8,100 sq ft
  • Units: 12 units
  • # of Parking Spaces: 12
  • Lot Size: 16501 sq ft lot
  • Area: Des Moines
  • Amenities: Coin Op Laundry
  • Area Number: 120
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 1.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Bedrooms Unit 1: 2
  • Bedrooms Unit 2: 1
  • Bedrooms Unit 3: 2
  • Bedrooms Unit 4: 2
  • Bedrooms Unit 5: 2
  • Bedrooms Unit 6: 1
  • Building Condition: Remodeled
  • Cap Rate - NOI div LP: 5.79
  • Energy Source(heat): Electric
  • Exterior: Brick
  • Floor Covering: Laminate Hardwood
  • Foundation: Concrete Block
  • General Zoning Class: Multi-Family
  • Gross Adjusted Income: $188161
  • Gross Rent Multiplier: $12
  • Gross Scheduled Income: $193980
  • Heating/Cooling: Baseboard
  • Insurance Expenses: $4800
  • Net Operating Income: $129408
  • Number of Stories in Building: 3
  • Number of Uncovered Spaces: 12
  • Power Company: Puget Sound Energy
  • Rent Unit 1: $1325
  • Rent Unit 2: $1045
  • Rent Unit 3: $1345
  • Rent Unit 4: $1345
  • Rent Unit 5: $1345
  • Rent Unit 6: $1045
  • Roof: Flat
  • Sewer Company: Midway Sewer
  • Site Features: Cable TV, Fenced-Partially, Patio
  • Square Feet Unit 1: 720
  • Square Feet Unit 2: 504
  • Square Feet Unit 3: 720
  • Square Feet Unit 4: 720
  • Square Feet Unit 5: 720
  • Square Feet Unit 6: 504
  • Total Expenses: $58753, $58753
  • Total Monthly Income: $16190
  • Units Below Grade: Yes
  • Vacancy Rate: 3
  • Water Company: Highline Water District
  • Water Source: Public
  • Water/Sewer/Garbage: 13800
Courtesy of The Foundation Group LLC
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website is provided courtesy of NorthWest MLS. Real estate listings held by brokerage firms other than Newberry Realty, Inc. are marked with the three trees logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-06-17

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