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4541 NE 55th Street

Seattle, WA 98105
  • $2,480,000
  • STATUS: Pending
  • ON SITE: 99 Days
  • ID#: 1807791
Under Contract
UPDATED: 64 min ago
$2,480,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,598
    SQFT
  • $376
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1956
County:

School Information

Elementary School:
Middle School:
High School:
School District:
Listing Courtesy of Lee & Associates Commercial Re.

Description

Steps from Burke-Gilman trail, the Cedrus is nestled in the residential neighborhood of Hawthorne Hills in NE Seattle. This spacious 8-unit garden-style consists of two 1B/1B, five 2B/1B & one 3B/1B owner's unit. The Cedrus is well-connected to U-Village and UW. Seattle Childrens Hospital, Metropolitan Market & City People are within a short walk. This walkability to amenities attracts a high-quality, stable tenant base and has lent to virtually no vacancy over the course of current ownership. These spacious well-located units currently rent at below market rates provide investors with a true value add opportunity, recapturing loss to lease in the near term with additional rental upside realized upon renovation & reposition.

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The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Alchemy Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-10-22T07:16:01.67.

www.alchemyre.com/homes/119308268
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4541 NE 55th Street Seattle, WA 98105

  • Price: $2,480,000
  • Status: Pending
  • Updated: 64 min ago
  • ID#: 1807791
0
Beds
0
Baths
0
½ Baths
0.17
Acres
6,598
SQFT
$376
$/SQFT
1956
Built
Neighborhood:
Hawthorne Hills
County:
King
Area:
N.Seattle/UW/Wedgewood/V.Ridge/Lk Cty
Elementary School:
Sand Point Elem
Middle School:
Eckstein Mid
High School:
Roosevelt High
School District:
Seattle
Property Description
Steps from Burke-Gilman trail, the Cedrus is nestled in the residential neighborhood of Hawthorne Hills in NE Seattle. This spacious 8-unit garden-style consists of two 1B/1B, five 2B/1B & one 3B/1B owner's unit. The Cedrus is well-connected to U-Village and UW. Seattle Childrens Hospital, Metropolitan Market & City People are within a short walk. This walkability to amenities attracts a high-quality, stable tenant base and has lent to virtually no vacancy over the course of current ownership. These spacious well-located units currently rent at below market rates provide investors with a true value add opportunity, recapturing loss to lease in the near term with additional rental upside realized upon renovation & reposition.
Exterior Features

Carport Spaces 0 Carport YN No Covered Spaces 0 Exterior Features BrickWood Lot Features CurbsPavedSidewalk Open Parking Spaces 5 Open Parking YN Yes Parking Total 5 Parking Uncovered Spaces 5 Roof Flat Structure Type Multi Family Style Code 55 - 5-9 Units View Territorial View YN Yes Waterfront YN No

Interior Features

Building Area Total 6598 Fireplace YN No Flooring HardwoodVinylCarpet Furnished Unfurnished Heating Cooling Type Baseboard Heating YN Yes Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

Property Features

Amenities Coin Op Laundry Electric On Property YN No Energy Source Electric Foundation Details Poured Concrete Irrigation Water Rights YN No Listing Terms Cash OutConventional Net Operating Income 117402 New Construction YN No Possession Closing Possible Use Multi-Family Power Production Type Electric Property Condition Good Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Special Listing Conditions None Tax Annual Amount 24894 Tax Year 2021 Units In Building Total 8 Utilities Sewer ConnectedElectricity Available Water Source Public Zoning Class Multi-Family Zoning Jurisdiction City

Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Alchemy Real Estate and should be verified by the buyer.


The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Alchemy Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-10-22T07:16:01.67.

 
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Alchemy Real Estate
2921 Eastlake Ave E
Seattle WA, 98102
Listing Courtesy of Lee & Associates Commercial Re.