19415 28th Ave NE Lake Forest Park, WA 98155

Pending (3 Days)

$1,400,000

3,640

SQFT

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Description

Value add opportunity in Lake Forest Park, WA. Nestled on a quiet dead-end street between I5 and lake Washington, The large wooded lot offers tenants ample space to enjoy the outdoors. Built 1979 this 4-plex not only offers secured building access excellent but also ample potential for significant upside in raising rents, landscape improvements and unit upgrades. Featuring four generous 2-bed, 1-bath units, each 910 sq ft, complete with fireplaces. Recent upgrades include a new roof and windows in 2022 with a transferable warranty. Shared coin op laundry on site for additional income. Close to all amenities, The low cap rate is a reflection of the rents being way below market .

MLS #:
2211292

Taxes
$9,983(2024)

Lot Size
10,138 SQFT

Type
Multifamily

Year Built
1979

Style
4-Plex

School District
Shoreline

County
King County

Community
Ballinger

Listed By

Corey Crain, Keller Williams Realty Bothell

Source
Northwest MLS as distributed by MLS Grid
Last checked May 6 2024 at 12:07 PM GMT+0000

Bathroom Details

Interior Features

Wall to Wall Carpet

Subdivision

Ballinger

Lot Information

Dead End Street

Flooring

Carpet

Exterior Features

Wood
Roof: Composition

Utility Information

Sewer: Sewer Connected
Fuel: Electric

Additional Listing Info

Buyer Brokerage Commission: 2.5

Location

Map View | Street View

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Estimated Monthly Mortgage Payment

*Based on Fixed Interest Rate withe a 30 year term, principal and interest only

Listing price

Down payment

Interest rate

Mortgage calculator estimates are provided by Windermere Real Estate and are intended for information use only. Your payments may be higher or lower and all loans are subject to credit approval.

Disclaimer: Based on information submitted to the MLS GRID as of 2024 5/6/24 05:07. 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.