Sold
Last Sold Price
15,540 sqft

234 Williams Ave N, Renton, WA 98057

Multi FamilyProperty Type
1.61 acresLot Size
1920Year Built
$245/sq ftPrice per sq ft
17 carsParking Spaces

Description

Very Unique Opportunity! 16 units comprising of 7 SFR's, 3 Duplexes and a Triplex. Sale includes 10 tax parcels covering a flat 1.6 acres in desirable Downtown Renton. This is an AMAZING investment and the potential is huge. Most units currently rented; 2019 actual cap rate was 4.8% including vacancies and below market rent, Proforma cap just about 6%. Finish square footage and turn 16 units into 19 units, or fix-up and flip! Up-zoning likely in 2028. One of a kind property, come see it today!Very Unique Opportunity! 16 units comprising of 7 SFR's, 3 Duplexes and a Triplex. Sale includes 10 tax parcels covering a flat 1.6 acres in desirable Downtown Renton. This is an AMAZING investment and the potential is huge. Most units currently rented; 2019 actual cap rate was 4.8% including vacancies and below market rent, Proforma cap just about 6%. Finish square footage and turn 16 units into 19 units, or fix-up and flip! Up-zoning likely in 2028. One of a kind property, come see it today!
  • Listed by: Amanda Mannila 253.852.9200 amandam@johnlscott.com • John L. Scott, Inc
Listing closed: 11/24/2020 12:00 AM • Source: NWMLS as distributed by MLS GRID, MLS#: 1618793
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Location

Listing Courtesy of John L. Scott, Inc

Sold By Keller Williams Eastside

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30 year fixed, 7.03% Interest

Principal and Interest

$20,286

Property Taxes

$3,423

HOA Dues

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Property Information for 234 Williams Avenue North

Property Details

  • Taxes: $41,076 / year
  • MLS Type: Residential Income
  • County: King County
  • Community Name: Downtown
  • School District: Renton
  • Number of Assigned Spaces: 17
  • Total Covered Parking: 2
  • Entry Date: 08-20-2020
  • Sewer: Sewer Connected

Building Information

  • Stories: 2
  • Residences: 16
  • Year Built: 1920
  • Lot Size: 1.61 AC / 70,242 SF

Summary

Location and General Information
  • Style: 56 - 10+ Units
  • Site Features: Fenced-Partially, Gas Available, Outbuildings, RV Parking
  • Area: 350 - Renton/Highlands
  • Directions: From 405 take Rainier exit, head North. Go right on Airport way, go left on Logan, right on 3rd St. Right on Williams. Block is on left. From Landing, head S on Park, Right on 4th, left on Williams.
  • Leased Items: Water Tank
  • Property Sub Type: MULT
  • View: No
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2019
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Parking Type: RV Parking
  • Open Parking Spaces: 15.0
  • Open Parking: Yes
  • Parking Features: RV Parking

Interior and Exterior Features

Interior Features
  • Furnished: Unfurnished
  • Floor Covering: See Remarks, Vinyl, Carpet
  • Features: Heat Pump, Wall to Wall Carpet
  • Cooling: Yes
  • Fireplace: No
  • Heating: Yes
Exterior Features
  • Exterior: Brick, See Remarks, Stucco, Wood
  • Roof: Composition
  • Security Features: FullyFenced

Property

Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 10416
  • Power Production Type: Electric, Natural Gas, Oil
  • Utilities: Natural Gas Available, Sewer Connected, Electric, Natural Gas Connected, Oil
Property and Assessments
  • New Construction YN: No
  • Foundation: Post & Pillar, Poured Concrete, See Remarks
  • First Right Of Refusal: false
  • Preliminary Title Ordered: Yes
  • Special Listing Conditions: None
  • Photos Count: 12
Lot Information
  • Lot Details: Alley, Corner Lot, Paved, Sidewalk
  • Lot Size Source: Realist
  • Parcel Number Free Text: 7226500060
  • Calculated Square Footage: 15540
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 15540.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No

Multi Family

Building Details
  • Number of Uncovered Spaces: 15
  • Number of Stories in Building: 2
  • Vacancy Rate: 12
  • Number Of Units Total: 16
  • Units Below Grade: true
  • Units In Building Total: 16
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 65762
  • Gross Adjusted Income: 301192
  • Gross Rent Multiplier: 13
  • Gross Scheduled Income: $339,444
  • Insurance Expense: $8,508
  • Net Operating Income: $276,268
  • Other Expenses: $5,762
  • Total Monthly Income: 27037
  • Fuel Expense: $0

Rental

Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 15540.0
  • Leasable Area Units: Square Feet

Property History for 234 Williams Avenue North

DateEvent & SourcePriceAppreciation
Nov 24, 2020

Sold

NWMLS #1618793

$3,800,000—
Oct 6, 2020

Pending

NWMLS #1618793

—
Aug 20, 2020

Listed (Active)

NWMLS #1618793

$4,750,000—
DateEvent & SourcePrice
11/24/2020

Sold

NWMLS #1618793

$3,800,000
10/06/2020

Pending

NWMLS #1618793

—
08/20/2020

Listed (Active)

NWMLS #1618793

$4,750,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public records

234 Williams Avenue North

Baths

3.5

Total Finished SqFt

1,220 SqFt

Above Ground SqFt

1,220 SqFt

Stories

1

Lot Size

5,802 SqFt

Style

Duplex

Schools near 234 Williams Avenue North

This home is within Renton School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Highlands Elementary School
PublicK to 5

Vera Risdon Middle School
Public6 to 8

Renton Senior High School
Public9 to 12

Sartori Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of John L. Scott, Inc

Based on information submitted to the MLS GRID as of 09/05/2024 05:40 AM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.