1419 East Olive Street
1419 East Olive Street
Seattle, WA 98122
$1,260,000
Last Sold Price
6
Beds
3.75
Baths
2,750 Sq. Ft.
$458 / Sq. Ft.
2,750
Sq. Ft.
$458
per Sq. Ft.
Sold 12/30/22
Sold 12/30/22
Listing provided courtesy of Paragon Real Estate Advisors, Windermere Real Estate/East
Description
This triplex offers a unique mix of units - one 1BD/1BTH unit, one 2BD/1BTH unit, and one 3BD/1.75BTH townhouse-style unit. The building sits back off the street, behind a charming courtyard, giving occupants a great spot to enjoy summer days. The units are currently renting well below market presenting significant rental upside. The property will operate at a 4.8% CAP rate when rents are brought up to market. The condition of the units also gives a buyer the opportunity to update the units and capture...This triplex offers a unique mix of units - one 1BD/1BTH unit, one 2BD/1BTH unit, and one 3BD/1.75BTH townhouse-style unit. The building sits back off the street, behind a charming courtyard, giving occupants a great spot to enjoy summer days. The units are currently renting well below market presenting significant rental upside. The property will operate at a 4.8% CAP rate when rents are brought up to market. The condition of the units also gives a buyer the opportunity to update the units and capture higher rents. The location is great for commuters heading to both north or south Seattle as it is only a few blocks to the Capitol Hill Light Rail Station. Cal Anderson Park and Broadway Avenue are also just a few blocks away.
- Listed by Michael Urquhart • Paragon Real Estate Advisors
- Listed by Brian D. Platt • Paragon Real Estate Advisors
Property Details for 1419 East Olive Street
Community Name
Capitol Hill
School DistrictSeattle
Number of Assigned Spaces0
Total Covered Parking0
Entry Date06-21-2022
Energy SourceElectric
SewerSewer Connected
Location
Listing Courtesy of Paragon Real Estate Advisors![]()
Sold By Windermere Real Estate/East
Add your commute
LISTING UPDATED: 01/04/2023 01:51 PM
Property Details for 1419 East Olive Street
| Status | Sold |
|---|---|
| MLS # | 2004144 |
| Days on Market | 125 |
| Cumulative Days on Market | 125 |
| Taxes | $10,578 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1945 |
| Lot Size | 0.09 AC / 3,840 SF |
| County | King County |
Location
Listing Courtesy of Paragon Real Estate Advisors![]()
Sold By Windermere Real Estate/East
Add your commute
Building Information for 1419 East Olive Street
Stories2Residences3Year Built1945Building Size-Lot Size0.09 AC / 3,840 SF
Payment Calculator
$7,758 per month
30 year fixed, 7.25% Interest
Principal and Interest
$6,876
Property Taxes
$882
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 1419 East Olive Street
Summary
Location and General Information
- Style: 53 - Tri-plex
- Area: 390 - Central Seattle
- Directions: From 1-5 N, take exit 164A, left onto 7th Ave, right onto Madison, left onto 15th, left onto E Olive, property is on the left
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2022
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
Interior and Exterior Features
Interior Features
- Furnished: Unfurnished
- Fireplace: No
- Heating: Yes
Exterior Features
- Exterior: Brick
- Roof: Composition
Property
Utilities
- Heating and Cooling: Baseboard
- Water/Sewer/Garbage: 3409
- Power Production Type: Electric
- Utilities: Sewer Connected, Electricity Available
Property and Assessments
- New Construction YN: No
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 28
Lot Information
- Lot Size Source: King County
- Parcel Number Free Text: 1728800085
- Calculated Square Footage: 2750
- Structure Type: Triplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 2750.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 0
- Number of Stories in Building: 2
- Vacancy Rate: 3
- Number Of Units Total: 3
- Units Below Grade: false
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 17067
- Gross Adjusted Income: 76149
- Gross Rent Multiplier: 16.9
- Gross Scheduled Income: $78,504
- Insurance Expense: $1,138
- Net Operating Income: $59,082
- Other Expenses: $1,942
- Total Monthly Income: 6542
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1419
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 800
- Rent Unit 1: $2,100.00
- Bedrooms Unit 1: 2
- Fireplaces Unit 1: 1
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 1419.5
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 550
- Rent Unit 2: $1,195.00
- Bedrooms Unit 2: 1
- Fireplaces Unit 2: 0
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 1423
- Washer/Dryer Unit 3: true
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Square Feet Unit 3: 1400
- Rent Unit 3: $2,950.00
- Bedrooms Unit 3: 3
- Fireplaces Unit 3: 1
- Bathrooms Unit 3: 2
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 2750.0
- Leasable Area Units: Square Feet
Property History for 1419 East Olive Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1419 East Olive Street
Taxable ValueLand$640,000Additions$639,000Total$1,279,000
Tax Record2022$10,862 ($905 / month)
Home Facts
Baths3Total Finished SqFt3,180 SqFtAbove Ground SqFt2,400 SqFtFinished Basement SqFt780 SqFtStories1Lot Size3,840 SqFtStyleTriplexYear Built1945ZoningLR3 (M)CountyKINGAPN172880-0085Fireplace TypeHas Fireplace
Schools near 1419 East Olive Street
This home is within Seattle Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Stevens Elementary School PublicK to 5 | ||
Edmonds S. Meany Middle School Public6 to 8 | ||
Garfield High School Public9 to 12 | ||
Seattle World School Public6 to 12 |
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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Listing Courtesy of Paragon Real Estate Advisors
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.