314 East Mercer Street

314 East Mercer Street

Seattle, WA 98102

$1,345,000
Price
4
Beds
5
Baths
4,595 Sq. Ft.
$293 / Sq. Ft.
4,595
Sq. Ft.
$293
per Sq. Ft.
Listing provided courtesy of Windermere RE Greenwood

Description

This classic 5-unit apartment building in prime Capitol Hill location will offer the savvy investor a strong revenue stream and tons of upside. Each spacious unit features a unique layout, wood floors, fresh interior paint, gas cooking. Great mix of 1 bed, 1+ den, 2-story units, some with views of city + mountains. The basement includes storage, common laundry, large unfinished area for possible expansion. Rents are proforma from property manager. Currently a 5.4 CAP with room for upside. The building...This classic 5-unit apartment building in prime Capitol Hill location will offer the savvy investor a strong revenue stream and tons of upside. Each spacious unit features a unique layout, wood floors, fresh interior paint, gas cooking. Great mix of 1 bed, 1+ den, 2-story units, some with views of city + mountains. The basement includes storage, common laundry, large unfinished area for possible expansion. Rents are proforma from property manager. Currently a 5.4 CAP with room for upside. The building is now vacant, allowing new owner the option to renovate or place tenants immediately. Low vacancy rate historically (fully leased for many years). Great location, close to light rail, SLU, freeway, everything on Capitol Hill and DT Seattle.
  1. Listed by Jed A Kliman • Windermere RE Greenwood

Property Details for 314 East Mercer Street

Community Name
Capitol Hill
School District
Seattle
View
City, Mountain(s), Partial, Territorial
Number of Assigned Spaces
0
Total Covered Parking
0
Offers Review Date
03-26-2024
Entry Date
03-20-2024
Energy Source
Natural Gas

Location

Listing Courtesy of Windermere RE Greenwood
Add your commute
LISTING UPDATED: 05/23/2024 10:04 AM

Property Details for 314 East Mercer Street

StatusActive
MLS #2211088
Days on Market65
Cumulative Days on Market32
Taxes$13,182 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1909
Lot Size0.06 AC / 2,400 SF
CountyKing County

Location

Listing Courtesy of Windermere RE Greenwood
Add your commute

Building Information for 314 East Mercer Street

Stories3Residences5Year Built1909Building Size-Lot Size0.06 AC / 2,400 SF

Payment Calculator

$8,439 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,340

Property Taxes

$1,099

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 314 East Mercer Street

Summary
Location and General Information
  • Style: 55 - 5-9 Units
  • Site Features: Cable TV, Deck, Fenced-Partially, Gas Available, High Speed Internet
  • Area: 390 - Central Seattle
  • Elementary School: Lowell
  • Middle Or Junior School: Meany Mid
  • High School: Garfield High
  • Effective Year Built Source: Public Records
  • Directions: From Broadway, go west on E Mercer St to property. Great Capitol Hill location.
  • Leased Items: None
  • Property Sub Type: MULT
  • View: Yes
  • Waterfront: No
Taxes and HOA Information
  • Tax Year: 2024
Parking
  • Number of Carport Spaces: 0.0
  • Carport: No
  • Open Parking Spaces: 0.0
  • Open Parking: No
Interior and Exterior Features
Bathroom Information
  • Full Baths Upper: 0
  • Three Quarter Baths Upper: 0
  • Half Baths Upper: 0
  • Main Level Bathrooms: 0
Bedroom Information
  • Bedrooms Upper: 0
  • Bedrooms Possible: 0
Interior Features
  • Fireplaces Total: 0
  • Floor Covering: Concrete, Softwood, Hardwood, Vinyl Plank, Carpet
  • Features: Concrete, Fir/Softwood, Hardwood, Wall to Wall Carpet
  • Amenities: Basement,Coin Op Laundry,Storage
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Stove/Free Standing
  • FIRPTA: No
Exterior Features
  • Exterior: Wood
  • Roof: Composition
  • Security Features: FullyFenced
Property
Utilities
  • Water Source: Public
  • Water/Sewer/Garbage: 5700
  • Power Production Type: Natural Gas
Property and Assessments
  • New Construction YN: No
  • Zoning Jurisdiction: City
  • Foundation: Poured Concrete
  • Zoning Class: Multi-Family
  • First Right Of Refusal: false
  • Possible Use: Multi-Family
  • MLS Square Footage Source: Appraisal
  • Preliminary Title Ordered: Yes
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 1980
  • Photos Count: 35
Lot Information
  • Lot Details: Alley, Corner Lot, Curbs, Paved, Sidewalk
  • Lot Size Source: KCR
  • Parcel Number Free Text: 6848200025
  • Building Condition: Good
  • Calculated Square Footage: 4595
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 4595.0
  • 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: 3
  • Vacancy Rate: 3
  • Number Of Units Total: 5
  • Units Below Grade: false
  • Units In Building Total: 5
Financing / Income and Expenses
  • Electric Expense: $500
  • Total Expenses: 36990
  • Gross Adjusted Income: 109998
  • Gross Rent Multiplier: 12.3
  • Gross Scheduled Income: $113,400
  • Insurance Expense: $3,500
  • Net Operating Income: $73,008
  • Other Expenses: $13,608
  • Total Monthly Income: 9450
  • Fuel Expense: $500
Unit 1
  • Name Unit 1: 103
  • Washer/Dryer Unit 1: false
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: false
  • Square Feet Unit 1: 609
  • Rent Unit 1: $2,050.00
  • Bedrooms Unit 1: 1
  • Fireplaces Unit 1: 1
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: 101
  • Washer/Dryer Unit 2: false
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: false
  • Square Feet Unit 2: 726
  • Rent Unit 2: $1,900.00
  • Bedrooms Unit 2: 1
  • Fireplaces Unit 2: 1
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: 201
  • Washer/Dryer Unit 3: false
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: false
  • Square Feet Unit 3: 718
  • Rent Unit 3: $2,000.00
  • Bedrooms Unit 3: 1
  • Fireplaces Unit 3: 1
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 202
  • Washer/Dryer Unit 4: false
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: false
  • Square Feet Unit 4: 794
  • Rent Unit 4: $2,050.00
  • Bedrooms Unit 4: 1
  • Fireplaces Unit 4: 0
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 204
  • Washer/Dryer Unit 5: false
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: false
  • Square Feet Unit 5: 486
  • Rent Unit 5: $1,450.00
  • Bedrooms Unit 5: 0
  • Fireplaces Unit 5: 0
  • Bathrooms Unit 5: 1
Rental
Rent Information
  • Occupant Type: Vacant
  • Leasable Area: 3333.0
  • Leasable Area Units: Square Feet

Property History for 314 East Mercer Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 314 East Mercer Street

Taxable ValueLand$588,000Additions$825,000Total$1,413,000
Tax Record2022$11,942 ($995 / month)
Home Facts
Total Finished SqFt3,240 SqFtAbove Ground SqFt3,240 SqFtStories2Lot Size2,400 SqFtStyleMulti-Family Dwelling (2-4)Year Built1909Year Renovated1980ZoningLR3 (M)CountyKINGAPN684820-0025Fireplace TypeHas Fireplace

Schools near 314 East Mercer Street

This home is within Seattle Public Schools.
Rating
School
Type
Grades
Distance
Lowell Elementary School
Public - PK to 5
Edmonds S. Meany Middle School
Public - 6 to 8
Garfield High School
Public - 9 to 12
Hutch School
Public - PK to 12
Rating
School
Distance
Lowell Elementary School
PublicPK to 5

Edmonds S. Meany Middle School
Public6 to 8

Garfield High School
Public9 to 12

Hutch School
PublicPK 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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More information about 314 East Mercer Street, Seattle, WA 98102

314 East Mercer Street is a multi-family home for sale in Seattle, WA 98102. This property was listed for sale on March 20, 2024 by Windermere RE Greenwood, it's currently listed at $1,345,000. This listing's school district is Seattle Public Schools. Nearby schools include Lowell Elementary School, Edmonds S. Meany Middle School and Garfield High School. 314 East Mercer Street is a 4-bed, 5-bath, 4,595 sqft multi-family home built in 1909.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Windermere RE Greenwood

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.