3901 Martin Luther King Jr Way South
3901 Martin Luther King Jr Way South
Seattle, WA 98108
$1,515,000
Last Sold Price
11
Beds
9
Baths
7,344 Sq. Ft.
$206 / Sq. Ft.
7,344
Sq. Ft.
$206
per Sq. Ft.
Sold 2/14/20
Sold 2/14/20
Listing provided courtesy of Westlake Associates, Inc.
Description
MLK Flats is well situated between the Mount Baker and Columbia City Light Rail stations and is convenient to Downtown Seattle Shopping, Restaurants, Amazon, Google and Facebook. Three units have been updated with in unit washer and dryer (Units 2, 6 and 8). Other units have been updated with fresh paint and cabinets. The former laundry room space has been demoed to add a tenth unit. Building is fully leased and under professional property management.MLK Flats is well situated between the Mount Baker and Columbia City Light Rail stations and is convenient to Downtown Seattle Shopping, Restaurants, Amazon, Google and Facebook. Three units have been updated with in unit washer and dryer (Units 2, 6 and 8). Other units have been updated with fresh paint and cabinets. The former laundry room space has been demoed to add a tenth unit. Building is fully leased and under professional property management.
- Listed by Gary Hunter • Westlake Associates, Inc.
Property Details for 3901 Martin Luther King Jr Way South
Community Name
Jefferson Park
School DistrictSeattle
Number of Assigned Spaces8
Total Covered Parking0
Entry Date09-10-2019
SewerSewer Connected
Location
Listing Courtesy of Westlake Associates, Inc.![]()
Sold By Westlake Associates, Inc.
Add your commute
LISTING UPDATED: 03/26/2021 02:16 PM
Property Details for 3901 Martin Luther King Jr Way South
| Status | Sold |
|---|---|
| MLS # | 1517480 |
| Days on Market | 148 |
| Cumulative Days on Market | 1565 |
| Taxes | $7,939 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1963 |
| Lot Size | 0.15 AC / 6,738 SF |
| County | King County |
Location
Listing Courtesy of Westlake Associates, Inc.![]()
Sold By Westlake Associates, Inc.
Add your commute
Building Information for 3901 Martin Luther King Jr Way South
Stories3Residences9Year Built1963Building Size-Lot Size0.15 AC / 6,738 SF
Payment Calculator
$8,930 per month
30 year fixed, 7.25% Interest
Principal and Interest
$8,268
Property Taxes
$662
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 3901 Martin Luther King Jr Way South
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 385 - SODO/Beacon Hill
- Directions: From Seattle, take I-5 S to Rainier Ave S. Take exit 3 from I-90 E. Driving S on Rainier Ave S, turn right onto Martin Luther King Jr Way S. Property is on the right.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2019
Parking
- Number of Carport Spaces: 8.0
- 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, Wood
- Roof: Composition
Property
Utilities
- Electric On Property: No
- Heating and Cooling: Baseboard
- Water/Sewer/Garbage: 10600
- Power Production Type: Electric
- Utilities: Sewer Connected, Electricity Available
Property and Assessments
- New Construction YN: No
- Foundation: Poured Concrete
- Preliminary Title Ordered: Yes
- Special Listing Conditions: None
- Photos Count: 11
Lot Information
- Lot Size Source: King County Assessor
- Parcel Number Free Text: 2381700140
- Calculated Square Footage: 7344
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 7344.0
- 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: 9
- Units Below Grade: false
- Units In Building Total: 9
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 39739
- Gross Adjusted Income: 139001
- Gross Rent Multiplier: 13
- Gross Scheduled Income: $144,225
- Insurance Expense: $3,500
- Net Operating Income: $99,262
- Other Expenses: $17,700
- Total Monthly Income: 12018
- Fuel Expense: $0
Unit 1
- Name Unit 1: 4
- Square Feet Unit 1: 550
- Rent Unit 1: $1,195.00
- Bedrooms Unit 1: 1
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 5
- Square Feet Unit 2: 790
- Rent Unit 2: $1,495.00
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 7
- Square Feet Unit 3: 550
- Rent Unit 3: $1,200.00
- Bedrooms Unit 3: 1
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 8
- Square Feet Unit 4: 550
- Rent Unit 4: $1,275.00
- Bedrooms Unit 4: 1
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 3
- Square Feet Unit 5: 550
- Rent Unit 5: $1,095.00
- Bedrooms Unit 5: 1
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 2
- Square Feet Unit 6: 550
- Rent Unit 6: $1,445.00
- Bedrooms Unit 6: 1
- Bathrooms Unit 6: 1
Unit 7
- Name Unit 7: 9
- Square Feet Unit 7: 550
- Rent Unit 7: $1,100.00
- Bedrooms Unit 7: 1
- Bathrooms Unit 7: 1
Unit 8
- Name Unit 8: 6
- Square Feet Unit 8: 550
- Rent Unit 8: $1,395.00
- Bedrooms Unit 8: 1
- Bathrooms Unit 8: 1
Unit 9
- Name Unit 9: 1
- Square Feet Unit 9: 790
- Rent Unit 9: $1,600.00
- Bedrooms Unit 9: 2
- Bathrooms Unit 9: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 5856.0
- Leasable Area Units: Square Feet
Property History for 3901 Martin Luther King Jr Way South
| 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 3901 Martin Luther King Jr Way South
Taxable ValueLand$875,900Additions$1,011,100Total$1,887,000
Tax Record2022$16,607 ($1,384 / month)
Home Facts
Total Finished SqFt5,860 SqFtAbove Ground SqFt5,860 SqFtStories3Lot Size6,738 SqFtStyleMulti-Family Dwelling (2-4)Year Built1963Year Renovated1986ZoningLR3 (M)CountyKINGAPN238170-0140
Schools near 3901 Martin Luther King Jr Way South
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 - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Kimball Elementary School PublicK to 5 | ||
Washington Middle School Public6 to 8 | ||
Franklin High School Public9 to 12 | ||
Interagency Open Doors Public9 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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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 Westlake Associates, Inc.
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.