4511 Southwest Lander Street
4511 Southwest Lander Street
Seattle, WA 98116
$1,235,000
Price
6
Beds
3
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Listing provided courtesy of Blake Investment Advisors
Description
An opportunity for an investor to acquire an existing triplex zoned NR3, offering the ability to build a 1,000-square-foot DADU on the west side of the lot, increasing the stabilized cap rate to 9.28%. Current operations at the North Admiral Triplex produce an average monthly rent of $1,617 per unit. This submarket can support a higher rent of $2,550 per unit. A new buyer can realize this upside on the Triplex by fully renovating each unit and installing washers and dryers in the apartments, with...An opportunity for an investor to acquire an existing triplex zoned NR3, offering the ability to build a 1,000-square-foot DADU on the west side of the lot, increasing the stabilized cap rate to 9.28%. Current operations at the North Admiral Triplex produce an average monthly rent of $1,617 per unit. This submarket can support a higher rent of $2,550 per unit. A new buyer can realize this upside on the Triplex by fully renovating each unit and installing washers and dryers in the apartments, with a proposed cost of $150,000. The proposed ADU (buyer to verify feasibility) can achieve a rent of $3,600 and the proposed cost to construct is $350,000. Upon completion of the DADU, the new income stream equates to a 9.28% Capitalization Rate.
- Listed by Gabe Blake • Blake Investment Advisors
- Listed by Josh Blake • Blake Investment Advisors
Property Details for 4511 Southwest Lander Street
Community Name
North Admiral
School DistrictSeattle
Number of Assigned Spaces3
Total Covered Parking3
Entry Date05-23-2023
Energy SourceElectric,Natural Gas
SewerSewer Connected
Location
Listing Courtesy of Blake Investment Advisors![]()
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LISTING UPDATED: 04/15/2024 12:11 PM
Property Details for 4511 Southwest Lander Street
| Status | Active |
|---|---|
| MLS # | 2133436 |
| Days on Market | 346 |
| Cumulative Days on Market | 284 |
| Taxes | $7,584 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1910 |
| Lot Size | 0.12 AC / 5,400 SF |
| County | King County |
Location
Listing Courtesy of Blake Investment Advisors![]()
Add your commute
Building Information for 4511 Southwest Lander Street
Stories2Residences3Year Built1910Building Size-Lot Size0.12 AC / 5,400 SF
Payment Calculator
$7,372 per month
30 year fixed, 7.25% Interest
Principal and Interest
$6,740
Property Taxes
$632
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 4511 Southwest Lander Street
Summary
Location and General Information
- Style: 53 - Tri-plex
- Area: 140 - West Seattle
- Elementary School: Lafayette
- Middle Or Junior School: Madison Mid
- High School: West Seattle High
- Directions: Take West Seattle bridge west & turn north onto SW Admiral Way. Turn left on 45th Ave SW and then turn right on SW Lander St. Home in on 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
- Amenities: Coin Op Laundry
- Cooling: Yes
- Cooling: Forced Air
- Fireplace: No
- Heating: Yes
- Heating: Forced Air
Exterior Features
- Exterior: Wood, Wood Products
- Roof: Composition
Property
Utilities
- Water/Sewer/Garbage: 6533
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Zoning Class: Residential
- Possible Use: Residential
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: Bank Or REO, None
- Photos Count: 17
Lot Information
- Lot Size Source: Public Record
- Parcel Number Free Text: 9276202420
- Calculated Square Footage: 0
- Structure Type: Triplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 0.0
- 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: 2
- Number Of Units Total: 3
- Units Below Grade: false
- Units In Building Total: 3
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 18360
- Gross Adjusted Income: 0
- Gross Rent Multiplier: 0
- Gross Scheduled Income: $68,780
- Insurance Expense: $1,262
- Net Operating Income: $51,682
- Other Expenses: $2,981
- Total Monthly Income: 5350
- Fuel Expense: $0
Unit 1
- Name Unit 1: C
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 600
- Rent Unit 1: $1,150.00
- Bedrooms Unit 1: 1
- Fireplaces Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: B
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 910
- Rent Unit 2: $1,500.00
- Bedrooms Unit 2: 2
- Fireplaces Unit 2: 0
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: A
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 1300
- Rent Unit 3: $2,200.00
- Bedrooms Unit 3: 3
- Fireplaces Unit 3: 1
- Bathrooms Unit 3: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 2810.0
- Leasable Area Units: Square Feet
Property History for 4511 Southwest Lander 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 4511 Southwest Lander Street
Taxable ValueLand$354,000Additions$539,000Total$893,000
Tax Record2022$7,914 ($660 / month)
Home Facts
Baths2.8Total Finished SqFt4,370 SqFtAbove Ground SqFt2,810 SqFtFinished Basement SqFt1,560 SqFtStories1Lot Size5,400 SqFtStyleTriplexYear Built1910ZoningNR3CountyKINGAPN927620-2420Fireplace TypeHas Fireplace
Schools near 4511 Southwest Lander Street
This home is within Seattle Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 8 |
Rating | School | Distance |
|---|---|---|
Lafayette Elementary School PublicPK to 5 | ||
Madison Middle School Public6 to 8 | ||
West Seattle High School Public9 to 12 | ||
Pathfinder K-8 PublicK to 8 |
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 Blake Investment 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.