8523 23rd Avenue Northeast
8523 23rd Avenue Northeast
Seattle, WA 98115
$1,940,000
Last Sold Price
8
Beds
4
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Sold 4/1/24
Sold 4/1/24
Description
SELLER FINANCING with POSITIVE LEVERAGE ~ Investors can acquire a well-maintained asset with improvements that combine to create a turnkey investment and durable income stream via attractive purchasing terms offered by the seller. Terms include a 25% down payment, a 4.5% rate with interest-only payments, and a 7-year term. Improvements like ductless mini-split heat pumps, which are significantly more efficient and provide heat and air conditioning to the units. A new 25-year roof was placed in service...SELLER FINANCING with POSITIVE LEVERAGE ~ Investors can acquire a well-maintained asset with improvements that combine to create a turnkey investment and durable income stream via attractive purchasing terms offered by the seller. Terms include a 25% down payment, a 4.5% rate with interest-only payments, and a 7-year term. Improvements like ductless mini-split heat pumps, which are significantly more efficient and provide heat and air conditioning to the units. A new 25-year roof was placed in service 5 years ago, new water heaters, and a hot water circulation pump create ready-to-use hot water on-demand saving time and money. Opportunity exists to institute utility bill back and install washers and dryers in the units to increase rents.
Property Details for 8523 23rd Avenue Northeast
Community Name
Wedgwood
School DistrictSeattle
Number of Assigned Spaces7
Total Covered Parking0
Entry Date02-07-2024
Energy SourceElectric
SewerSewer Connected
Location
Add your commute
LISTING UPDATED: 04/01/2024 03:18 PM
Property Details for 8523 23rd Avenue Northeast
| Status | Sold |
|---|---|
| MLS # | 2197876 |
| Days on Market | 24 |
| Cumulative Days on Market | 212 |
| Taxes | $9,655 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1970 |
| Lot Size | 0.14 AC / 6,260 SF |
| County | King County |
Location
Add your commute
Building Information for 8523 23rd Avenue Northeast
Stories2Residences4Year Built1970Building Size-Lot Size0.14 AC / 6,260 SF
Payment Calculator
$11,392 per month
30 year fixed, 7.25% Interest
Principal and Interest
$10,587
Property Taxes
$805
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 8523 23rd Avenue Northeast
Summary
Location and General Information
- Style: 54 - 4-Plex
- Area: 710 - North Seattle
- Directions: MAPLE LEAF TO GREEN LAKE CIRCLE LOT 1 LESS N 21.96 FT & 2 LESS S 13.33 FT LESS ST PLAT BLOCK: 7 PLAT LOT: 1-2 AC 5
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2023
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 7.0
- Open Parking: Yes
Interior and Exterior Features
Interior Features
- Floor Covering: Vinyl Plank
- Amenities: Thermal Windows
- Cooling: Yes
- Cooling: Ductless HP-Mini Split
- Fireplace: No
- Heating: Yes
- Heating: Ductless HP-Mini Split
Exterior Features
- Exterior: Wood Products
- Roof: Composition
Property
Utilities
- Water/Sewer/Garbage: 9000
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Class: Multi-Family
- Possible Use: Multi-Family
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 8
Lot Information
- Lot Size Source: County Record
- Parcel Number Free Text: 5101400472
- Building Condition: Very Good
- Calculated Square Footage: 0
- Structure Type: Quadruplex
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 0.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Common Interest: Multi-Family
- Elevation Units: Feet
- Irrigation Water Rights: No
- Green Energy Efficient: Thermal Windows
Multi Family
Building Details
- Number of Uncovered Spaces: 7
- Number of Stories in Building: 2
- Vacancy Rate: 2
- Number Of Units Total: 4
- Units Below Grade: false
- Units In Building Total: 4
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 21919
- Gross Adjusted Income: 112320
- Gross Rent Multiplier: 0
- Gross Scheduled Income: $114,000
- Insurance Expense: $1,764
- Net Operating Income: $90,401
- Other Expenses: $1,500
- Total Monthly Income: 9500
- Fuel Expense: $0
Unit 1
- Name Unit 1: 1
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 900
- Rent Unit 1: $2,200.00
- Bedrooms Unit 1: 2
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 2
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 1000
- Rent Unit 2: $2,550.00
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 3
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 1000
- Rent Unit 3: $2,550.00
- Bedrooms Unit 3: 2
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 4
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 900
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 3800.0
- Leasable Area Units: Square Feet
Property History for 8523 23rd Avenue Northeast
| 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 8523 23rd Avenue Northeast
Taxable ValueLand$1,064,200Additions$1,000Total$1,065,200
Tax Record2022$9,655 ($805 / month)
Home Facts
Total Finished SqFt3,800 SqFtAbove Ground SqFt3,800 SqFtStories2Lot Size6,260 SqFtStyleMulti-Family Dwelling (2-4)Year Built1970Year Renovated1992ZoningLR2 (M)CountyKINGAPN510140-0472
Schools near 8523 23rd Avenue Northeast
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 - | PK to 5 |
Rating | School | Distance |
|---|---|---|
Wedgwood Elementary School PublicK to 5 | ||
Eckstein Middle School Public6 to 8 | ||
Nathan Hale High School Public9 to 12 | ||
Thornton Creek Elementary School PublicPK 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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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.
