519 (& 517) Burnett Ave S, Renton, WA 98057

$1,190,000
4,360
SqFt

Listing courtesy of Windermere R.E. Wall St. Inc..

Selling Office courtesy of: John L. Scott, Inc

Sold Price
$1,190,000
List Price
$1,250,000
Status
SOLD
MLS#
1524033
Closing Date
Dec 06, 2019
Days on Market
23
Style
53 - Tri-plex
Building Condition
['Good']
Finished SqFt
4,360
Lot Size (sq ft)
9,600

Property Description

Great opportunity for multi-family investment with less down than traditional 6-unit. Two separate tax parcels. Both buildings same characteristics/features. 6.5% Cap Rate! Rents/GSI listed in financial info based on current average market rates $8,800/month (current monthly income $4800). All units on month-to-month leases. List price for both buildings combined, sold together only. Buildings recently painted, parking lot re-paved, sellers adding washer/dryer in laundry room of each building.

Additional Information

List Date
2019-10-09 00:00:00
Community
Downtown
Property Type
MULT
Units
3
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1978
Total Parking
11
Uncovered Parking
11
View
Territorial
Exterior
Wood
Roof
Composition
Site Features
Cable TV, High Speed Internet
Lot Details
Alley, Curbs, Paved Street, Sidewalk
School District
Renton
Elementary School
Bryn Mawr Elem
Middle School
Dimmitt Mid
High School
Renton Snr High
Total Monthly Income
$8,800
Gross Scheduled Income
$105,600
Vacancy Rate
5
Gross Adjusted Income
$105,600
Annual Taxes
$9,600
Tax Year
2019
Insurance Expense
$2,116
W/S/G Expenses
$9,720
Total Expenses
$24,436
Net Operating Income
$81,164
Gross Rent Multiplier
11
Cap Rate
6

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
600
Unit 1 Rent
$1,400
Unit 2 Beds
1
Unit 2 Baths
1.00
Unit 2 Size
600
Unit 2 Rent
$1,400
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
800
Unit 3 Rent
$1,600
Unit 4 Beds
1
Unit 4 Baths
1.00
Unit 4 Size
600
Unit 4 Rent
$1,400
Unit 5 Beds
1
Unit 5 Baths
1.00
Unit 5 Size
600
Unit 5 Rent
$1,400
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
800
Unit 6 Rent
$1,600
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