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Reis McCullough

reis.mccullough@exprealty.com +1(206) 945-2709

Listed by:Kidder Mathews • Dan Swanson

$ 2,695,000

Est. payment | -/mo

12 Beds

12 Baths

5,712 SqFt

Save

$ 2,695,000

Est. payment | -/mo

Save

12 Beds

12 Baths

5,712 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

Square Footage 5,712 sqft

Price per Sqft $471

Subdivision Phinney Ridge

MLS Listing ID 2478703

Style 55 - 5-9 Units

Bedrooms 12

Year Built 1904

Annual Tax Amount $18,781

Lot Size 5,000 Sqft

Property Sub-Type Multi Family

Property Description

Alchemy Apartments is a unique, like-new asset located in the heart of Seattle's Phinney Ridge neighborhood. The property offers profitability, long term durability, & upside while providing walkability & modern finishes to residents. The Alchemy features fully remodeled 2-bed/2-bath residences averaging approx. 850 SF. Units have been upgraded with contemporary interiors, in-unit laundry, dishwashers, & modern systems. Constructed with a charming brick veneer exterior & just the right amount of old-world charm, Alchemy Apartments offers lasting quality & low-maintenance ownership, as the building will never require exterior repainting & all major systems have been completely updated. On-site parking is available for 5 vehicles. The Alchemy boasts a Very Walkable walk score of 89, with residents just steps from Phinney Ridge's restaurants, coffee shops, grocery stores, & neighborhood services. The property is within steps of bus route 5 & is approximately a 1/2 mile from the E Line. Additionally, quick access to Interstates 99 & 5 allows for efficient commutes to Downtown, SLU, & the Eastside. The Alchemy offers a 5.7% cap rate based on current income & expenses, providing investors with immediate, in-place cash flow alongside immediate upside. This easy upside was demonstrated by the most recently rented unit going for $3,395. Irreplaceable location, strong rental performance & profitability, excellent transit connectivity, & turnkey condition. Fully renovated in 2013.

Location

State WA

County King

Area 705 - Ballard/Greenlake

Interior

Flooring Hardwood

Fireplace false

Exterior

Exterior Feature Brick

Amenities Available Fenced-Partially

View Y/N No

Roof Type Flat

Building

Lot Description Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools West Woodland

Middle Schools Hamilton Mid

High Schools Lincoln High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

"My mission is to ensure you have a VIP client experience from our initial meeting to closing"

+1(206) 945-2709

reis.mccullough@exprealty.com

371 NE Gilman Blvd, Suite 160, Issaquah

6710 Greenwood AVE N #1-6 Seattle, WA 98103

Reis McCullough

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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6710 Greenwood AVE N #1-6