The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents and get this building to a 7.18% CAP Rate. Excellent value-add opportunity. All 12 units are Two-Bed/One-Bath units averaging about 700 square feet each. Ample open parking available on site that has been re-paved and re-striped. Building has updated electrical panels and a newer TPO roof. Coin-operated common laundry available. Conveniently located in Shoreline, property has easy access to Rapid Ride Transit, Highway 99, Interstate-5, and the 185th Street Light Rail Station.
| MLS # | 2573588 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1962 |
| Days On Site | 79 |
| Listing Provided By | Westlake Associates, Inc. | David W Petersen |
| SQ Feet | 8,400 |
|---|---|
| Story(s) | 2 |
| Units | 12 |
| Zoning | Multi-Family |
| Acreage | 0.41 |
| Property | 29755 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Shoreline |
| Zip Code | 98133 |
| Area | 715 Richmond Beach | Shoreline |
| Community Name | Shoreline |
| Listing VS Median (in Shoreline) | |
Price: $2,500,000 low | high Med: $725,000 sqft: 8,400 low | high Med: 1,730 $ / sqft: $298 low | high Med: $419 On site: 79 low | high Med: 57 | |
| State | WA |
|---|---|
| County | King |
| City | Shoreline |
| Zip Code | 98133 |
| Area | 715 Richmond Beach | Shoreline |
| Community Name | Shoreline |
| Listing VS Median (in Shoreline) | |
Price: $2,500,000 low | high Med: $725,000 sqft: 8,400 low | high Med: 1,730 $ / sqft: $298 low | high Med: $419 On site: 79 low | high Med: 57 | |