3246 NE 85th St Seattle WA 98115
$3,342,000 For Sale (14 Days Online)
Multiple investment & development strategies abound in this offering featuring two properties - a stabilized 4plex & a commercial retail bldg leased by Wedgwood Ale House. The properties may be purchased individually or together & both offer the opportunity to retain current tenants or vacate them to coincide with a development timeline. Zoned NC2P-55, the parcels have been studied for vertical development; highest & best use would be a 5 story mixed-use w/ 32 apt units & 1400 SF of retail space (see OM for feasibility). 4plex tenants just below market rent, 0 vacancy since 2003. Apt NOI:$60,432/yr. Ale house lease through 2023, below market rent. Corner lots w/ fantastic location in the heart of bustling Wedgwood, so much opportunity!
Offer Review Plan
Will review an offer when submitted
NWMLS Listing #
1876000
Listed by
Chelsea Shapiro, Sound Realty Group Inc
Charles S. Burnett, Sound Realty Group Inc
Contact
John L Scott
Phone...
Listing Details
  • Status
    For Sale
  • Price
    $3,342,000
  • Original Price
    Same as current
  • List Date
    January 5, 2022
  • Last Update
    January 6, 2022
  • Days on Market
    14 Days
  • Cumulative DOM
    14 Days
  • $/sqft (Total)
    --
  • $/sqft (Finished)
    /sqft
  • Listing Source
  • MLS Number
    1876000
  • Listing Broker
    Chelsea Shapiro
  • Listing Office
    Sound Realty Group Inc
Monthly Payment Estimate
  • TOTAL
    $14,294 / month

  • Principal and Interest
    $11,272 / month
  • Property Taxes
    $2,787 / month
  • Homeowners Insurance
    $236 / month

  • based on 20% down
    ($668,400)
  • and a
    3% Interest Rate
Property Details
  • Sqft (Total)
    0 sqft
  • Sqft (Finished)
    Unspecified
  • Sqft (Unfinished)
    None
  • Property Type
    Parcel
  • Sub Type
    Res-Less than 1 Acre
  • Bedrooms
    0 Bedrooms
  • Bathrooms
    0 Bathrooms
  • Lot Size
    10,938 sqft
  • Lot Size Source
    Realist
  • Lot #
    Unspecified
  • Project
    Unspecified
  • Total Stories
    Unspecified
  • Sqft Source
    Unspecified
Property Tax Info
  • 2021 Property Taxes
    $33,438 / year
  • Senior Exemption
    No
Parcel
Schools
  • School District
    Seattle
  • Elementary
    Unspecified
  • Middle
    Unspecified
  • High School
    Unspecified
HOA
  • HOA Dues
    Unspecified
  • HOA Dues Include
    Unspecified
  • HOA Contact
    Unspecified
  • Management Contact
Parking
  • Covered
    Unspecified
Construction
  • Home Builder
    Unspecified
Interior
Property
  • Lot Features
    Corner Lot
    Sidewalk
  • Property Features
    Corner Lot
    Sidewalk
Appliances
Terms
  • 3rd Party Approval Required)
    No
  • Bank Owned (REO)
    No
  • Complex FHA Availability
    Unspecified
  • Potential Terms
    Cash Out
    Conventional
Utilities
  • Electricity
    On Property
  • Natural Gas
    On Property
  • Sewer
    Available
Additional Info
  • Zoning Type
    Commercial
  • Waterfront
    No
  • Air Conditioning (A/C)
    No
  • MLS Area #
    Area 710
  • Landcast ID
    5014380
Listing information is provided by the listing agent except as follows: BuilderB indicates that our system has grouped this listing under a home builder name that doesn't match the name provided by the listing broker. DevelopmentD indicates that our system has grouped this listing under a development name that doesn't match the name provided by the listing broker.