4511 SW LANDER ST
SEATTLE, WA 98116
$1,235,000
N/A Beds
0 Baths
0 Sq Ft
Status Active
MLS# 2133436
An opportunity for an investor to acquire an existing triplex zoned NR3, offering the ability to build a 1,000-square-foot DADU on the west side of the lot, increasing the stabilized cap rate to 9.28%. Current operations at the North Admiral Triplex produce an average monthly rent of $1,617 per unit. This submarket can support a higher rent of $2,550 per unit. A new buyer can realize this upside on the Triplex by fully renovating each unit and installing washers and dryers in the apartments, with a proposed cost of $150,000. The proposed ADU (buyer to verify feasibility) can achieve a rent of $3,600 and the proposed cost to construct is $350,000. Upon completion of the DADU, the new income stream equates to a 9.28% Capitalization Rate.
Details for 4511 SW LANDER ST
Built in 1910
$∞ / Sq Ft
3 parking spaces
Forced Air
Forced Air
360 Days on website
0.124 acres lot