10551 Midvale Avenue North
Seattle, WA 98133
$1,290,000
Price
9
Beds
5
Baths
4,750 Sq. Ft.
$272 / Sq. Ft.
4,750
Sq. Ft.
$272
per Sq. Ft.
Listing provided courtesy of CENTURY 21 North Homes Realty
Description
Seize this chance to own a 5-unit complex in Seattle’s thriving Northgate neighborhood, offering strong cash flow and growth potential. Featuring four spacious 2-bedrooms/1-bath units & one 1-bedroom/1-bath unit, (total of 5 units) this asset has below-market rents, allowing for significant revenue growth. Interiors were updated in 2019 with waterproof vinyl plank flooring, new countertops & appliances, and a new roof was installed in 2019. Tenant amenities include 10 parking spaces, cover parking...Seize this chance to own a 5-unit complex in Seattle’s thriving Northgate neighborhood, offering strong cash flow and growth potential. Featuring four spacious 2-bedrooms/1-bath units & one 1-bedroom/1-bath unit, (total of 5 units) this asset has below-market rents, allowing for significant revenue growth. Interiors were updated in 2019 with waterproof vinyl plank flooring, new countertops & appliances, and a new roof was installed in 2019. Tenant amenities include 10 parking spaces, cover parking garage, and a coin-op laundry inside the premises. Walking distance to transit, minutes from I-5, HWY 99, & restaurants. This property is ideal for investors looking to capitalize on Seattle’s rental market with strong, steady returns. Sold as is.
- Listed by Armie Iglesias • CENTURY 21 North Homes Realty
- Listed by Nit Niranjan • CENTURY 21 North Homes Realty
Property Details for 10551 Midvale Avenue North
Community Name
Northgate
School DistrictSeattle
Number of Assigned Spaces10
Total Covered Parking4
Entry Date11-07-2024
Energy SourceElectric
SewerSewer Connected
LISTING UPDATED: 11/13/2024 12:22 PM
Property Details for 10551 Midvale Avenue North
| Status | Active |
|---|---|
| MLS # | 2307921 |
| Days on Market | 53 |
| Cumulative Days on Market | 53 |
| Taxes | $13,100 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1986 |
| Lot Size | 0.01 AC / 490 SF |
| County | King County |
Building Information for 10551 Midvale Avenue North
Stories2Residences5Year Built1986Building Size-Lot Size0.01 AC / 490 SF
Property Information for 10551 Midvale Avenue North
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Site Features: Fenced-Fully
- Area: 705 - Ballard/Greenlake
- Effective Year Built Source: Public Records
- Directions: From I-5, west on NE Northgate Way, which become N 105th Street. Right onto Midvale which is one block before Hwy 99. Please Park on the street.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 6.0
- Open Parking: Yes
Interior and Exterior Features
Bathroom Information
- Full Baths Upper: 0
- Three Quarter Baths Upper: 0
- Half Baths Upper: 0
- Main Level Bathrooms: 0
Bedroom Information
- Bedrooms Upper: 0
- Bedrooms Possible: 0
Interior Features
- Fireplaces Total: 0
- Floor Covering: Vinyl Plank, Carpet
- Features: Wall to Wall Carpet
- Amenities: Coin Op Laundry
- Cooling: Yes
- Cooling: Wall Unit(s)
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
- FIRPTA: No
Exterior Features
- Exterior: Wood Products
- Roof: Composition
- Security Features: PartiallyFenced
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 14400
- Power Company: Seattle Public Utilities
- Sewer Company: Seattle Public Utilities
- Water Company: Seattle Public Utilities
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- Zoning Class: Commercial
- Possible Use: Commercial
- MLS Square Footage Source: Realist
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1986
- Photos Count: 11
Lot Information
- Lot Size Dimensions: 40'x122'
- Lot Size Source: Public
- Parcel Number Free Text: 6300000695
- Building Condition: Good
- Calculated Square Footage: 4750
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 4750.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 6
- Number of Stories in Building: 2
- Vacancy Rate: 0
- Number Of Units Total: 5
- Units Below Grade: false
- Units In Building Total: 5
Financing / Income and Expenses
- Electric Expense: $1,440
- Total Expenses: 39140
- Gross Adjusted Income: 90360
- Gross Rent Multiplier: 14.57
- Gross Scheduled Income: $90,360
- Insurance Expense: $3,600
- Net Operating Income: $51,220
- Other Expenses: $6,600
- Total Monthly Income: 7530
- Fuel Expense: $0
Unit 1
- Name Unit 1: UN1-101A
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 590
- Rent Unit 1: $900.00
- Bedrooms Unit 1: 1
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: UN2-101B
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 900
- Rent Unit 2: $1,680.00
- Bedrooms Unit 2: 2
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: UN3-102
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 900
- Rent Unit 3: $1,600.00
- Bedrooms Unit 3: 2
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: UN4-201
- Washer/Dryer Unit 4: false
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 900
- Rent Unit 4: $1,550.00
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: UN5-202
- Washer/Dryer Unit 5: false
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Square Feet Unit 5: 900
- Rent Unit 5: $1,650.00
- Bedrooms Unit 5: 2
- Bathrooms Unit 5: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 4190.0
- Leasable Area Units: Square Feet
Property History for 10551 Midvale Avenue North
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 10551 Midvale Avenue North
Taxable ValueLand$661,500Additions$749,500Total$1,411,000
Tax Record2022$12,248 ($1,021 / month)
Home Facts
Total Finished SqFt4,750 SqFtAbove Ground SqFt4,750 SqFtStories2Lot Size4,900 SqFtStyleMulti-Family Dwelling (2-4)Year Built1986Year Renovated2001ZoningLR3 (M)CountyKINGAPN630000-0695
Schools near 10551 Midvale Avenue North
This home is within Seattle Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 5 |
Rating | School | Distance |
|---|---|---|
Viewlands Elementary School PublicPK to 5 | ||
Robert Eagle Staff Middle School Public6 to 8 | ||
Ingraham High School Public9 to 12 | ||
Cascadia Elementary PublicK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of CENTURY 21 North Homes Realty
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.
