22805 30th Avenue South

Des Moines, WA 98198

$1,995,000
Price
14
Beds
11
Baths
7,300 Sq. Ft.
$273 / Sq. Ft.
7,300
Sq. Ft.
$273
per Sq. Ft.
Listing provided courtesy of Paragon Real Estate Advisors

Description

This 11-unit building presents the opportunity to acquire an in-place 5.8% current cap rate with operational up-side to reach a 6.7% market cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,170,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with three 2-bedroom/1-bathroom units, each 780 square feet. The renovated...This 11-unit building presents the opportunity to acquire an in-place 5.8% current cap rate with operational up-side to reach a 6.7% market cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,170,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with three 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms.
  1. Listed by Michael Urquhart • Paragon Real Estate Advisors
  2. Listed by Brian D. Platt • Paragon Real Estate Advisors

Property Details for 22805 30th Avenue South

Community Name
Des Moines
School District
Highline
Number of Assigned Spaces
13
Total Covered Parking
0
Entry Date
09-13-2024
Energy Source
Electric
Sewer
Sewer Connected
LISTING UPDATED: 09/13/2024 02:31 PM

Property Details for 22805 30th Avenue South

StatusActive
MLS #2289656
Days on Market7
Cumulative Days on Market7
Taxes$21,656 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1968
Lot Size0.39 AC / 16,810 SF
CountyKing County

Building Information for 22805 30th Avenue South

Stories3Residences11Year Built1968Building Size-Lot Size0.39 AC / 16,810 SF

Property Information for 22805 30th Avenue South

Summary
Location and General Information
  • Style: 56 - 10+ Units
  • Area: 120 - Des Moines/Redondo
  • Effective Year Built Source: Public Records
  • Directions: From downtown Seattle, take I-5 S to WA-516 W/Kent Des Moines Rd. Take exit 149 from I-5 S.
  • 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: 13.0
  • 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
  • Cooling: No
  • Cooling: None
  • Fireplace: No
  • Heating: Yes
  • Heating: Radiant
Exterior Features
  • Exterior: Brick, Wood
  • Roof: Flat
Property
Utilities
  • Water/Sewer/Garbage: 11151
  • Power Production Type: Electric
Property and Assessments
  • New Construction YN: No
  • Preliminary Title Ordered: No
  • Senior Community: No
  • Special Listing Conditions: None
  • Year Built Effective: 2001
  • Photos Count: 26
Lot Information
  • Lot Size Source: King County
  • Parcel Number Free Text: 2500600198
  • Calculated Square Footage: 7300
  • Structure Type: Multi Family
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
  • Building Area Total: 7300.0
  • Building Area Units: Square Feet
  • Property Type: Residential Income
  • Elevation Units: Feet
  • Irrigation Water Rights: No
Multi Family
Building Details
  • Number of Uncovered Spaces: 13
  • Number of Stories in Building: 3
  • Vacancy Rate: 5
  • Number Of Units Total: 11
  • Units Below Grade: false
  • Units In Building Total: 11
Financing / Income and Expenses
  • Electric Expense: $0
  • Total Expenses: 63081
  • Gross Adjusted Income: 179579
  • Gross Rent Multiplier: 10.55
  • Gross Scheduled Income: $189,030
  • Insurance Expense: $5,269
  • Net Operating Income: $116,498
  • Other Expenses: $25,005
  • Total Monthly Income: 14753
  • Fuel Expense: $0
Unit 1
  • Name Unit 1: A
  • Range/Oven Unit 1: true
  • Refrigerator Unit 1: true
  • Dishwasher Unit 1: true
  • Square Feet Unit 1: 620
  • Rent Unit 1: $1,375.00
  • Bedrooms Unit 1: 1
  • Bathrooms Unit 1: 1
Unit 2
  • Name Unit 2: B
  • Range/Oven Unit 2: true
  • Refrigerator Unit 2: true
  • Dishwasher Unit 2: true
  • Square Feet Unit 2: 620
  • Rent Unit 2: $1,350.00
  • Bedrooms Unit 2: 1
  • Bathrooms Unit 2: 1
Unit 3
  • Name Unit 3: C
  • Range/Oven Unit 3: true
  • Refrigerator Unit 3: true
  • Dishwasher Unit 3: true
  • Square Feet Unit 3: 780
  • Rent Unit 3: $1,575.00
  • Bedrooms Unit 3: 2
  • Bathrooms Unit 3: 1
Unit 4
  • Name Unit 4: 101
  • Range/Oven Unit 4: true
  • Refrigerator Unit 4: true
  • Dishwasher Unit 4: true
  • Square Feet Unit 4: 620
  • Rent Unit 4: $1,200.00
  • Bedrooms Unit 4: 1
  • Bathrooms Unit 4: 1
Unit 5
  • Name Unit 5: 102
  • Range/Oven Unit 5: true
  • Refrigerator Unit 5: true
  • Dishwasher Unit 5: true
  • Square Feet Unit 5: 620
  • Rent Unit 5: $1,295.00
  • Bedrooms Unit 5: 1
  • Bathrooms Unit 5: 1
Unit 6
  • Name Unit 6: 103
  • Range/Oven Unit 6: true
  • Refrigerator Unit 6: true
  • Dishwasher Unit 6: true
  • Square Feet Unit 6: 620
  • Rent Unit 6: $1,200.00
  • Bedrooms Unit 6: 1
  • Bathrooms Unit 6: 1
Unit 7
  • Name Unit 7: 104
  • Range/Oven Unit 7: true
  • Refrigerator Unit 7: true
  • Dishwasher Unit 7: true
  • Square Feet Unit 7: 780
  • Rent Unit 7: $1,370.00
  • Bedrooms Unit 7: 2
  • Bathrooms Unit 7: 1
Unit 8
  • Name Unit 8: 201
  • Range/Oven Unit 8: true
  • Refrigerator Unit 8: true
  • Dishwasher Unit 8: true
  • Square Feet Unit 8: 620
  • Rent Unit 8: $1,495.00
  • Bedrooms Unit 8: 1
  • Bathrooms Unit 8: 1
Unit 9
  • Name Unit 9: 202
  • Range/Oven Unit 9: true
  • Refrigerator Unit 9: true
  • Dishwasher Unit 9: true
  • Square Feet Unit 9: 620
  • Rent Unit 9: $1,430.00
  • Bedrooms Unit 9: 1
  • Bathrooms Unit 9: 1
Unit 10
  • Name Unit 10: 203
  • Range/Oven Unit 10: true
  • Refrigerator Unit 10: true
  • Dishwasher Unit 10: true
  • Square Feet Unit 10: 620
  • Rent Unit 10: $1,395.00
  • Bedrooms Unit 10: 1
  • Bathrooms Unit 10: 1
Unit 11
  • Name Unit 11: 204
  • Range/Oven Unit 11: true
  • Refrigerator Unit 11: true
  • Dishwasher Unit 11: true
  • Square Feet Unit 11: 780
  • Rent Unit 11: $1,250.00
  • Bedrooms Unit 11: 2
  • Bathrooms Unit 11: 1
Rental
Rent Information
  • Occupant Type: Tenant
  • Leasable Area: 7300.0
  • Leasable Area Units: Square Feet

Property History for 22805 30th Avenue South

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 22805 30th Avenue South

Taxable ValueLand$420,200Additions$1,568,800Total$1,989,000
Tax Record2022$22,360 ($1,863 / month)
Home Facts
Total Finished SqFt7,436 SqFtAbove Ground SqFt7,436 SqFtStories3Lot Size16,810 SqFtStyleMulti-Family Dwelling (2-4)Year Built1968Year Renovated2001ZoningPR-CCountyKINGAPN250060-0198

Schools near 22805 30th Avenue South

This home is within Highline School District.
Rating
School
Type
Grades
Distance
Midway Elementary School
Public - PK to 5
Pacific Middle School
Public - 6 to 8
Mount Rainier High School
Public - 9 to 12
Global Connections High School
Public - 9 to 12
Rating
School
Distance
Midway Elementary School
PublicPK to 5

Pacific Middle School
Public6 to 8

Mount Rainier High School
Public9 to 12

Global Connections High School
Public9 to 12

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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More information about 22805 30th Avenue South, Des Moines, WA 98198

22805 30th Avenue South is a multi-family home for sale in Des Moines, WA 98198. This property was listed for sale on September 13, 2024 by Paragon Real Estate Advisors, it's currently listed at $1,995,000. It has been on the market for a total of 7 days and was last sold on January 4, 2021. This listing's school district is Highline School District. Nearby schools include Midway Elementary School, Pacific Middle School and Mount Rainier High School. 22805 30th Avenue South is a 14-bed, 11-bath, 7,300 sqft multi-family home built in 1968.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Paragon Real Estate Advisors

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.