5101 Ravenna Avenue Northeast
Seattle, WA 98105
$2,250,000
Price
—
Beds
4,800 Sq. Ft.
$469 / Sq. Ft.
4,800
Sq. Ft.
$469
per Sq. Ft.
Listing provided courtesy of Lee & Associates Commercial RE
Description
Ravenna Terrace, a 7-unit building ideally situated near work, school & play, Ravenna Terrace features an attractive mix of 6 2-bed & 1 1-bed units. These mid-century floorplans average in size of 686sf & have received updates to cabinetry, counters & appliances on turns. Ownership has replaced all the windows with double pane units & the roof has received a recoat in last 2 yrs. With nearby economic drivers including Seattle Children's, U-Village and UW Hospital as well as UW. Investors will benefit...Ravenna Terrace, a 7-unit building ideally situated near work, school & play, Ravenna Terrace features an attractive mix of 6 2-bed & 1 1-bed units. These mid-century floorplans average in size of 686sf & have received updates to cabinetry, counters & appliances on turns. Ownership has replaced all the windows with double pane units & the roof has received a recoat in last 2 yrs. With nearby economic drivers including Seattle Children's, U-Village and UW Hospital as well as UW. Investors will benefit from a diverse tenant pool. A well cared for asset, Ravenna Terrace presents an attractive opportunity to realize upside from current below market rents as well as additional lift through unit upgrades.
- Listed by Daniel Lim • Lee & Associates Commercial RE
- Listed by Candice Chevaillier • Lee & Associates Commercial RE
Property Details for 5101 Ravenna Avenue Northeast
Community Name
Ravenna
School DistrictSeattle
ViewCity
Number of Assigned Spaces0
Total Covered Parking0
Offers Review Date08-22-2024
Entry Date07-29-2024
Energy SourceElectric
LISTING UPDATED: 09/05/2024 05:49 AM
Property Details for 5101 Ravenna Avenue Northeast
| Status | Active |
|---|---|
| MLS # | 2270760 |
| Days on Market | 53 |
| Cumulative Days on Market | 33 |
| Taxes | $15,982 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1956 |
| Lot Size | 0.01 AC / 500 SF |
| County | King County |
Building Information for 5101 Ravenna Avenue Northeast
Stories2Residences7Year Built1956Building Size-Lot Size0.01 AC / 500 SF
Property Information for 5101 Ravenna Avenue Northeast
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 710 - North Seattle
- Effective Year Built Source: Public Records
- Directions: Head north on Ravenna Ave NE property on right at corner of 51st St
- Leased Items: Washer/Dryer
- Property Sub Type: MULT
- View: Yes
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 0.0
- Open Parking: No
Virtual Tour
- Virtual Tour URL Description: Property Website
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: Softwood, Hardwood, Laminate, Vinyl Plank
- Features: Fir/Softwood, Hardwood, Laminate
- Amenities: Coin Op Laundry
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard
Exterior Features
- Exterior: Brick
- Roof: Flat
Property
Utilities
- Water Source: Community
- Water/Sewer/Garbage: 9982
- Power Production Type: Electric
Property and Assessments
- New Construction YN: No
- Zoning Jurisdiction: City
- Foundation: Poured Concrete
- First Right Of Refusal: false
- MLS Square Footage Source: County
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Year Built Effective: 1992
- Photos Count: 12
Lot Information
- Lot Details: Sidewalk
- Lot Size Source: County
- Parcel Number Free Text: 7174800635
- Calculated Square Footage: 4800
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 4800.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 0
- Number of Stories in Building: 2
- Vacancy Rate: 5
- Number Of Units Total: 7
- Units Below Grade: false
- Units In Building Total: 7
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 38314
- Gross Adjusted Income: 129594
- Gross Rent Multiplier: 16.67
- Gross Scheduled Income: $136,344
- Insurance Expense: $3,600
- Net Operating Income: $91,280
- Other Expenses: $8,750
- Total Monthly Income: 11012
- Fuel Expense: $0
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 4800.0
- Leasable Area Units: Square Feet
Property History for 5101 Ravenna Avenue Northeast
| 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 5101 Ravenna Avenue Northeast
Taxable ValueLand$1,300,000Additions$569,000Total$1,869,000
Tax Record2022$15,982 ($1,332 / month)
Home Facts
Total Finished SqFt4,067 SqFtAbove Ground SqFt4,067 SqFtStories2Lot Size5,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1956Year Renovated1992ZoningLR2 (M)CountyKINGAPN717480-0635
Schools near 5101 Ravenna Avenue Northeast
This home is within Seattle Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 5 |
Rating | School | Distance |
|---|---|---|
Laurelhurst Elementary School PublicK to 5 | ||
Eckstein Middle School Public6 to 8 | ||
Roosevelt High School Public9 to 12 | ||
McDonald International School 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 Lee & Associates Commercial RE
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.
