627 West Mercer Place
Seattle, WA 98119
$2,100,000
Price
8
Beds
6
Baths
3,794 Sq. Ft.
$554 / Sq. Ft.
3,794
Sq. Ft.
$554
per Sq. Ft.
Listing provided courtesy of Paragon Real Estate Advisors
Description
An ideally positioned Fourplex and Duplex (non-conforming) on the west slope of Queen Anne. Just a short drive to Downtown Seattle and conveniently located next to Kinnear Park, allowing tenants to enjoy the city lifestyle while also being able to escape into the PNW’s beauty within minutes. The subject property provides an investor with the opportunity to acquire a property with huge development potential, with the two parcels combining for 6,295 SqFt of well-positioned and well-zoned land prime...An ideally positioned Fourplex and Duplex (non-conforming) on the west slope of Queen Anne. Just a short drive to Downtown Seattle and conveniently located next to Kinnear Park, allowing tenants to enjoy the city lifestyle while also being able to escape into the PNW’s beauty within minutes. The subject property provides an investor with the opportunity to acquire a property with huge development potential, with the two parcels combining for 6,295 SqFt of well-positioned and well-zoned land prime for growth in an ever-expanding Seattle market. Also, an investor can get attractive financing by putting different mortgages on each property allowing for tons of flexibility.
- Listed by Will Douglas • Paragon Real Estate Advisors
- Listed by Ryan Iles • Paragon Real Estate Advisors
Property Details for 627 West Mercer Place
Community Name
Queen Anne
School DistrictSeattle
Number of Assigned Spaces11
Total Covered Parking0
Entry Date07-17-2024
Energy SourceElectric
SewerSewer Connected
LISTING UPDATED: 10/07/2024 04:44 PM
Property Details for 627 West Mercer Place
| Status | Active |
|---|---|
| MLS # | 2266226 |
| Days on Market | 92 |
| Cumulative Days on Market | 92 |
| Taxes | $21,577 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1931 |
| Lot Size | 0.14 AC / 6,295 SF |
| County | King County |
Building Information for 627 West Mercer Place
Stories2Residences6Year Built1931Building Size-Lot Size0.14 AC / 6,295 SF
Property Information for 627 West Mercer Place
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 700 - Queen Anne/Magnolia
- Effective Year Built Source: Public Records
- Directions: From Downtown Seattle, get on 4th Ave. Use the left 2 lanes to turn left onto Denny Wy. Continue onto Elliott Ave W. Turn right onto W Mercer Pl.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
- Additional Tax Ids: 387990-1765
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 11.0
- 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: Forced Air
Exterior Features
- Exterior: Wood
- Roof: Composition
Property
Utilities
- Water/Sewer/Garbage: 8640
- 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: 2005
- Photos Count: 28
Lot Information
- Lot Size Source: King County
- Parcel Number Free Text: 3879901760
- Calculated Square Footage: 3794
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 3794.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 11
- Number of Stories in Building: 2
- Vacancy Rate: 4
- Number Of Units Total: 6
- Units Below Grade: false
- Units In Building Total: 6
Financing / Income and Expenses
- Electric Expense: $0
- Total Expenses: 40304
- Gross Adjusted Income: 123264
- Gross Rent Multiplier: 16.35
- Gross Scheduled Income: $128,400
- Insurance Expense: $2,587
- Net Operating Income: $82,960
- Other Expenses: $7,500
- Total Monthly Income: 10700
- Fuel Expense: $0
Unit 1
- Name Unit 1: Top
- Range/Oven Unit 1: true
- Refrigerator Unit 1: true
- Dishwasher Unit 1: true
- Square Feet Unit 1: 450
- Rent Unit 1: $1,520.00
- Bedrooms Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: Bottom
- Range/Oven Unit 2: true
- Refrigerator Unit 2: true
- Dishwasher Unit 2: true
- Square Feet Unit 2: 1000
- Rent Unit 2: $2,100.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 1
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Square Feet Unit 3: 700
- Rent Unit 3: $1,800.00
- Bedrooms Unit 3: 2
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 2
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Square Feet Unit 4: 700
- Rent Unit 4: $1,795.00
- Bedrooms Unit 4: 2
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 3
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Square Feet Unit 5: 450
- Rent Unit 5: $1,595.00
- Bedrooms Unit 5: 1
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 4
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: true
- Square Feet Unit 6: 650
- Rent Unit 6: $1,800.00
- Bedrooms Unit 6: 2
- Bathrooms Unit 6: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 3794.0
- Leasable Area Units: Square Feet
Property History for 627 West Mercer Place
| 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 627 West Mercer Place
Taxable ValueLand$1,021,000Additions$266,000Total$1,287,000
Tax Record2022$10,827 ($902 / month)
Home Facts
Total Finished SqFt2,344 SqFtAbove Ground SqFt2,344 SqFtStories2Lot Size3,003 SqFtStyleMulti-Family Dwelling (2-4)Year Built1931Year Renovated1991ZoningMR (M)CountyKINGAPN387990-1760
Schools near 627 West Mercer Place
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 - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Hay Elementary School PublicK to 5 | ||
Mcclure Middle School Public6 to 8 | ||
Lincoln High School Public9 to 12 | ||
The Center 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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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.
