2451 Aurora Ave N, Seattle, WA 98109

$2,300,000

Listing courtesy of Keller Williams Downtown Sea. Selling Office: Keller Williams Downtown Sea.

Sold Price
$2,300,000
List Price
$2,300,000
Status
SOLD
MLS#
1537950
Closing Date
Mar 10, 2020
Days on Market
129

Property Description

Hillside Motel - 20 Units in Highly Desirable Queen Anne Neighborhood. 12 Unit Motel - 3,182 SQFT | 8-Plex - 3,582 SQFT | 19,723 SQFT Lot. New MHA Zoning: C1-55 (M) | 3.75 FAR allows for flexible redevelopment options including Multi-Family, Office, Retail, Hotel, Industrial, Etc. Value-Add Opportunity for an investor interested increasing gross revenue through renovations, and reducing expenses through better management. 2019 Actual NOI: $234,393 | Actual Cap Rate: 10.2%.

Additional Information

Community
Queen Anne
Property Type
COMI
Building Condition
['Average']
Style
64 - Hotel/Motel
Year Built
1950
Exterior
Cement/Concrete, Wood
Roof
Composition, Metal
Annual Taxes
$22,156
Tax Year
2019
Potential Terms
Cash Out, Conventional
ENS
Electric
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