5 2 1 4 3 5 th A v e n u e S o u t h / S e a t t l e
ARK LODGE CINEMA COLUMBIA CITY FARMERS MARKET
PCC EMPIRE ESPRESSO
COLUMBIA CITY BAKERY
PA G L I A C C I P I Z Z A
BILLIARD HOANG
SUPER SIX
LEMS BOOKSTORE F LY I N G L I O N B R E W I N G
T U T TA B E L L A N E A P O L I TA N P I Z Z E R I A
BUA 9 THAI CUISINE KEZIRA ERITREAN/ETHIOPIAN
F U L L T I LT I C E C R E A M
SAM CHOY’S POKE TO THE MAX
5 2 1 4 3 5 T H AV E N U E S O U T H | S E AT T L E
S E AT T L E P U B L I C L I B R A R Y
COLUMBIA CITY DUPLEX opportunity knocks in a prime locale...
Calling all investors! Set in the heart of Columbia City, this tastefully remodeled duplex is just steps from the light rail station, shops and parks. Both units shine with newer kitchens and bathrooms featuring slab quartz surfaces and high-end cabinetry. Stainless steel appliances and hardwood-style flooring lend an upscale feel. Encompassing three stories, this property includes an 1,840 square foot / 4-bedroom / 2-bath upper unit with covered deck off the master, plus an 1,100 square foot / 4-bedroom / 2-bath lower unit with patio area. In-unit washer/dryer duos, a fenced yard, storage and ample parking provide ultimate convenience.
ADDRESS: 5214 35th Ave S | Seattle WA, 98118 PRICE: $1,100,000 PRICE PER BUILDING FOOT:
$374.15
PRICE PER LOT FOOT:
$211.54
CAP RATE: 5.5% GROSS SCHEDULED INCOME:
$72,300
COLUMBIA CITY Columbia City is a neighborhood located in the southeastern part of Seattle, Washington in the Rainier Valley district. It has a landmark-protected historic business district and is one of the few Seattle neighborhoods with a long history of ethnic and income diversity. The neighborhood’s main thoroughfares running north–south are Rainier Avenue S. and Martin Luther King Jr. Way S. The principal east–west thoroughfares are S. Alaska Street and S. Genesee Street. Mass transit includes Sound Transit’s Central Link light rail service from the Columbia City station (approx. 15 minutes to downtown Seattle and 20 minutes to SeaTac airport). Today, the thriving pedestrian business district along Rainier Avenue S. is home to bars, grocery stores, a number of restaurants, bakeries, coffee shops, assorted retail, an art gallery, fitness facilities, a fraternal clubhouse, a movie theater, and multiple live music venues. Housing stock include craftsman bungalows, a mix of market-rate and lowincome apartment buildings, and townhome developments. Community estimates have put the number of new homes in the planning pipeline as numbering at least 1,500. Many of these developments are in formerly vacant lots. Train service at the neighborhood’s Link Light Rail station began in July 2009, connecting the neighborhood to both SeaTac airport and Downtown Seattle. Rainier Vista, once a post-war suburban public housing project, has been redeveloped into a mixed-use, mixed income community built around the light rail station, and includes more than 900 new homes.
Population 13,924
Median Household Income
Renter-Occupied Housing
$59,374
13,924
ARK LODGE CINEMA COLUMBIA CITY FARMERS MARKET
PCC EMPIRE ESPRESSO
COLUMBIA CITY BAKERY
PA G L I A C C I P I Z Z A
BILLIARD HOANG
SUPER SIX
LEMS BOOKSTORE F LY I N G L I O N B R E W I N G
T U T TA B E L L A N E A P O L I TA N P I Z Z E R I A
BUA 9 THAI CUISINE KEZIRA ERITREAN/ETHIOPIAN
LIGHT RAIL F U L L T I LT I C E C R E A M
SAM CHOY’S POKE TO THE MAX
5 2 1 4 3 5 T H AV E N U E S O U T H | S E AT T L E
S E AT T L E P U B L I C L I B R A R Y
INCOME AND EXPENSES A C T U A L A N N U A L I Z E D O P E R AT I N G D ATA
UNITS
2
PRICE
YEAR BUILT
1919
PER SQ FT $374.15
RENTABLE AREA
2940
GRM
15.91
LESS VACANCY (2%) $1,446
DOWN PMT
330,000
CAP
5.5%
GROSS OPERATING INCOME
LOAN AMOUNT
770,000
LESS EXPENSES $10,378
INTEREST RATE
3.75%
NET OPERATING INCOME $60,476
AMORTIZATION
30 years
ANNUAL DEBT SERVICE $42,792
$1,100,000
UNITS
SCHEDULED GROSS INCOME
$72,300
$70,854
CASH FLOW BEFORE TAX
$17,684
RETURN ON INVESTMENT
9.65%
CASH ON CASH RETURN
5.36%
MAIN UNIT
4BD/2BTH
1100 SQ FT
$2900 Monthly Rent
ADU
4BD/2BTH
1840 SQ FT
$3125 Monthly Rent
ACTUAL ANNUALIZED OPERATING EXPENSES
TOTAL
8BD/4BTH
2940 SQ FT
$6025 Monthly Total Rent
RE TAXES $6,378 INSURANCE $1,400
M O N T H LY I N C O M E GROSS POTENTIAL RENT
$6025 Monthly Rent
GROSS POTENTIAL INCOME
$6025
UTILITIES $2,600 TOTAL EXPENSES $10,378
H O M E C O M PA R A B L E S 1 5114 35TH AVE S Seattle, Wa 98118 YEAR BUILT 1919 SQUARE FEET 2940 PRICE $1,100,000 GS SCHD INCOME $72,300 BD/BTH 8/4 8322 WABASH AVE S Seattle, Wa 98118 YEAR BUILT 1958 SQUARE FEET 3740 PRICE $775,000 GS SCHD INC $58,200 BD/BTH 7/5
2
3
4
3315 S BRANDON ST Seattle, Wa 98118 YEAR BUILT 1954 SQUARE FEET 2880 PRICE $750,000 GS SCHD INC $45,600 BD/BTH 4/4
5
2515 16TH AVE S Seattle, Wa 98144 YEAR BUILT 1914 SQUARE FEET 3230 PRICE $902,000 GS SCHD INC $54,000 BD/BTH 4/2
6
5107 42ND AVE S Seattle, Wa 98118 YEAR BUILT 1959 SQUARE FEET 2550 PRICE $725,000 GS SCHD INC $34,800 BD/BTH 6/3
7
3202 19TH AVE S Seattle, Wa 98144 YEAR BUILT 1917 SQUARE FEET 3680 PRICE $1,050,000 GS SCHD INC $38,700 BD/BTH 6/3
3903 S HUDSON ST Seattle, Wa 98118 YEAR BUILT 1925 SQUARE FEET 3120 PRICE $890,000 GS SCHD INC $30,600 BD/BTH 5/3
5
7
2 4
3 1
6
All information contained herein is supplied by the seller to the best of his/her knowledge, but is subject to verification by the purchaser, and the broker assumes no responsibility for the correctness thereof.