936 N 198th Street, Shoreline, WA 98133

Active

936 N 198th Street, Shoreline, WA 98133


Courtesy of: David W. Petersen | Paragon Real Estate Advisors
$3,000,000 Shoreline, WA 98133
  • 0.41 Acres
  • King County

Key Features

  • MLS ID: NWM2015073
  • Year Build: 1962
  • Status: Active
  • Property Type: Residential Income
  • Area: 715 - Richmond Beach/S
  • Exterior: ["Wood"]
  • Address: 936 N 198th Street , Shoreline, WA 98133
  • City: Shoreline
  • State: WA
  • Zip: 98133
  • County: King

Description

The Encore Apartments offers a new investor a great value add opportunity in a landlord friendly city. A new investor over time can also renovate units upon turnover and modernize each unit with stainless steel appliances, granite/quartz counters, new cabinets etc. In current condition, a new investor can raise rents and get this building to a 5.94% CAP Rate. If they decided to fully renovate each unit, a new investor could get to a 6.59% CAP Rate.

Property Map

From Downtown Seattle, get on I-5 Express N from Marion St, 6th Ave and Olive Way. Follow I-5 Express N and I-5 N to NE 175th St in Shoreline. Take exit 176 from I-5 N. Follow NE 175th St.

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