130 SW 184th St, Normandy Park, WA 98166

$1,545,000
5,760
SqFt

Listing courtesy of Paragon Real Estate Advisors.

List Price
$1,545,000
Status
ACTIVE
MLS#
1399634
Days on Market
75
Style
55 - 5-9 Units
Finished SqFt
5,760
Lot Size (sq ft)
11,916

Property Description

Charming and well-maintained 8-unit apartment community is located in the quiet residential area of Normandy Park. The Furlani Apartments offers an investor the opportunity to acquire a well-located, easy to manage apartment community with income upside and potential to add value. The buyer can take advantage of a strong, rising rental market while increasing rents to market levels and charging for utilities and will reap the rewards of immediate upside and long-term appreciation.

Additional Information

List Date
2019-01-10 00:00:00
Community
Normandy Park
Property Type
MULT
Units
8
Stories
2
Potential Terms
Cash Out
Year Built
1967
Total Parking
15
Uncovered Parking
15
Exterior
Wood, Wood Products
Roof
Flat
School District
Highline
Total Monthly Income
$10,030
Gross Scheduled Income
$120,360
Vacancy Rate
4
Gross Adjusted Income
$115,546
Annual Taxes
$13,605
Tax Year
2018
Insurance Expense
$3,782
W/S/G Expenses
$9,200
Total Expenses
$44,387
Net Operating Income
$71,158
Gross Rent Multiplier
12
Cap Rate
4

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Size
600
Unit 1 Rent
$800
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
740
Unit 2 Rent
$1,350
Unit 3 Beds
2
Unit 3 Baths
1.00
Unit 3 Size
740
Unit 3 Rent
$1,375
Unit 4 Beds
2
Unit 4 Baths
1.00
Unit 4 Size
740
Unit 4 Rent
$1,275
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
740
Unit 5 Rent
$1,050
Unit 6 Beds
2
Unit 6 Baths
1.00
Unit 6 Size
740
Unit 6 Rent
$1,375
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