608 Sunset Avenue N, Edmonds, WA 98020

$2,087,500
3,912
SqFt

Listing courtesy of RE/MAX Commercial Services. Selling Office: Seaview Investment Group LLC.

Sold Price
$2,087,500
List Price
$2,180,000
Status
SOLD
MLS#
1507943
Closing Date
Nov 25, 2019
Days on Market
52
Style
53 - Tri-plex
Finished SqFt
3,912
Area Total SqFt
3912
Annual Tax Ammount
13931
Lot Size (sq ft)
11,326
Sewer
Sewer Connected

Property Description

Iconic Midcentury Sunset Ave Property on the waterfront. Beautifully remodeled with deluxe finishes. The rents are under market for pristine property such as this. Never a vacancy due to location. They fill up as fast as they move out (and who moves out...?) Walkable to everything Edmonds has to offer with western views of Puget Sound and the Olympic mountains. Daily sunsets and walks on the beach just steps away. Keep it as a rental or move into a unit.

Additional Information

List Date
2019-10-04 00:00:00
Community
Downtown Edmonds
Net Operating Income
$77,286
Gross Adjusted Income
$97,717
Gross Scheduled Income
$100,740
Total Monthly Income
$8,395
Insurance Expenses
$2,000
Water/Sewer/Garbage Expenses
$3,300
Gross Rent Multiplier
22
Total Expenses
$20,431
Cap Rate
3.4
Vacancy Rate
3
Total Number of Units
3
Unit Name
608
Potential Terms
Cash Out, Conventional
Year Built
1955
Waterfront
Yes
View
Sound
Roof
Composition
Other Expenses
1200
School District
Edmonds
Total Monthly Income
$8,395
Gross Scheduled Income
$100,740
Vacancy Rate
3
Gross Adjusted Income
$97,717
Tax Year
2018
Insurance Expense
$2,000
W/S/G Expenses
$3,300
Total Expenses
$20,431
Net Operating Income
$77,286
Gross Rent Multiplier
22
Cap Rate
3.4
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