8716 Sand Point Way NE Unit #1-14, Seattle, WA 98115

$6,500,000
11,105
SqFt

Listing courtesy of Kidder Mathews.

List Price
$6,500,000
Status
ACTIVE
MLS#
2242346
Days on Market
55
Style
56 - 10+ Units
Finished SqFt
11,105
Area Total SqFt
11105
Annual Tax Ammount
57069
Lot Size (sq ft)
47,260
Sewer
Sewer Connected

Property Description

Positioned on the western shore of Lake Washington in the desirable Matthews Beach neighborhood just steps from the Burke-Gilman trail and a short walk from Matthews Beach, Beach Club Cottages is a 14-unit multifamily community comprised of 6 buildings on two adjacent parcels. Boasting lake frontage, direct beach access, boat slips, garage and off-street parking, and fully renovated, luxury units, this property is a high-quality asset that should provide nearly 0% vacancy and will appeal to both apartment and owner-occupant investors.

Additional Information

List Date
2024-05-23 22:32:13
Community
Matthews Beach
Net Operating Income
$268,561
Gross Adjusted Income
$408,373
Gross Scheduled Income
$419,671
Total Monthly Income
$34,973
Insurance Expenses
$10,294
Water/Sewer/Garbage Expenses
$18,473
Gross Rent Multiplier
15.5
Total Expenses
$139,812
Cap Rate
4.1
Vacancy Rate
2
Total Number of Units
14
Unit Name
8716
Potential Terms
Cash Out, Conventional
Year Built
1920
Waterfront
Yes
View
Lake, Mountain(s), Territorial
Roof
Composition, Torch Down
Site Features
Deck, Dock, Electric Car Charging, Fenced-Partially
Other Expenses
53976
Energy Source
Electric
School District
Seattle
Elementary School
View Ridge
Middle School
Eckstein Mid
High School
Nathan Hale High
Total Monthly Income
$34,973
Gross Scheduled Income
$419,671
Vacancy Rate
2
Gross Adjusted Income
$408,373
Tax Year
2024
Insurance Expense
$10,294
W/S/G Expenses
$18,473
Total Expenses
$139,812
Net Operating Income
$268,561
Gross Rent Multiplier
15.5
Cap Rate
4.1
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