FORECLOSUREBANK OWNED
Listed by Gabe Blake, Blake Investment Advisors, (206) 618-2207
Local Information
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Description
An opportunity for an investor to acquire an existing triplex zoned NR3, offering the ability to build a 1,000-square-foot DADU on the west side of the lot, increasing the stabilized cap rate to 9.28%. Current operations at the North Admiral Triplex produce an average monthly rent of $1,617 per unit. This submarket can support a higher rent of $2,550 per unit. A new buyer can realize this upside on the Triplex by fully renovating each unit and installing washers and dryers in the apartments, with a proposed cost of $150,000. The proposed ADU (buyer to verify feasibility) can achieve a rent of $3,600 and the proposed cost to construct is $350,000. Upon completion of the DADU, the new income stream equates to a 9.28% Capitalization Rate.
Home Highlights
Parking
3 Parking Spaces
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago
Last check for updates: 1 day ago
Listing courtesy of Gabe Blake
Blake Investment Advisors
Joshua Blake
Blake Investment Advisors
Source: NWMLS, MLS#2133436
Home Details for 4511 SW Lander Street
Active Status |
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MLS Status: Active |
Interior Features |
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Beds & Baths Number of Bedrooms: 6Number of Bathrooms: 3 |
Heating & Cooling Heating: Forced AirHas CoolingAir Conditioning: Forced AirHas HeatingHeating Fuel: Forced Air |
Fireplace & Spa No Fireplace |
Levels, Entrance, & Accessibility Number of Stories: 2 |
View No View |
Exterior Features |
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Exterior Home Features Roof: Composition |
Parking & Garage Number of Covered Spaces: 3No CarportNo Open ParkingParking Spaces: 3 |
Frontage Not on Waterfront |
Water & Sewer Sewer: Sewer Connected |
Farm & Range Does Not Include Irrigation Water Rights |
Surface & Elevation Elevation Units: Feet |
Days on Market |
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Days on Market: 180+ |
Property Information |
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Year Built Year Built: 1910 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: TriplexStructure Type: TriplexArchitecture: Triplex |
Building Construction Materials: Wood Siding, Wood Products |
Property Information Usage of Home: ResidentialParcel Number: 9276202420 |
Price & Status |
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Price List Price: $1,235,000 |
Status Change & Dates Possession Timing: Close Of Escrow |
Location |
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Direction & Address City: SeattleCommunity: North Admiral |
School Information Elementary School: LafayetteJr High / Middle School: Madison MidHigh School: West Seattle HighHigh School District: Seattle |
Agent Information |
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Listing Agent Listing ID: 2133436 |
Community |
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Not Senior CommunityUnits in Building: 3 |
HOA |
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HOA Fee: No HOA Fee |
Lot Information |
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Lot Area: 5401.44 sqft |
Listing Info |
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Special Conditions: Real Estate Owned, Standard |
Offer |
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Listing Terms: Conventional |
Compensation |
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Buyer Agency Commission: 2.5Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Miscellaneous |
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Mls Number: 2133436Offer Review: Seller intends to review offers upon receipt |
Additional Information |
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Mlg Can ViewMlg Can Use: IDX, VOW, BO |
Price History for 4511 SW Lander Street
| Date | Price | Event | Source |
|---|---|---|---|
| 12/05/2018 | $999,000 | Listed For Sale | Agent Provided |
| 12/04/2018 | $916,000 | Sold | NWMLS #1331923 |
| 10/21/2018 | $999,000 | Pending | Agent Provided |
| 08/29/2018 | $999,000 | PriceChange | Agent Provided |
| 07/19/2018 | $1,051,200 | Listed For Sale | Agent Provided |
| 04/15/2016 | $550,000 | Sold | NWMLS #875056 |
| 03/28/2016 | $590,000 | Pending | Agent Provided |
| 02/13/2016 | $590,000 | PriceChange | Agent Provided |
| 02/03/2016 | $625,000 | PriceChange | Agent Provided |
| 12/12/2015 | $675,000 | Listed For Sale | Agent Provided |
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Property Taxes and Assessment
| Year | 2023 |
|---|---|
| Tax | $8,663 |
| Assessment | $879,000 |
Home facts updated by county records
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Admiral
- Larry Ballesteros
- Resident
- 1mo ago
"Great views, 670 steps from the water to my front door. Great neighborhood and restaurant friendly. It gets noisy in the summer on Alki avenue "
- Trulia User
- Resident
- 10mo ago
"we have a Fremont market with vegetables and fruits every Saturday. and, we also have garage sales every weekend."
- Trulia User
- Resident
- 10mo ago
"spring line apartments are faulty. I would never recommend anybody renting from this apartment complex over on California avenue Southwest and West Seattle "
- Trulia User
- Resident
- 1y ago
"Public transportation is good I am retired, but I find when the bridge reopen, private transportation will be great."
- Trulia User
- Resident
- 2y ago
"Dogs seem welcome here and there are a lot of people with their dogs running and walking on the Alki trail"
- Trulia User
- Resident
- 2y ago
"Nice community, lots of children running around in the neighborhood. Drivers are slow and conscientious of the kids playing. "
- Celeste K.
- Resident
- 3y ago
"It’s a nice place for kids. Lots of places for them to walk to when old enough. Schools are decent. "
- Larry L.
- Resident
- 3y ago
"Lots of dogs. Great walking neighborhood but no dog park. There are also a variety of pet shops and veterinarians nearby."
- Ruth R.
- Resident
- 3y ago
"The neighborhood has good public schools, lots of restaurants and local stores, and a great park system for families. The Alki Beach is a real hangout for all Seattlites."
- Steven G.
- Resident
- 3y ago
"Lots of people out walking dogs. Intermittent no dog bathroom signs on lawns but over all has a friendly welcoming feel towards dog walkers. "
- Ian M.
- Resident
- 4y ago
"Best city views out of any neighborhood and it’s still really affordable. Not super crowded but everyone seems friendly."
- Olisa E.
- Resident
- 4y ago
"Many great stores several parks and a Cistercian’s shopping area with a variety of restaurants for you to go. Close to Aliki and other awesome stops"
- Kearsha
- Resident
- 4y ago
"it is a safe place with not alot of crime. this neighborhood is a popular place for children to play "
- Rosie
- Resident
- 4y ago
"Lovely area and little haven of Seattle. A few blocks from Alki beach. Walk to doctor, dentist, grocery, pharmacy, coffee, sushi, whiskey bars, live music, parks, fine dining, latin food, fusion cuisine, pubs, veterinarian, fitness locations, and so much more! Historic theatre - walk to - and wonderful commitment to historical preservation. Quaint shopping and true to spirit of the Pacific Northwest. "
- Lynnathompson67
- Resident
- 5y ago
"The new 99 tunnel cuts my commute in half approximately 25 minutes to Northgate from West Seattle. Before the tunnel opened my commute was nearly 45 minutes."
- Rosie
- Resident
- 5y ago
"Walking to hair salons, grocery, dental offices, medical, yoga, schools, library, churches, clubs, pubs, coffee, speciality services, lovely views, first responders nearby, vast and varied indoor and outdoor activities all year long....city, territorial, Puget Sound views...beautiful trees...walk and experience historic sites, welcoming community. "
- Monique g. r.
- Resident
- 5y ago
"Tons of parks, sidewalks and other safe areas to walk and play with your dog. Very dog friendly neighborhood in West Seattle!"
- Wild25ten
- Resident
- 5y ago
"I have lived for three months. Neighbors are on average friendly and some are reserved. The area is very safe, walkable, beautiful with great amenities to walk to and stroll down to Alki Beach. "
- Jacob R.
- Resident
- 5y ago
"The views of Puget Sound and the Olympic mountains, from up on the hill above Alki beach in the North Admiral area, are some of the best views that I've ever seen in my life!"
- Kayocho_22
- Resident
- 5y ago
"What used to make it unique was that it was quiet, but now it’s overcrowded. Constant construction noise from tear-downs and new construction. "
- Antonio C.
- Resident
- 6y ago
"Best views of seattle, extremely gay friendly, quick to down town and quick ride to the air port. Lots of good restaurants "
- Torib
- Resident
- 7y ago
"I've been in a small locally owned apartment here for 2 years and have loved every second. The bus stops are incredibly close, and I have everything within walking distance -- my yoga studio, two grocery stores, any coffee shop, hair stylist, etc, etc. I feel safe on my evening runs and continuously bump into the same people. Everyone is smiling and friendly because most of this neighborhood has been here for decades -- they all know each other so you really feel like you're part of a community. Straight shot to the bridge and 10 minutes to downtown -- it's the perfect suburb in city living."
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Gabe Blake, Blake Investment Advisors
Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2024. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. © 2024 NWMLS. All rights are reserved. Disclaimer: The information contained in this listing has not been verified by Zillow, Inc. and should be verified by the buyer. Some IDX listings have been excluded from this website.