Devoe is a charming 19-unit value-add apartment with proven rent upside. Current ownership has renovated 6 of the 17 residential units and is averaging an 85% increase over previous in-place rents. Recent capital improvements include new roof, new central boilers, vinyl windows, and electrical and plumbing upgrades. Attractively priced a $289,000 per unit and a 5.9% cap rate upon stabilization.
Sold
Listed by:
Winslow Thomas Lee,
Kidder Mathews
$4,950,000
5234 University Way NE, Seattle, WA 98105
--beds
--baths
11,500sqft
Multi Family
Built in 1928
-- sqft lot
$-- Zestimate®
$430/sqft
$2,175 Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: September 05, 2024 at 05:45am
Offers reviewed: Aug 04
Listed by:
Winslow Thomas Lee,
Kidder Mathews
Bought with:
Winslow Thomas Lee
Kidder Mathews
Source: NWMLS,MLS#: 1970616
Facts & features
Interior
Heating
- Has Heating (Unspecified Type)
Features
- Flooring: Hardwood, Vinyl, Carpet
- Has fireplace: No
Interior area
- Total structure area: 11,500
- Total interior livable area: 11,500 sqft
Property
Features
- Patio & porch: Hardwood, Wall to Wall Carpet
- Has view: Yes
- View description: City, Lake, Territorial
- Has water view: Yes
- Water view: Lake
Lot
- Size: 4,647 sqft
- Dimensions: 4650
- Features: Curbs, Paved, Sidewalk, Value In Land
Details
- Parcel number: 8816400645
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick, Wood Products
- Foundation: Poured Concrete
- Roof: Torch Down
Condition
- Good
- Year built: 1928
- Major remodel year: 1928
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: PSE
- Water: Public, Company: PSE
- Utilities for property: Sewer Connected, Electric
Community & neighborhood
Location
- Region: Seattle
- Subdivision: University District
Other
Other facts
- Listing terms: Cash Out,Conventional
- Cumulative days on market: 912 days