22805 30th Avenue S, Des Moines, WA 98198

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22805 30th Avenue S, Des Moines, WA 98198

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Courtesy of: Michael Urquhart | Paragon Real Estate Advisors
$1,995,000 Des Moines, WA 98198
  • 0.39 Acres
  • King County

Key Features

  • MLS ID: 2289656
  • Year Build: 1968
  • Status: Active
  • Property Type: Residential Income
  • Area: 120 - Des Moines/Redondo
  • Exterior: ["Brick","Wood"]
  • Address: 22805 30th Avenue S, Des Moines, WA 98198
  • City: Des Moines
  • State: WA
  • Zip: 98198
  • County: King

Description

This 11-unit building presents the opportunity to acquire an in-place 5.8% current cap rate with operational up-side to reach a 6.7% market cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,170,000 at a 5% interest rate fixed until January 2031. The Vashon Vue consists of four classic and four renovated 1-bedroom/1-bathroom units, each 620 square feet, along with three 2-bedroom/1-bathroom units, each 780 square feet. The renovated units feature LVP flooring, formica countertops, stainless steel appliances, and a tasteful vanity package for the bathrooms.

Property Map

From downtown Seattle, take I-5 S to WA-516 W/Kent Des Moines Rd. Take exit 149 from I-5 S.

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