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Listed by:Paragon Real Estate Advisors • Ben Douglas
$ 3,250,000
Est. payment /mo
New
14020 SE 8th ST Bellevue, WA 98007
12 Beds
12 Baths
5,364 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,364 sqft
Price per Sqft $605
Subdivision Lake Hills
MLS Listing ID 2527294
Style 55 - 5-9 Units
Bedrooms 12
Year Built 1987
Annual Tax Amount $14,615
Lot Size 0.310 Acres
Property Sub-Type Multi Family
Property Description
Opportunity for seller financing for qualified buyers and buyers personally guaranteeing the loan. The terms are 30% down, 5% interest-only on a five-year term Built in 1987 and situated on a 13,500 square foot lot zoned R-20, the Bellevue 6-Unit consists of six spacious two-bedroom, two-bathroom units averaging 894 square feet each. Three of the six units have been fully renovated with modern finishes, and the three unrenovated units present a clearly defined path to value through targeted interior upgrades estimated at $30,000 per unit. The property includes 13 dedicated parking spaces, a highly sought-after amenity in the Eastside rental market, and tenants pay their own water and sewer, keeping utility expenses and management complexity low for the ownership. The property's Eastgate location places residents within minutes of Bellevue College, the Eastgate Park and Ride, and Interstate 90. The Bellevue 6-Unit is positioned as a renovation value-add acquisition with an execution plan already partially underway. Renovated units are currently leased at $2,095 to $2,250 per month against a market rate of $2,600 per unit. The three unrenovated units are currently leased at an average of $1,990 per month and are expected to achieve $2,600 following renovation at an estimated cost of $30,000 per unit.
Location
State WA
County King
Area 530 - Bellevue/East Of 405
Interior
Flooring Laminate
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Bellevue
Others
Senior Community No
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
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