6635 Carleton Avenue S, Seattle, WA 98108
- $1,379,000
- 2,910
- SqFt
Listing Broker: Skyline Properties, Inc.; Amir Rashidi; 206-498-2290; amir@gotobuysell.com
- List Price
- $1,379,000
- Status
- ACTIVE
- MLS#
- 2542292
- Price Change
- ▼ $20,000 1791437174
- Days on Market
- 111
- Style
- 54 - 4-Plex
- Finished SqFt
- 2,910
- Area Total SqFt
- 2910
- Annual Tax Ammount
- 9024
- Lot Size (sq ft)
- 3,048
- Sewer
- Sewer Connected
Property Description
Turnkey Georgetown Multifamily Investment with Immediate Income & Upside Excellent opportunity to acquire a stabilized, income-producing four-unit property in the heart of Georgetown. The property consists of one non-conforming studio, two 1-bedroom/1-bathroom units, and one 2-bedroom/1-bathroom unit. All units were renovated approximately five years ago with updated kitchens, hard-surface flooring, modern fixtures, and refreshed finishes, minimizing near-term capital improvement needs. The property has been carefully maintained and provides investors with immediate cash flow plus additional value-add potential. Investment Highlights: * Purchase Price: $1,379,000 * Gross Annual Income: $90,000 * Annual Expenses: $21,204 * NOI: $68,796 * Cap Rate: 5%. Increase the rent and change this to 7.5% * Renovated and well-maintained units * Upside potential through future rent increases * Additional potential income from storage * Seller concession available through CMG Home Loans, subject to lender terms and buyer qualification, Diane Haag, 425-444-8484. With a nearly 5% cap rate, renovated units, and identifiable opportunities to increase revenue, this property offers investors an attractive combination of current cash flow, limited near-term capital needs, and long-term appreciation potential in Seattle’s Georgetown neighborhood.
Additional Information
- List Date
- 2026-06-19 00:28:11
- Community
- Georgetown
- Net Operating Income
- $68,796
- Gross Adjusted Income
- $90,000
- Gross Scheduled Income
- $85,200
- Total Monthly Income
- $7,600
- Insurance Expenses
- $2,180
- Water/Sewer/Garbage Expenses
- $8,000
- Gross Rent Multiplier
- 16.43
- Total Expenses
- $21,204
- Cap Rate
- 5
- Vacancy Rate
- 3
- Total Number of Units
- 4
- Unit Name
- 6635
- Potential Terms
- Cash, Conventional
- Year Built
- 1908
- Roof
- Built-Up
- Other Expenses
- 2000
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $7,600
- Gross Scheduled Income
- $85,200
- Vacancy Rate
- 3
- Gross Adjusted Income
- $90,000
- Tax Year
- 2025
- Insurance Expense
- $2,180
- W/S/G Expenses
- $8,000
- Total Expenses
- $21,204
- Net Operating Income
- $68,796
- Gross Rent Multiplier
- 16.43
- Cap Rate
- 5
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.