21902 - 21918 64th Avenue W, Mountlake Terrace, WA 98043

$11,995,214
40,483
SqFt

Listing courtesy of Pacific Crest. Selling Office: ZNonMember-Office-MLS.

Sold Price
$11,995,214
List Price
$15,500,000
Status
SOLD
MLS#
2028015
Closing Date
May 25, 2023
Days on Market
50
Style
56 - 10+ Units
Finished SqFt
40,483
Area Total SqFt
40483
Annual Tax Ammount
95339
Lot Size (sq ft)
97,138
Sewer
Sewer Connected
Bank Owned
Yes
Offer Review Date
2023-01-25

Property Description

Delta Estates Townhomes is centrally located within walking distance of the Terrace Plaza shopping center situated just a few blocks from the I-5 freeway entrance and less than 5 minutes from the Transit Center which is near completion of the Gateway development project boasting the brand-new Pedestrian Plaza. Express bus routes, quick access to I-5 and the Transit Center provides residents with easy access to the surrounding Seattle and Eastside areas. Landing within the Edmonds School District, Delta Estates is just minutes from the local Elementary and High School. In addition, residents of this neighborhood find themselves within just a few minutes of the local Niles Shrine Golf Course and Lake Ballinger.

Additional Information

List Date
2023-04-05 00:00:00
Community
Mountlake Terrace
Net Operating Income
$732,007
Gross Adjusted Income
$1,046,936
Gross Scheduled Income
$1,084,908
Total Monthly Income
$90,409
Insurance Expenses
$11,310
Water/Sewer/Garbage Expenses
$31,446
Gross Rent Multiplier
14.28
Total Expenses
$314,929
Cap Rate
4.72
Vacancy Rate
4
Total Number of Units
36
Unit Name
21902 - 21918
Potential Terms
Conventional
Year Built
1985
View
See Remarks
Roof
Composition
Site Features
Cable TV, Fenced-Partially, Patio
Electric Expenses
68067
Other Expenses
108767
Energy Source
Electric
School District
Edmonds
Elementary School
Chase Lake Elem
Middle School
College Pl Mid
High School
Edmonds Woodway High
Total Monthly Income
$90,409
Gross Scheduled Income
$1,084,908
Vacancy Rate
4
Gross Adjusted Income
$1,046,936
Tax Year
2022
Insurance Expense
$11,310
W/S/G Expenses
$31,446
Total Expenses
$314,929
Net Operating Income
$732,007
Gross Rent Multiplier
14.28
Cap Rate
4.72
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