6635 Carleton Avenue S in Seattle

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. 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.

This listing is provided courtesy of NWMLS.
Listing Broker: Skyline Properties, Inc.; Amir Rashidi.

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