Bought with Skyline Properties, Inc.
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22805 30th AVE S Des Moines, WA 98198
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Key Details
Sold Price $1,685,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,300 sqft
Price per Sqft $230
Subdivision Des Moines
MLS Listing ID 2372108
Sold Date 06/09/25
Style 56 - 10+ Units
Bedrooms 14
Year Built 1968
Annual Tax Amount $21,617
Lot Size 0.386 Acres
Property Sub-Type Multi Family
Property Description
This 11-unit building presents the opportunity to acquire an in-place 6.5% current cap rate with operational up-side to reach a 6.8% proforma cap rate. The Buyer will further have the opportunity to assume the existing loan with an approximate balance of $1,155,000 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 two classic and one renovated 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.
Location
State WA
County King
Area 120 - Des Moines/Redondo
Interior
Fireplace false
Exterior
Exterior Feature Brick, Wood
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Highline
Others
Senior Community No
Acceptable Financing Assumable, Cash Out, Conventional
Listing Terms Assumable, Cash Out, Conventional
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