441 NE Alder Street Unit #1 & 2, Issaquah, WA 98027
- $1,500,000
- 3,160
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $1,500,000
- Status
- ACTIVE
- MLS#
- 2179900
- Days on Market
- 16
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 3,160
- Area Total SqFt
- 3160
- Annual Tax Ammount
- 10882
- Lot Size (sq ft)
- 6,350
- Sewer
- Sewer Connected
Property Description
A rare opportunity to acquire two adjacent townhome condominium units in Issaquah's Olde Town, where vibrant eateries, theatre, parks, trailheads are more are a short stroll away. This property is now available for sale for the first time in over two decades. Each well-maintained unit boasts an ideal 3-bedrooms and 2.25-bathromm layout over a spacious 1,580 square feet of living space, ideal for anyone who is drawn to Issaquah, one of the most sought-after submarkets. While the property is profitable in its current operations, new owner can increase cash flow by lifting rents to market and enjoy greater appreciation in property value by selling each condominium unit individually to homebuyers at a later time.
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Additional Information
- List Date
- 2023-11-14 16:15:10
- Community
- Downtown Issaquah
- Net Operating Income
- $43,233
- Gross Adjusted Income
- $65,685
- Gross Scheduled Income
- $65,685
- Total Monthly Income
- $5,295
- Insurance Expenses
- $682
- Gross Rent Multiplier
- 22
- Total Expenses
- $22,452
- Cap Rate
- 2.9
- Total Number of Units
- 2
- Unit Name
- 441
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1998
- Roof
- Composition
- Site Features
- High Speed Internet, Patio
- Other Expenses
- 10888
- Energy Source
- Electric, Natural Gas
- School District
- Issaquah
- Elementary School
- Clark Elem
- Middle School
- Issaquah Mid
- High School
- Issaquah High
- Total Monthly Income
- $5,295
- Gross Scheduled Income
- $65,685
- Gross Adjusted Income
- $65,685
- Tax Year
- 2023
- Insurance Expense
- $682
- Total Expenses
- $22,452
- Net Operating Income
- $43,233
- Gross Rent Multiplier
- 22
- Cap Rate
- 2.9
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