550 Madison Ave N

    Bainbridge Island, WA 98110
    • $1,200,000
    • STATUS: Pending
    • ON SITE: 26 days
    • ID#: 1466127
    Under Contract
    UPDATED: 22 min ago
    $1,200,000
    • 0
      BEDS
    • 0.72
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,464
      SQFT
    • $127
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:
    Listing Courtesy of John L. Scott, Inc..

    Description

    13 UNIT APARTMENT COMPLEX (10 - 1 BEDROOM UNITS & 3 - 2 BEDROOM UNITS) IN THE HEART OF BAINBRIDGE ISLAND - RENTS ARE BELOW MARKET DUE TO GRANTS/SUBSIDIES, WHICH EXPIRE IN JULY AND WILL THEN ALLOW THE NEW OWNER TO INCREASE RENTS TO CURRENT MARKET - IDEAL FOR A CONTRACTOR WHO WANTS TO BUILD A HUGE AMOUNT OF SWEAT EQUITY - PAVED, OFF-STREET PARKING - VERY CLOSE TO DOWNTOWN BAINBRIDGE ISLAND AND ALL STORES, SHOPS & SEATTLE FERRY.

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    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than The Snow Group at Keller Williams North Seattle are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-06-26T12:16:24.573.

    www.jeffsnowgroup.com/homes/95337887

    550 Madison Ave N Bainbridge Island, WA 98110

    • Price: $1,200,000
    • Status: Pending
    • Updated: 22 min ago
    • ID#: 1466127
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.72
    Acres
    9,464
    SQFT
    $127
    $/SQFT
    1972
    Built
    Neighborhood:
    Bainbridge Island
    County:
    Kitsap
    Area:
    Bainbridge Island
    Elementary School:
    Buyer To Verify
    Middle School:
    Buyer To Verify
    High School:
    Bainbridge Isl
    School District:
    Bainbridge Island
    Property Description
    13 UNIT APARTMENT COMPLEX (10 - 1 BEDROOM UNITS & 3 - 2 BEDROOM UNITS) IN THE HEART OF BAINBRIDGE ISLAND - RENTS ARE BELOW MARKET DUE TO GRANTS/SUBSIDIES, WHICH EXPIRE IN JULY AND WILL THEN ALLOW THE NEW OWNER TO INCREASE RENTS TO CURRENT MARKET - IDEAL FOR A CONTRACTOR WHO WANTS TO BUILD A HUGE AMOUNT OF SWEAT EQUITY - PAVED, OFF-STREET PARKING - VERY CLOSE TO DOWNTOWN BAINBRIDGE ISLAND AND ALL STORES, SHOPS & SEATTLE FERRY.
    Exterior Features

    Building Condition Fair Carport Spaces 0 Exterior Wood Foundation Slab Garage Spaces 0 Lot Details CurbsPaved Street Lot Dimensions 174X180 Roof Composition Stories In Building 2 Style 56 - 6-9 Units Total Parking Spaces 20 Uncovered Spaces 20

    Interior Features

    Floor Covering VinylWall to Wall Carpet Heating And Cooling Baseboard Unit1 Bathrooms 0.00 Unit1 Bedrooms 0 Unit1 Fireplaces 0 Unit1 Sq Ft 0 Unit2 Bathrooms 0.00 Unit2 Bedrooms 0 Unit2 Fireplaces 0 Unit2 Sq Ft 0 Unit3 Bathrooms 0.00 Unit3 Bedrooms 0 Unit3 Fireplaces 0 Unit3 Sq Ft 0 Unit4 Bathrooms 0.00 Unit4 Bedrooms 0 Unit4 Fireplaces 0 Unit4 Sq Ft 0 Unit5 Bathrooms 0.00 Unit5 Bedrooms 0 Unit5 Fireplaces 0 Unit5 Sq Ft 0 Unit6 Bathrooms 0.00 Unit6 Bedrooms 0 Unit6 Fireplaces 0 Unit6 Sq Ft 0 Units Below Grade N

    Property Features

    Bank Owned No Cap Rate 3.00 Electrical Expenses 1440 Energy Source Electric EPSEnergy 0 Form17 Provided General Zoning Classification Residential Gross Adjusted Income 109308 Gross Rent Multiplier 11 Gross Scheduled Income 109308 Heating Expenses 0 Hers Index 0 Home Owner Dues 0 Insurance Expenses 1588 Leased Items None Net Operating Income 33446 New Construction YN No Other Expenses 58242 Possession Sub. Tenant's Rights Power Company Pse Right Of First Refusal No Septic Approved For Number Of Bedrooms 0 Sewer Sewer Connected Sewer Company City Site Features OutbuildingsPatio Tax Amount 0 Tax Year 2019 Terms Cash OutConventional Third Party Approval Required Other - See Remarks Total Expenses EXP 75862 Total Expenses TEX 75862 Total Monthly Income 9109 Unit1 Monthly Rent 0 Unit2 Monthly Rent 0 Unit3 Monthly Rent 0 Unit4 Monthly Rent 0 Unit5 Monthly Rent 0 Unit6 Monthly Rent 0 Vacancy Rate 0 Water Company City Water Sewer Garbage 14592 Water Source Public Zoning Jurisdiction City

    Listing information © 2019 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by The Snow Group at Keller Williams North Seattle and should be verified by the buyer.


    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than The Snow Group at Keller Williams North Seattle are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2019-06-26T12:16:24.573.

     
    The Snow Group at Keller Williams North Seattle
    10700 Meridian Ave N, Suite 504
    Seattle WA, 98133
    Listing Courtesy of John L. Scott, Inc..