NORDIC POINTE
A 21 unit multifamily investment property, soon-to-be known as “Nordic Pointe” apartment building. A premier rental submarkets of Seattle, the Magnolia neighborhood draws tenancy from several stable and lucrative industries that have defined Seattle in recent years. As an epicenter of bustling nightlife, unique eateries, and seamless access to Downtown Seattle, Queen Anne, and Fremont, Magnolia continues to be a coveted residential locale commanding some of the highest rental rates in Seattle.
Take advantage of this opportunity to participate in a well-maintained asset in a desirable core Seattle neighborhood that is fully turn key with washers and dryers in unit and parking garage for under $260K a unit.
| NAME | Nordic Pointe |
|---|---|
| ADDRESS | 3630 22nd Ave W, Seattle, WA 98199 |
| TOTAL UNITS | 21 Total |
| BUILT | 1990 |
| SQUARE FEET | 12,873 Net Rentable |
| PRICE | $5,425,000 |
| PRICE PER UNIT | $258,333 |
| PRICE PER FOOT | $421.42 |
| Going in CAP | 5.46% |
| MARKET - IRR/CAP | 18.8/6.0% |
| LOT INFORMATION | 9,875 Square Feet Zoned LR3 |
