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About the Listing 5353 - 117957
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, Diane Haag, 425-444-8484. 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.
Listing Highlights for 6635 Carleton Ave S
Interior Details
- Bedrooms: 5
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces: 0
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Paved,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: Multi-Family
- Roof: Built-Up
- Others: Wood
- Sewer: Sewer Connected
- Parking Features: Covered
Financial Details
- Tax Amount: $9,024
- Taxes w/Assessments: N/A
- Tax/Property ID: 2734100190
- Tax Year: 2025
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Monthly Payment
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Listing Location
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6635 Carleton Ave S Seattle, WA 98108
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