Neighborhood: Rainier Beach, 380 - Southeast Seattle
STABILIZED DUPLEX W/ ADDITIONAL LAND... FINAL PERMITS IN HAND! Renovated duplex w/ stable cash flow AND fully permitted for two townhomes! Located in Opportunity Zone for tax benefits. Existing duplex fully renovated with long term tenants; no vacancy/turnover or rent loss in over 3 years. Main level (Unit A) features 4BR 2BA. Upper (Unit B) features 2BR 1BA. Both units have kitchens w/ stainless steel appliances, quartz countertops & W/D. Additional land is in rear of lot. Final permits received from City of Seattle to build two 4BR townhomes for added value. Pricing is derived from a 6.0% cap rate on existing duplex, plus $75K entitled land value for each of the townhouse units. No delay waiting for permits, build now to unlock value!