$2,450,000 Price Analysis    ♡   Seattle, WA 98146 Unknown bed None bath 12,560 SqFt ($195/SqFt) 0.43 acre lot. Built 1962 Listed 2024-04-05, Taxes $30,088 | Ⓧ USDA Ineligible due to price & location near Seattle |
The Cameo Apartments is a 15-unit property in Burien with current rents below market presenting an exceptional value-add opportunity on the repositioning of this classic property.
* Sale Pending *Reposition this asset by achieving current market rents or go for it and max ut the investment potential of with a renovation of the units/property at your own pace. There is a mix of newer leases and long-term tenants. More than 50% of the units on MTM lease.
The unit mix of the 15 units is 11 1-bed/1-bath units and 4 2-bed/1-bath units. Located a short distance to SeaTac airport and major employers such as Boeing. The central location & open units make it a promising asset for deploying many different investment strategies. Up & coming area with new homes!
Presented by Julie Clark at
eXp Realty- Main Office.
Property MLS #2218767 from NWMLS
Ceramic Tile
Hardwood
Wall to Wall Carpet
Flooring: Ceramic Tile, Hardwood, Vinyl, Wall to Wall Carpet
Hardwood
Wall to Wall Carpet
Flooring: Ceramic Tile, Hardwood, Vinyl, Wall to Wall Carpet
Heating Features: Baseboard
Heating Fuel: Electric
Heating: Yes
Heating Fuel: Electric
Heating: Yes
Brick
Cement/Concrete
Cement/Concrete
Lot Description: Corner Lot, Paved Street
Lot Size Acres: 0.4253
Lot Size Square Feet: 18525
Lot Size Acres: 0.4253
Lot Size Square Feet: 18525
Open Parking Spaces: 24
Open Parking: Yes
Parking Total: 24
Open Parking: Yes
Parking Total: 24
Coin Op Laundry
Storage
Storage
Elementary School: Buyer To Verify
High School: Buyer To Verify
High School District: Highline
Middle School: Buyer To Verify
High School: Buyer To Verify
High School District: Highline
Middle School: Buyer To Verify
Hazel Valley Elementary School is a public elementary school located approximately 0.5 miles away.
Map directions
Map directionsCascade Middle School is a public middle school located approximately 0.8 miles away.
Map directions
Map directionsHighline High School is a public high school located approximately 1.9 miles away.
Map directions
Map directionsSt. Bernadette School is a private elementary and middle school located approximately 0.1 miles away.
Map directions
Map directionsGross Scheduled Income: 205500
Leasable Area: 11100
Leasable Area Units: Square Feet
Leasable Area: 11100
Leasable Area Units: Square Feet
Number of Units: 15
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Unit-1 Description: 1
Unit-2 Description: 2
Unit-3 Description: 8
Unit-4 Description: 1
Unit-5 Description: 3
Unit-1 Square Feet: 700
Unit-2 Square Feet: 700
Unit-3 Square Feet: 700
Unit-4 Square Feet: 850
Unit-5 Square Feet: 850
Unit 1 Total Actual Rent: 825
Unit 2 Total Actual Rent: 1000
Unit 3 Total Actual Rent: 1200
Unit 4 Total Actual Rent: 1000
Unit 5 Total Actual Rent: 1200
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 2
Bedrooms in Unit-5: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Unit-1 Description: 1
Unit-2 Description: 2
Unit-3 Description: 8
Unit-4 Description: 1
Unit-5 Description: 3
Unit-1 Square Feet: 700
Unit-2 Square Feet: 700
Unit-3 Square Feet: 700
Unit-4 Square Feet: 850
Unit-5 Square Feet: 850
Unit 1 Total Actual Rent: 825
Unit 2 Total Actual Rent: 1000
Unit 3 Total Actual Rent: 1200
Unit 4 Total Actual Rent: 1000
Unit 5 Total Actual Rent: 1200
Calculated Total Monthly Association Fees: 0
Annual Tax Amount: 31252
Source Listing Status: Pending
Country Region: US
County: King
Cap Rate: 4.96
Directions: From Hwy 509 S to the S 128th St exit. Right on S 128th, then right onto Ambaum Blvd SW, then right onto SW 126th St. The propery is on the corner on the south side of the street.
Tax Year: 2024
Other Expense: 18937
Source Property Type: Multi-Family
Insurance Expense: 6188
Area: 130 - Burien/Normandy Park
List Development Name: Burien
Source Neighborhood: Burien
Parcel Number: 3744600835
Street Suffix Modifier: Street
Subdivision: Burien
Source System Name: C2C
Buyer Agent Commission: 2.5
Source Listing Status: Pending
Country Region: US
County: King
Cap Rate: 4.96
Directions: From Hwy 509 S to the S 128th St exit. Right on S 128th, then right onto Ambaum Blvd SW, then right onto SW 126th St. The propery is on the corner on the south side of the street.
Tax Year: 2024
Other Expense: 18937
Source Property Type: Multi-Family
Insurance Expense: 6188
Area: 130 - Burien/Normandy Park
List Development Name: Burien
Source Neighborhood: Burien
Parcel Number: 3744600835
Street Suffix Modifier: Street
Subdivision: Burien
Source System Name: C2C
Buyer Agent Commission: 2.5
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $2,290,400 + $481,600 $2,772,000 | $30,088 |
| 2022 | $2,167,200 + $453,800 $2,621,000 | $32,048 |
| 2021 | $1,963,400 + $444,600 $2,408,000 | $30,522 |
| 2020 | $1,915,500 + $370,500 $2,286,000 | $28,744 |
| 2019 | $1,138,600 + $333,400 $1,472,000 | $17,453 |
| 2018 | $1,088,600 + $296,400 $1,385,000 | $19,540 |
| 2017 | $1,022,000 + $250,000 $1,272,000 | $17,747 |
| 2016 | $897,000 + $250,000 $1,147,000 | $15,552 |
| 2015 | $822,200 + $277,800 $1,100,000 | $15,444 |
| 2014 | $755,200 + $277,800 $1,033,000 | $15,310 |
| 2013 | $801,700 + $259,300 $1,061,000 | $15,848 |
| 2012 | $829,200 + $277,800 $1,107,000 | $15,622 |
| 2011 | $829,200 + $277,800 $1,107,000 | $14,714 |
| 2009 | $952,200 + $277,800 $1,230,000 | $14,259 |
| 2007 | $880,200 + $277,800 $1,158,000 | $14,430 |
Listed 2024-04-05
$2,450,000
NWMLS
Sold 1999-01-11
$678,250
Public Record
Sold 1993-11-15
$500,000
Public Record
Sold 1986-11-05
$490,000
Public Record
Sold 1983-11-30
$450,000
Public Record
$2,450,000
NWMLS
Sold 1999-01-11
$678,250
Public Record
Sold 1993-11-15
$500,000
Public Record
Sold 1986-11-05
$490,000
Public Record
Sold 1983-11-30
$450,000
Public Record
Net Operating Income: 121616
Operating Expense: 73609
Operating Expense: 73609
Power Production Type: Electric
Sewer: Sewer Connected
Water Source: Public
Sewer: Sewer Connected
Water Source: Public
Building Area Total: 12560
Building Area Units: Square Feet
Foundation Details: Slab
Living Area Units: Square Feet
Property Age: 62
Roof: Built-Up, Flat
Building Total Stories: 2
Structure Type: Multi Family
House Style: 10+ Units
Elevation Units: Feet
Building Area Units: Square Feet
Foundation Details: Slab
Living Area Units: Square Feet
Property Age: 62
Roof: Built-Up, Flat
Building Total Stories: 2
Structure Type: Multi Family
House Style: 10+ Units
Elevation Units: Feet
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.