Description
CPX is pleased to present 7 W Dravus St, an investment offering with strong in-place income and further upside through a variety of value-add and exit strategies. The five-unit asset has a unique unit mix and is located in the sought-after North Queen Anne submarket. The offering consists of two structures built in 1924 and 1999: a single-family house and a fourplex. The property is operating at a true 5% cap rate on in-place income with upside through light renovation. In addition to conventional value-add strategies, there is an opportunity to subdivide the property and separate the two assets(Buyer to verify). This allows a potential buyer to renovate and then sell the single-family home, thus reducing their basis and increasing returns.
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0BEDS
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0.11ACRES
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0BATHS
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01/2 BATHS
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5,850SQFT
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$376$/SQFT
Listing information ©2023 Northwest MLS. Listing courtesy of Cpx Llc.
Sold by .Description
CPX is pleased to present 7 W Dravus St, an investment offering with strong in-place income and further upside through a variety of value-add and exit strategies. The five-unit asset has a unique unit mix and is located in the sought-after North Queen Anne submarket. The offering consists of two structures built in 1924 and 1999: a single-family house and a fourplex. The property is operating at a true 5% cap rate on in-place income with upside through light renovation. In addition to conventional value-add strategies, there is an opportunity to subdivide the property and separate the two assets(Buyer to verify). This allows a potential buyer to renovate and then sell the single-family home, thus reducing their basis and increasing returns.
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 Tribeca NW Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2023-03-31T07:15:47.803. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market". Based on information submitted to the MLS GRID as of 2023-03-31T07:15:47.803. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.