🏖Waterfront Luxury Duplex Development🤑HUGE SPREAD🤑 Seattle WA‼️

King County, Seattle, WA, 98178 view full address
For Sale
Listed at: November 21st 2022
Price
$1,540,000
ARV
$2,500,000
Spread
$960,000
117 pictures, show all
Sq. Footage
2480
Type
Single Family
Parking
Attached Garage
Year build
1959
Lot size
0.43 acres
Bedrooms
3
Bathrooms
2

If someone buys for this price, no more offers will be accepted

Summary

Take advantage of this RARE opportunity! This property is 💧ON THE WATER💧 and has one of the most beautiful views on the lake. Waterfront properties RARELY become available. DO NOT miss out on this!!

💰 Investment Opportunity 💰

🪛Development - Luxury Duplex

Retail Value: $2.5M(for each duplex unit) x 2 + $1.8M (ADU) = $6.8M

Purchase Price: $1.54M

~Development Details:

Sqft: 18,841 with 82 feet of Lake WA Waterfront

**2700sqft home and a 2500sqft home behind (leaving room for a waterfront yard)

Placement of $325/sqft for all construction and fees excluding soft costs, contingency, and financing expenses which are broken down below:

  • Soft costs $50k gets us plans and permits
  • 5% contingency on construction costs
  • 8% selling cost includes commissions, T&E and Excise taxes
  • Finance expenses total: Estimated $250K

🛠Fix & Flip

Retail Value: $2,300,000

Purchase Price: $1,540,000

Estimated Rehab: $300,000

🏡Property Details

Rehab Level: Moderate (Fix&Flip) - New Build Development (Luxury Duplex)

Construction: Wood frame. Concrete ground floor.

Electrical Panel: 220 Volt single phase. Estimates 150AMP service. Original service panel

HVAC: Gas, forced air. No air conditioning.

Water Heater: Gas

Roof: New roofing material in 2022 consists of Granulated torch down roofing with Fiberglass base sheeting. Underlying original wood roof is 2X6 wood T&G.

Occupancy: Owner occupied


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All feedback is welcome! All reasonable offers will be considered!


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DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with a memorandum has been signed with the Seller. One or more members, directors or employees of Sell Quick for Cash LLC are licensed real estate agents in the state of Arizona with Gentry Real Estate. There is no agency, expressed or implied, between Buyer and Sell Quick for Cash LLC or any of its members, directors or employees. Any attempts to renegotiate or make contact with the owner will result in legal action.

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