Portage Bay Duplex & Auto Garages
3115 Franklin Ave E (3112 Harvard Ave E) ~ $864,000
Sturdy and quirky in the heart of the city, this Grand ’22 Traditional seems to offer several different elements of powerful potential. U.W. landlords often partition more bedrooms for high occupancy, but the existing floor plan is already “formal four bedroom + den, 2 bath, 2020 sq ft” for gracious rental home, or fine personal residence with long established extra incomes. Mr. G. the Garage Guy has operated fully permitted small auto business for decades, Fire Dept inspects yearly, he and his clientele hope for future continuation. L-3 zoning may allow townhouse rowhomes, or simply retain & remodel a great house while subdividing 2nd new lot at 3112 Harvard. Old survey pins in sidewalk (near) 3 of 4 corners, the land slopes to abutting commercial village properties. THE HOUSE. Following 34 years of ownership cosmetic finish materials may seem faded yet clearly built right and still square, pride of ownership evident in upgraded systems and overall very good condition. A 2016 Building Inspection (incl sewer cam, permit history, amateur site plan, etc) is attached to the listing. Main Floor features include: 6 x 6 formal entry hall, Calvetto moldings, classic blue tile fireplace, large trimmed archways and some cityscape water views. This Apt A has 2 bedrooms / 1 bath on main, 3 bedrooms / 1 bath up, and 120 sq ft unfinished basement by large open crawl space. Oil furnace heat is ducted to main & top floors; new electric panel & new wall heaters Apt B per 2009 Permit (Apt’s A & B share 1 elec meter), and those forty year roofing shingles have proven a good choice.
THE GARAGES. In good faith please do not approach/ do not contact garage guy, suggest walk by 11-4pm weekdays, or call your agent. All tenants are aware of the listing so you are welcome to walk into the backyards. North Garage A is 20’ x 20’ - auto bays #’s 1 & 2. Middle Garage B is 17 x 20 - 2 small auto bays #’s 3 & 4. South Garage C is zero lot line net 10 x 20, see shared wall with neighbor, this auto bay #5 is vacant & available. Restoring 8 ft wide garage door for auto bay #1 easily done for $800 - $2400 depending on design, this is a working garage. Auto bay # 4 has extra triangle of floor space; all 5 bays have tall concrete retaining wall east. Garage’s A & B built parallel to Harvard, Garage C built parallel to Franklin. City Fire Dept. re-assigned #3112 Harvard after years as #3120 fyi, aficionados will like 40 foot curb cut. Old Leases have Expired – All spaces, the Garages & Apt A (3 adults) & Apt B (1 adult), are now rented “month to month”. Garage guy has 30 years here, Mr. A1 has 20 years/ works at small nonprofit; Mr. A5 has 12 years/ works nearby; Mr. A2 and Mr. Apt B have similar profiles. (Rooms A3 & A4 are vacant.) The Ness Family is in good communication with residents and will listen to all offers regarding future leases and / or the dates of your full possession.
[email protected] (206) 227-2222
matthewtownsend.withwre.com wre / commercial associate 1986
3115 Franklin Ave E / 3112 Harvard Ave E — $864,000
PRO FORMA 2017
Price 25% Down Loan Income / m. pro forma 25% exp’s pro forma 75% net inc/ m . 4.50% 30 Year Fixed Cash Flow Pay Down Loan / m. Cash Flow 217+873
864,000 216,000 648,000
4,800 -1,200 3,600
-3,283 317 873
1,190
1190 x 12 = 14,280 / 216K DOWN = 6.6% ROI 6.6% Return on Investment
PRO FORMA RENTS 2017
3,200 1,000
600 4,800
Apt A Formal 4-BR + Den @ 2020 sqft Apt B 5 Garage bays
2015 Final Expenses
4,073 788
3,236 1,515 2389
Tax Insurance Water Elec Oil Furnace
Matthew P. Townsend Page 1 of 1Multi-Family Agent Detail Report
Listing # 903787 3115 Franklin (aka 3112 Harvard) Ave E , Seattle 98102 $864,000LP:ActiveSTAT:
LT: BLK: CMTY: Portage Bay
AR: 390
MAP: GRD:
TAX: 1959702925 OLP:
FIN:
LD:
$864,000
03/03/2016
Internet:
XD:
LO:
CLO:
CLA:
LAG:
3.0SOC:
KEY: MLS Keybox, See Remarks
(000) 000-0000
OAD:
NessOWN:
(206) 227-2222PTS:
TenantOTVP: SEE REMARKSOCC:
PTO: Yes F17:
Seattle, WA
OPH:
POS: Closing, Negotiable, Sub. Tenant's Rights
TRM:
DD: From Eastlake ease up north, from
Cap Hill hang on down Harvard, from
Montlake bounce along Boyer – all historic
roads converge by subject near the
Bridge. From I-5 Roanoke Exits go 5
Multi-Family
Yes
Cmnts:
CDOM:Type: 1
Cash Out, Conventional, FHA, VA
Provided
County: King
OMD:
PH:
PH: (206) 526-5544
FAX:
Windermere Real Estate Co. (7192)
Matthew P. Townsend (7208)
PH:
(206) 526-7613 PH Type:
(206) 227-2222
Direct Line
Right of First Refusal: No
WFT:
LakeVEW:
0.112ACR:
1922
LDE: Curbs, Paved Street, Sidewalk
Outbuildings, ShopSIT:
POL:
LSF: 4,900
LSZ: 50 X 86 X 56 X 112ish
52 - Duplex
NOU:
SIB:
UBG:
YBT:
STY:
2
Yes
NC: FND: Poured Concrete
EXT: Wood
RF: Composition, Torch Down
SWR: Sewer Connected
TXY: 2015
2,740SqFt:
GoodBDC:
$4,073TX$: GSI:$29,160
INS$:
WSG$:
ELEX$:
HET$:
OTX$:
TEX$:
$2,389
$3,236
$788
$1,515
$1,482
$13,483
VAC%:
GAI$:
EXP$:
NOI$:
CAP%:
GRM%:
5%
$27,702
$13,483
$14,219
2%
30%
2,620TRSF:
3
AMN:
ZJD:
FLS: Fir/Softwood, Vinyl, Wall to Wall
Carpet
GZC:
HTC: Forced Air, Wall
TSP:NCS:
ENS: Electric, Oil
USP:GSP: 5
Basement, See Remarks
0 0 5
Multi-Family
SWC:
WAS:
WAC:
POC:
SD:
EL:Seattle
Seattle
SH:
JH:Seattle
Seattle
AIN$:
3rd Party Aprvl Req: None
Bank/REO Owned Y/N: No
$400 TIN$: $2,430
LEED:
Standard FrameCnstrct Mthds:
EPS Score:HERS Score:
NWMLS Cert:
Built Green:
Unit #: Beds: Baths:
Rng/Ovn:
SqFt:
Wash/Dry:Dish:
Rent: # Fp:
Yes Refr:
5
Yes
2 2020 $1,230 1A.
Unit #: Beds: Baths:
Rng/Ovn:
SqFt:
Wash/Dry:Dish:
Rent: # Fp:
Yes Refr:
1
Yes
1 600 $800B.
Marketing Remarks: Portage Bay Grand Home/ Legal Duplex/ UW Rooming House/ 2.5 Double Garages sum 47’x 20’= 5
good stabls. Same Owner 34 yrs, L-3 Zone, str 2 str lot, maybe townhouse-rowhouse or save this haus & plat 3112
Harvard. PLEZ do not contact garage guy, has small auto biz permit. Apt B Bsmt 1-BR renovated 2009 permits. Dig east
½ of bsmt for 500 new sqft. Apt A 2020 sqft 5-BR, ez add 2 more BR’s. A Nice Formal Main Flr @ 1420 sqft: 14x22 liv rm,
10x13 dining, big tall kit, ’22 tile fire & all heavy wood.
Information Deemed Reliable But Cannot Be Guaranteed.
Lot Sizes and Square Footage Are Estimates.
03/04/2016 - 7:05AM