Marketing Description:

The North Admiral Triplex, an opportunity for an investor to acquire a three-bedroom, two-bedroom, and one-bedroom apartment complex in the North Admiral submarket, situated in the heart of West Seattle. The unique unit mix consists of 1,300, 900, and 600 square-foot floor plans. The property is positioned just minutes from a plethora of grocery stores, restaurants, bars, parks, and Alki Beach, West Seattle's top attraction. Current in-place operations at the West Seattle Triplex generate $1.74 of income per square foot. This figure is 16.5% lower than the average of comparable asking rents for properties with similar vintage and amenity packages. The average rent across the unit mix totals $1,616 and we have identified that market rent for this type of property exceeds $1990. The path to