540 Front Street S

Multi-Family

540 Front St S, IssaquahWA 98027

Property Details

Location

Address
540 Front St S, IssaquahWA 98027
County
King
Submarket
CBA Issaquah
Parcels
3424069131

Building Size

Building Size
9,590 SF
Residential Space
9,508 SF
Rentable Space
9,508 SF

Building Details

Type
 Multi-Family
Number of Buildings
3
Number of Units
12
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
Building Status
Existing
Floors
2
Elevators
Not present
Year Built
1969
Year Renovated
2017
Sprinklers
Parking (Total Parking, Uncovered Parking)
24 , 24
Parking Ratio
Heated
Yes

Land & Utilities

Land (Acres)
0.66 Acres
Land (SF)
28,750 SF
Zoning
MFH
Lot Depth
Lot Width

Contacts

Current Listings

Property for Sale

$5,500,000
Cap Rate: 3.71%

First time available in 40+ years, this rare, 12 unit apartment property on Front Street in Issaquah sits within a half-mile of all Downtown Issaquah has to offer, making it an ideal place for tenants to call home. Issaquah High School, Issaquah Middle School, and Clark Elementary School are all within one mile. Shopping, dining and outdoor recreation are all extremely close-by. With prominent employment opportunities in Issaquah [Costco Headquarters, Swedish Hospital, Siemens, and Microsoft] as well as easy access to I-90, this property is perfectly situated close to all major employers in the Seattle metro area and attracts well-salaried tenants to this beautiful outdoor paradise.

Three, two-story buildings and 24 parking spaces are nestled among mature trees on 0.66 acres. Two of the buildings each feature four 2 bed, 1 bath apartments and the third building has three, 2 bed, 1 bath units and one 1 bed, 1 bath unit, plus a shared laundry facility. Units range in size from 714 square feet to 810 square feet and have all been recently updated. The property is in Issaquah’s MF-H zone which allows for 29 dwelling units per acre giving a new owner the potential to add more units. Additionally, rents at the property are currently below market rate giving this property immediate upside.

Please do not disturb tenants.

First time available in 40+ years, this rare, 12 unit apartment property on Front Street in Issaquah sits within a half-mile of all Downtown Issaquah has to offer, making it an ideal place for tenants to call home. Issaquah High School, Issaquah Middle School, and Clark Elementary School are all within one mile. Shopping, dining and outdoor recreation are all extremely close-by. With prominent employment opportunities in Issaquah [Costco Headquarters, Swedish Hospital, Siemens, and Microsoft] as well as easy access to I-90, this property is perfectly situated close to all major employers in the Seattle metro area and attracts well-salaried tenants to this beautiful outdoor paradise.

Three, two-story buildings and 24 parking spaces are nestled among mature trees on 0.66 acres. Two of the buildings each feature four 2 bed, 1 bath apartments and the third building has three, 2 bed, 1 bath units and one 1 bed, 1 bath unit, plus a shared laundry facility. Units range in size from 714 square feet to 810 square feet and have all been recently updated. The property is in Issaquah’s MF-H zone which allows for 29 dwelling units per acre giving a new owner the potential to add more units. Additionally, rents at the property are currently below market rate giving this property immediate upside.

Please do not disturb tenants.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

CBA

Source: Commercial Brokers Association (CBA)

More Information

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