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.

matt@windermere.com (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

User2014

Text Box

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