401 521 Madrona Way Ne, Bainbridge Island, 98110

Residential Income - Multi-Family For Sale in Bainbridge Island


MLS® #: 1711386
Active, 17 Days on Market

38 Units,Downtown Winslow,Market Cap Rate 4.43%, In place Cap rate 4.27%,demographics comparable to Bellevue, considered to be an ‘A’ submarket outside of Seattle, High end construction built in 2019/20,The currently below-market rent provides the buyer an opportunity to increase income while likely maintaining high occupancy(currently approx.100% occupied)no concessions. Built as condominiums, offering a new owner an alternative exit strategy in the form of selling individual buildings or townhome units. The Walk provide a buyer a low-risk investment with near and long-term growth potential. 6th safest city in Wash State, low utility costs- Zero Energy project with each home designed to be Net Zero energy with low maintenance solar panels.

Listing Office: Sterling Johnston Real Estate.

Essential Information

MLS® #: 1711386
Price: $22,400,000
Acres: 1.12
Year Built: 2019
Type: Residential Income
Sub-Type: Multi-Family
Status: Active


Property Taxes: $152,667

Community Information

Address: 401 521 Madrona Way Ne
Area: 170 - Bainbridge Islan
Subdivision: Bainbridge Island
City: Bainbridge Island
County: Kitsap
State: WA
Zip Code: 98110


# of Stories: 2


Exterior Features: Cement/Concrete,Metal/Vinyl
Foundation: Poured Concrete

School Information

District: Bainbridge Island
Elementary: Buyer To Verify
High: Bainbridge Isl

Additional Information

Days on Market: 17
Cumulative Days on Market: 17

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Listing information last updated on February 25th, 2021 at 7:18pm CST.