- Property Type: retail
Description
6413 Phinney Ave N, Seattle, WA 98103
Retail building & bungalow for sale
Two investment properties on one lot located in the heart of Phinney Ridge! Rudy’s Barbershop has occupied the 836 SF retail storefront for over 23 years and they currently have lease through 6/30/2024 with a five-year option.
There is also a lovingly restored bungalow with hardwood floors, a gas fireplace, a new deck, fully fenced yard, and off-street parking.
Excellent investment with a long-term tenant in place and the opportunity for an owner-user to occupy the second structure or rent it out for maximum cash flow. 3,900 SF lot zoned LR3 RC. Prime location that offers both visibility and privacy!
INVESTMENT HIGHLIGHTS
- Two investment properties on 1 lot in the heart of Phinney Ridge!
- 2nd building is a lovingly restored 2 bd/1 bath bungalow with hardwood floors, a gas fireplace, a private fully fenced yard, and off-street parking
- Good visibility and signage, on a bus line and close to shops, restaurant, Woodland Park Zoo, and Green Lake
- Rudy’s Barbershop has occupied the 836 SF retail storefront for over 23 years & they currently have a lease through 6/30/24 with one 5 year option
- Excellent investment with a long-term tenant in place and the opportunity for an owner-user to occupy the 2nd structure
- Gross Scheduled Income: $66,000; Net Operating Income: $49,172; Cap rate: 5.17%