209 22nd Ave S Seattle, WA 98144

Overview:

• Purchased in August of 2012
• Sold in October of 2013
• Deep value add opportunity in the heart of the Central District
• Successful increase to the value of the property and the surrounding neighborhood.

Financials:

• Purchase Price: $3,665,000
• Cap X into Rehab: $1,985,858
• Total Cost: $5,650,858
• Net Operating Income at time of sale: $473,795
• Performance Cap at time of sale: 8.38%
• Sale Price: $7,775,000
• IRR: 80.39%