16566 NE 85th ST Active Save Request In-Person Tour Request Virtual Tour
Redmond,WA 98052
Key Details
Property Type Single Family Home
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Square Footage 2,420 sqft
Price per Sqft $660
Subdivision Downtown Redmond
MLS Listing ID 2332784
Style 32 - Townhouse
Bedrooms 3
Full Baths 3
Year Built 2011
Annual Tax Amount $6,386
Lot Size 1,782 Sqft
Property Sub-Type Residential
Property Description
Prime Investment in Redmond's Tech Hub! This 7-room, townhome-style unit offers a rare opportunity in Redmond's thriving rental market. The property is steps from the Transit Center and future Downtown Redmond Light Rail. Home to Microsoft, Nintendo, and Honeywell, Redmond's high housing costs drive strong rental demand. Recognized for its sustainable design, this fully stabilized asset is priced below replacement cost, offering positive cash flow from Day 1. With plans to add 2 units and a light upgrade program to boost rents by 24%, this is a premier value-add opportunity in a prime location! Great investment opportunity, fully tenant occupied generating $112,000/year in gross rental income and professionally managed.
Location
State WA
County King
Area 550 - Redmond/Carnation
Interior
Flooring Vinyl Plank,Carpet
Exterior
Exterior Feature Brick,Wood,Wood Products
Garage Spaces 2.0
View Y/N Yes
View Territorial
Roof Type Composition
Building
Story Multi/Split
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Buyer To Verify
Middle Schools Buyer To Verify
High Schools Buyer To Verify
School District Lake Washington
Others
Acceptable Financing Cash Out,Conventional,FHA,VA Loan
Listing Terms Cash Out,Conventional,FHA,VA Loan