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401 521 Madrona Way Ne, Bainbridge Island, WA – $22,400,000

  • $22.4M Price
  • 1.12 Acres
  • 22 DOM
  • $22.4M Price
  • 1.12 Acres
  • 22 DOM

401 521 Madrona Way Ne

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.

Essential Information

  • Listing OfficeSterling Johnston Real Estate
  • MLS® #1711386
  • Price$22,400,000
  • Acres1.12
  • Year Built2019
  • TypeResidential Income
  • Sub-TypeMulti-Family
  • StatusActive

Community Information

  • Address401 521 Madrona Way Ne
  • Area170 - Bainbridge Islan
  • SubdivisionBainbridge Island
  • CityBainbridge Island
  • CountyKitsap
  • StateWA
  • Zip Code98110

Interior

  • # of Stories2

Exterior

  • Exterior FeaturesCement/Concrete,Metal/Vinyl
  • FoundationPoured Concrete

School Information

  • DistrictBainbridge Island
  • ElementaryBuyer To Verify
  • HighBainbridge Isl

Additional Information

  • Days on Market22
  • Cumulative Days on Market22
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Listing information last updated on March 2nd, 2021 at 1:33pm CST.