New ListingRare Vashon investment and development opportunity! This established 5-unit multifamily property offers immediate income with future upside. The versatile mix includes a studio, two 2BR/1BA and two 3BR/1BA apartments with a history of strong occupancy. Current rents have intentionally been maintained below estimated fair-market levels, offering potential for increased rental income over time. Most units include a private washer & dryer and four units include fireplaces. The building has a newly installed roof, a significant infrastructure upgrade. The .75-acre R12-zoned parcel includes 6 water shares-an exceptional asset for future possibilities. Even more compelling, two contiguous R12SO-zoned parcels are also available, together offering 6 additional water shares. Acquisition of all three properties creates a rare assemblage opportunity with 12 total water shares, existing multifamily income and significant potential for a larger development vision. Explore the possibilities while benefiting from income already in place. Buyer to verify zoning, water availability, development potential and all intended uses. Please respect tenant privacy; no interior access without confirmed appointment.
| MLS # | 2583315 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | First Look |
| Year | 1957 |
| Days On Site | 5 |
| Listing Provided By | COMPASS | Connie Sorensen |
| SQ Feet | 4,160 |
|---|---|
| Story(s) | 2 |
| Units | 5 |
| Zoning | Multi-Family |
| Acreage | 0.75 |
| Property | 12001 |
|---|
| State | WA |
|---|---|
| County | King |
| City | Vashon |
| Zip Code | 98070 |
| Area | 800 Vashon Island |
| Community Name | In Town |
| School District | Vashon Isl High |
| Elementary School | Chautauqua Elem |
| High School | Vashon Isl High |
| Listing VS Median (in In Town) | |
Price: $1,295,000 low | high Med: $997,475 sqft: 4,160 low | high Med: 1,720 $ / sqft: $311 low | high Med: $624 On site: 5 low | high Med: 76 | |
| State | WA |
|---|---|
| County | King |
| City | Vashon |
| Zip Code | 98070 |
| Area | 800 Vashon Island |
| Community Name | In Town |
| School District | Vashon Isl High |
| Elementary School | Chautauqua Elem |
| High School | Vashon Isl High |
| Listing VS Median (in In Town) | |
Price: $1,295,000 low | high Med: $997,475 sqft: 4,160 low | high Med: 1,720 $ / sqft: $311 low | high Med: $624 On site: 5 low | high Med: 76 | |