550 Madison Ave N $1,750,000

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    550 Madison Ave N Bainbridge Island, WA 98110

    • 0 Beds
    • 0 Baths
    • 9,464 sq.ft.
    • Multi-Family
    Listing# 1466127
    SOLD 9/12/2019

    $1,750,000

    Days On Market: 35 4 Views
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    Property Details

    13 UNIT APARTMENT COMPLEX (10 - 1 BEDROOM UNITS & 3 - 2 BEDROOM UNITS) IN THE HEART OF BAINBRIDGE ISLAND - RENTS ARE BELOW MARKET DUE TO GRANTS/SUBSIDIES, WHICH EXPIRE IN JULY AND WILL THEN ALLOW THE NEW OWNER TO INCREASE RENTS TO CURRENT MARKET - IDEAL FOR A CONTRACTOR WHO WANTS TO BUILD A HUGE AMOUNT OF SWEAT EQUITY - PAVED, OFF-STREET PARKING - VERY CLOSE TO DOWNTOWN BAINBRIDGE ISLAND AND ALL STORES, SHOPS & SEATTLE FERRY.

    • General Features
      • County Kitsap
      • Zoning Code Residential
      • County Kitsap
      • Lot Details Curbs, Paved Street
      • Lot Dimensions 174X180
      • Lot Square Footage 31,363
      • Number of Stories 2
      • Number of Units 13
      • Site Features Outbuildings, Patio
      • Style 56-10+ Units
      • Year Built 1972
    • Building Features
      • Roof Compostion
      • Exterior Wood
      • Approx SqFt 9,464
      • Floor Covering Vinyl, Wall to Wall Carpet
      • Foundation Slab
    • Financials
      • Total Monthly Income $9,109
      • Net Operating Income $33,446
      • Gross Scheduled Income $109,308
      • Gross Adjusted Income $109,308
      • Total Expenses $75,862
      • Other Expenses $58,242
      • Insurance Expenses $1,588
      • Expenses $75,862
      • Heating Expenses $0
      • Electrical Expenses $1,440
      • Gross Rent Multiplier 11
    • Utilities and Taxes
      • Tax Year 2019
      • Tax Amount $0
      • Energy Source Electric
      • Heating and Cooling Baseboard
      • Water Company City
      • Sewer Company Sewer Connected
    • Schools
      • School District Bainbridge Island
      • Senior High Bainbridge Isl
      • Junior High Buyer To Verify
      • Elementary School Buyer To Verify

    Neighborhood

    98110 (Bainbridge Island) Demographics

    48Median Age
    854Population Density (per sq. mile)
    75%College Educated
    $102,906 Estimated Median Income
    7,468Estimated Total Home Owners
    2,187Estimated Total Renters
    77% / 23%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    23,576Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $875,000 Median Sales Price
    44 Homes Sold
    0 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- New in Database Source
        9/12/2019 12:00:00 AM Sold Source New Value: $1,750,000
        6/10/2019 12:21:16 PM Status Changed Source New Value: Pending

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        This property search is part of the Reliance Network website. Listing information is courtesy of the WA-NWMLS and Reliance Network. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2019. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.