Tour
More
1 / 9
2 / 9
3 / 9
PENDING
Listing provided courtesy of Daniel Lim, Lee & Associates Commercial RE.
Source NWMLS.
2820 75th Place SE, Mercer Island, WA 98040
4
beds
3
baths
7976
ft2
· 13900
ft2 lot
$3,650,000
$458 / ft2
3d-v2
3D virtual tour
Island Lanai Apts features 9 2-bed units, including 1 penthouse suite. Built in 1959, this well-maintained building has received updates to systems and units. The building features off street parking for 11 vehicles, storage lockers for each unit and a common laundry are provided on-site. This building has enjoyed very stable occupancy and even more so now with increased demand for two-bedroom units. Within Mercer Island’s Town Center, the property is blocks from both retail and I-90 access ramps. Residents enjoy walkability to amenities and connectivity to both Seattle & Bellevue employers. Island Lanai presents investors a rare opportunity to own a stabile a pride of ownership asset in the coveted 98040.
HOA
$0/month
On market
2 months
Year built
1959
Property type
55 5 Plex,Multi Family
Parking
11
MLS
1736207
Price / Sq.Ft.
$458 / ft2
Status
Pending
price-analysis-v2
Price analysis
prepare-offer
Prepare an offer
Tour this home
Request a free tour of this home
Monday
19
April
Tuesday
20
April
Wednesday
21
April
Thursday
22
April
Friday
23
April
Saturday
24
April
Sunday
25
April
Monday
26
April
Tuesday
27
April
Wednesday
28
April
Thursday
29
April
Friday
30
April
Saturday
1
May
Sunday
2
May
Tour type :
In person
Need a Lyft ride to and from your tour?
Flyhomes Cash Offer
Based on a price of $3,650,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$27,375
$4,916
+$627/day
$22,459
Best
Flyhomes Guaranteed Offer
$27,375
- -
$27,375
Better
Discount Brokerage
$12,593
not offered
$12,593
Average
Traditional Brokerage
$0
not offered
$0
Variable
Legal Disclaimer: The Savings Calculator is intended for planning and educational purposes only, and should not be solely relied upon in your decision to participate in Flyhomes’ Cash Offer or other programs.Read more
Property Details
Interior Features & Layout
Oven Unit 1
Oven Unit 1
Oven Unit 2
Oven Unit 2
Virtual Tour Link
http://www.lee-associates.com/northwest/properties/?property
Dishwasher Unit 1
Dishwasher Unit 1
Dishwasher Unit 2
Dishwasher Unit 2
Washer Dryer Unit 2
Washer Dryer Unit 2
Heating Details
Baseboard
Refrigerator Unit 1
Refrigerator Unit 1
Refrigerator Unit 2
Refrigerator Unit 2
Unit 1 Baths
1.00
Unit 2 Baths
2.00
Unit 3 Baths
0.00
Unit 4 Baths
0.00
Unit 2 Beds
2
Unit 1 Beds
2
Unit 5 Baths
0.00
Unit 6 Baths
0.00
Property, Lot, Community & Exterior Features
Total Units In Building
9
Vacancy Rate
3
View
City, Lake, Mountain, Territorial
Lot Size Source
County
Mls Prop Type
55 - 5-Plex, Multi-Family
Building Exterior Details
Cement/Concrete, Wood Products
Uncovered Spaces
3
Style
55 - 5-Plex
Roof
Flat
Unit 2 Sqft
1500
Lot Details
Corner Lot, Cul-de-sac, Dead End Street
Unit 1 Sqft
850
Carport Spaces
8
Mls Property Type
Multi-Family
Unit 1 Details
8
Unit 2 Details
PH
Number Stories
3
Utilities & Other Information
Water / Sewer / Garbage
12771
Energy Source
Electric
Sewer
Sewer Connected
Listing Details, Costs & Financing Information
Insurance Expenses
5411
Form 17
Provided
Possession
Closing
Buyer's Agent Commission
2.5
Terms
Cash Out, Conventional
Net Operating Income
108548
Monthly Rent Unit 1
1546
Other Expenses
17757
Monthly Rent
14497
Leased Items
Washer/Dryer
Monthly Rent Unit 2
2100
Gross Rent Multiplier
21
Cap Rate
2.97
Tax Year
2020
Sale Type
MLS
Status
Pending
Gross Scheduled Income
173923
Taxes
24226
Operating Expense
60168, 60168
Preliminary Title Ordered
Preliminary Title Ordered
Apn
5453800010
Gross Adjusted Income
168716
School Neighborhood & Directions
Directions
Heading south on 76th Ave SE from I-90, turn right staying on 76th Ave SE. Turn right on SE 29th St. Building is on right.
Details provided by NWMLS and may not match the public record.The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 19, 2021 3:45pm
Neighborhood snapshot
27
Properties for sale
7
Median days on market
$610.00
Median sold price/sqft
103.28%
Sold/List %
walk-icon}
walk score® :
transit-icon}
transit score® :
bike-icon}
bike score® :
Property History
03/31/2021
03/31/2021
NWMLS #1736207
pending
NWMLS #1736207
$3,650,000
03/02/2021
03/02/2021
NWMLS #1736207
active
NWMLS #1736207
$3,650,000
Nearby Similar Homes
street view
$3,099,988
4719 86th Ave SE
Mercer Island, WA 98040
5 bed
3.25 bath
4730
 ft²
 · 
28600
 ft²  lot
Courtesy of NWMLS
Recently Sold Nearby
Products
BrokerageMortgageToursTitle & Escrow
Download the Flyhomes App
Equal Housing Opportunity
By searching, you agree to the Terms of Use and Privacy Policy.
California DRE #02012110

1 Homes are subject to our approval and must be listed within an MLS in the areas that Flyhomes operates. Homes are subject to inspections and other limitations.
Flyhomes © 2021