11060 16th Ave SW - Apartments FOR SALE


Seattle, WA 98146- Highline
$9,600,000 USD
425-422-0954
11060 16th Ave SW, Seattle, WA for Sale
$9,600,000 USD
Apartments - FOR SALE
1/18
null | 5.5% Cap Rate

11060 16th Ave SW
Seattle, WA 98146
Highline


HIGHLIGHTS

  • Current in-place cap rate of 5.5%, with a market cap rate of 6.2%
  • Less than two miles from the shores of the Puget Sound and eight miles southwest of Downtown Seattle,
  • White Center and the South King County market held steady with a 6% vacancy rate, the lowest in the Puget Sound submarket for the last two quarters of

OVERVIEW

DubSea,built in 2015, offering 42 thoughtfully designed units.Open floor plans, tall ceilings, Wood laminate floors in the main living areas. This property boasts a current in-place cap rate of 5.5%, with a market cap rate of 6.2%, making it an attractive investment opportunity. variety of unit types, studios, 1-bedroom, 2-bedroom, and 3-bedrooms, 54 off-street parking spaces.Picnic area,playground and a fully equipped fitness center,secure building access, security cameras, in-unit washer and dryers.LED lighting, double-pane windows, and state-of-the-art insulation ensure comfort and cost savings,quick commute to downtown Seattle, Boeing, SeaTac, I-405, and I-90, West Seattle’s shopping and dining venues are within walking distance.The DubSea Apartments offers new ownership strong investment potential. Rents are below market and the property offers significant potential for rental upside. Additionally, the property’s new construction allows for lower than typical maintenance costs, efficient property management, and the likelihood of lower insurance rates and predictability, while the property’s desirable, up-and-coming location positions the property for strong future appreciation. With its excellent location, desirable unit mix, and strong investment potential, DubSea is poised to provide robust returns coupled with the ease of maintenance and management for the next owner. This combination of factors not only enhances its appeal as a rental property but also underscores its potential for long-term value growth.

FOR SALE DETAILS

PRICE

$9,600,000 USD

PRICE/SF

$286 USD /SF

# OF UNITS

42

PRICE/UNIT

$228,571

CAP RATE

5.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

DubSea Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2016

PARKING SPACES

54

LAND DETAILS

LAND ACRES

0.87 AC

LAND SF

37,893 SF

ZONING

R48

APN/PARCEL ID

345100-0475

ASK ABOUT THIS PROPERTY

Donna MarshallCapstone Real Estate GroupMore Info
425-422-0954

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Donna MarshallCapstone Real Estate GroupMore Info
425-422-0954

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.