1110 8th Ave - Apartments FOR SALE
Seattle, WA 98101 |
1110 8th Ave
Seattle, WA 98101
HIGHLIGHTS
- Investment Scale: At 195 residential units and one popular restaurant, Lowell Emerson offers a compelling scale for significant value-add upside
- Incentivized Capital Improvements: The City of Seattle offers incentives for preserving historic properties. Investors will be able to lower the asses
- Steam Heat Conversion: Converting the building from steam to electric heat will provide significant yearly utility savings
- Leased Retail: Ananas Pizzeria is a popular neighborhood eatery known for its unique fusion of Lao flavors and traditional pizza. Fully Leased through
- Replacement Cost: Cost of high rise construction today exceeds $800,000 per unit, offering an investor the opportunity to purchase Lowell Emerson at a
- Above Average Return on Investment: Ability to achieve a mid-6% return-on-cost, usually reserved for the risk associated with new development
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
The Lowell Emerson
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
105776
STORIES
11
YEAR BUILT
1928
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
197920-0185,197920-0186
