1425 E Prospect St - Apartments FOR SALE


Seattle, WA 98112- Capitol Hill
$2,400,000 USD
425-444-6501
1425 E Prospect St, Seattle, WA for Sale
$2,400,000 USD
Apartments - FOR SALE
1/40
null | 4.39% Cap Rate

1425 E Prospect St
Seattle, WA 98112
Capitol Hill


HIGHLIGHTS

  • Premier North Capitol Hill location directly across the street from Volunteer Park with its brilliant Olmstead design
  • Walkable location – Transit-served and within walking distance of South Lake Union and Downtown job centers
  • Updated wiring/electrical panels, roof replacement (2017), plumbing/sewer updates, tuck pointing (2009-2011), foundation bolted to wood framing
  • Electric tenant-paid heat
  • Diverse unit mix – one studio, seven 1-bedroom apartments, and two 2-bedroom units
  • Desirable features such as parking for 5 vehicles, roof deck, a community laundry room, and resident storage space

OVERVIEW

Capitol Hill Apartments offers a rare opportunity to own a well-maintained, income-generating asset in one of Seattle’s most coveted neighborhoods. Located in a premier North Capitol Hill community, Capitol Hill Apartments are situated directly across from Volunteer Park, celebrated for its lush, Olmsted-designed landscapes. This highly walkable and transit-served location places residents within easy reach of South Lake Union and Downtown Seattle, two of the region’s major employment centers. The building has been owned by the same family since 1966 and features a diverse unit mix of 10 homes including a studio, 7 one-bedroom units, and 2 two-bedroom apartment homes, all underneath a remarkably unique roof deck. Numerous capital improvements have been completed over the years including updated electrical wiring and panels, electric heat, a 2017 roof replacement, extensive plumbing and sewer updates, tuck pointing between 2009 and 2011, and the bolting of the foundation to wood framing. Residents enjoy the convenience of laundry facilities and tenant storage on the lower level. With on-site parking for five vehicles and notable income upside potential in the form of raised rents and increased utility billbacks and parking income, Capitol Hill Apartments presents a compelling opportunity for investors seeking long-term value in a top-tier urban location.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$277 USD /SF

# OF UNITS

10

PRICE/UNIT

$240,000

CAP RATE

4.39%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Capitol Hill Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1908

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,610 SF

ZONING

NR3

APN/PARCEL ID

133730-0320

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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

Dan SwansonKidder MathewsMore Info
425-444-6501

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