1925 Eastlake Ave E - Apartments FOR SALE


Seattle, WA 98102- Eastlake
$5,800,000 USD
206-442-2764
1925 Eastlake Ave E, Seattle, WA for Sale
$5,800,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

1925 Eastlake Ave E
Seattle, WA 98102
Eastlake


HIGHLIGHTS

  • Private balconies with stunning views of Downtown Seattle and Lake Union
  • Secured entry for building
  • Secure garage parking
  • Well maintained by current ownership

OVERVIEW

CBRE proudly presents Eastlake Manor Apartments, an 18-unit value-add asset situated in the vibrant Eastlake neighborhood of Seattle. This property offers a distinctive living experience with convenient access to a variety of shopping, dining, entertainment and recreation. Built in 1977, Eastlake Manor features spacious one and two-bedroom units, each with private balcony access, just steps away from the picturesque waterfront of Lake Union. 17 of the units were renovated on turnover between 2001 and 2010 while the 18th unit was recently updated on turnover in 2023. Updates included: new kitchen and bath cabinets, Formica countertops, vinyl floor coverings, carpet, new appliances, tub surrounds, sinks, toilets, paint and light fixtures. As one of Seattle’s premier rental neighborhoods, Eastlake commands substantial renovation premiums for high end finishes, which a value-add investor can take advantage of during future turnovers. Additionally, the property features a secure parking garage with 14 stalls; all the windows were updated to double pane vinyl frames in 1996, it received a new roof in the year 2000 and new deck railings and surfaces in 2009.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

18

PRICE/UNIT

$322,222

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eastlake Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1977

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,016 SF

ZONING

LR3 (M)

APN/PARCEL ID

202504-9036

ASK ABOUT THIS PROPERTY

206-442-2764

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206-442-2764

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