202 19th Ave E - Apartments FOR SALE


Seattle, WA 98112- Stevens
$6,650,000 USD
206-665-3272
202 19th Ave E, Seattle, WA for Sale
$6,650,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

202 19th Ave E
Seattle, WA 98112
Stevens


OVERVIEW

Opportunity for Potential Buyers: Honeysuckle Apartments presents a rare chance to acquire a well-located 30-unit apartment building in Seattle's highly sought-after Capitol Hill neighborhood. With the added stability of a Housing Assistance Payments (HAP) contract covering 29 out of 30 units, this investment offers significant risk reduction and steady cash flow. Situated minutes away from South Lake Union, Seattle’s Central Business District, and boasting excellent transit connectivity, this property caters to urban professionals, ensuring a strong rental demand.   Deal Highlights: Prime Capitol Hill Location: Honeysuckle Apartments offer unparalleled access to one of Seattle’s most vibrant and desirable neighborhoods, with proximity to major employment centers and amenities. Strong Cash Flow Stability: With 29 units under a HAP contract, the property benefits from government-backed rental income, reducing vacancy risks and ensuring stable cash flow. Value-Add Potential: The new ownership has the opportunity to implement utility fees and parking charges, further increasing revenue, pending HUD approval. Solid Transit Connectivity: Walking distance to the Capitol Hill Light Rail Station and major bus routes, making commuting easy for residents.

FOR SALE DETAILS

PRICE

$6,650,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

30

PRICE/UNIT

$221,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Honeysuckle Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,117 SF

ZONING

MR (M1)

APN/PARCEL ID

366750-0085

ASK ABOUT THIS PROPERTY

JD FullerKidder MathewsMore Info
206-665-3272

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JD FullerKidder MathewsMore Info
206-665-3272

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