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.