206 12th Ave E - Apartments FOR SALE


Seattle, WA 98102- Capitol Hill
$1,500,000 USD
206-457-6775
206 12th Ave E, Seattle, WA for Sale
$1,500,000 USD
Apartments - FOR SALE
1/18
null | 4.17% Cap Rate

206 12th Ave E
Seattle, WA 98102
Capitol Hill


HIGHLIGHTS

  • Seller Financing Available – Negotiable Terms
  • 4-minute walk to the Capitol Hill light rail station
  • Future development potential - NC2-75 (M1) Zoning
  • Updated electrical systemsIdeal location in the heart of Capitol Hill and a short walk to the main strip of Broadway with 100+ restaurants and bars
  • Walk Score of 97
  • 3 of the 6 units have been partially updated

OVERVIEW

Paragon Real Estate Advisors is pleased to present the 206 Manor, a 6-unit apartment building located on 12th Ave E in Capitol Hill. Seller financing is available with attractive and negotiable terms. Situated in the heart of Capitol Hill, one of Seattle’s most dynamic and sought-after neighborhoods, this 6-unit apartment building presents an outstanding investment opportunity with immediate value-add potential. Located just 3 blocks from the Capitol Hill Light Rail Station, residents enjoy unparalleled access to downtown Seattle, the University District, and SeaTac Airport— making this a prime location for car-free urban living. Built in 1901, the property has old-world character and charming design elements combined with some updates and remodeling done over the years blending different styles. There is a balanced unit mix, including two studio units that share a bathroom and four one-bedroom/one-bathroom units. Units have different layouts and finishes with some including updated counters, cabinets, flooring and other fixtures. Three of the units are currently being left vacant so that a future owner can add their own touch and lease them up at market rates to qualified tenants. There is an area that is currently being used as an office but could be added to a unit to increase the square footage of the unit and increase the earning potential of the property. The basement space is currently being used by the owner for additional storage but was used as a common laundry in the past and could be converted back to an amenity space for residents and bring in additional income. With top-tier public transit, vibrant nightlife, eclectic dining, and essential amenities just steps away, tenants don’t need a car to enjoy all that Capitol Hill and Seattle have to offer. This property is ideal for investors seeking stable cash flow today and strong upside tomorrow in one of Seattle’s premier rental submarkets.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$830 USD /SF

# OF UNITS

6

PRICE/UNIT

$250,000

CAP RATE

4.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

206 Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1901

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,200 SF

ZONING

NC2-75 (M1)

APN/PARCEL ID

600350-1630

ASK ABOUT THIS PROPERTY

Will DouglasParagon Real Estate AdvisorsMore Info
206-457-6775

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Will DouglasParagon Real Estate AdvisorsMore Info
206-457-6775

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