The Lee & Associates Northwest | Multifamily Team is pleased to present The Strand Apartments, an 18-unit building located in the heart of Capitol Hill, one of Seattle’s most walkable and amenity-rich neighborhoods. Constructed of classic brick masonry and well maintained, The Strand offers timeless street appeal. The building comprises of 18 studio units, ideal for today’s urban renters. Recent system upgrades include replacement of electrical service mains and subpanels in 2013 and modern tankless water heaters installed in 2022, reducing operating costs and ensuring long-term reliability. The Strand offers a rare expansion opportunity with plans and permits in place for the addition of three units and seismic retrofit providing a significant boost to revenue and overall asset value. There is also the potential to acquire the building directly to the south of The Strand—The 11-unit Lanning Apartments—offering attractive scale and the opportunity to assemble a combined 9,600 SF of MR (M) zoned land in the core of Capitol Hill. With strong market fundamentals, a prime walkable location, a clear path to income growth through unit additions and interior enhancements, plus the opportunity to scale through an adjacent acquisition, The Strand presents an exceptional opportunity to own a character-rich asset in one of Seattle’s most resilient and high-demand submarkets. Pride of Ownership Asset – Well maintained classic brick charm Additional Units Opportunity – Plans and permits in hand to add 3 additional units to the building Assemble with Neighboring Parcel – Acquire the neighboring building for additional scale for total package of 29 units and 9,600 LSF MR (M) Attractive Basis – Acquire units below replacement cost in a top tier submarket Top Performing Core Neighborhood - Premier Walkability supports desired urban lifestyles and provides future investors an opportunity to own a true centrally located asset with strong tenant demand for years to come Capitol Hill is a high density, residential neighborhood located just east of the downtown Seattle business district. Capitol Hill is known for its restaurants, coffee shops, nightlife and proximity to many of Washington’s major employers. The neighborhood is situated east of downtown Seattle. Capitol Hill is one of the most densely populated neighborhoods in the city, made up of mostly mid-rise buildings with hundreds of eclectic businesses, creating a vibrant, community appealing to tenants working downtown or on the Eastside. The Strand Apartments is well located one block off Capitol Hill’s Summit Avenue retail district. Connecting the vibrant Pike-Pine retail district with the historic Harvard-Belmont neighborhood, Summit Ave is home to many independent cafes, restaurants and retailers. Sought after by today’s modern lifestyles, these amenity-rich blocks foster a truly authentic and walkable community. Adding to the residential experience, the property is conveniently located near multiple parks and recreation opportunities. Several of Seattle’s most beloved parks, including Volunteer Park and Cal Anderson are within walking distance of the property. With its central Capitol Hill location, The Strand Apartments provides residents with multiple options to access the region. Its proximity to both Downtown and South Lake Union offer the ability for a truly car-free commute. The Capitol Hill Light Rail station, with connections to North Seattle, Sea Tac Airport and Bellevue in 2025, is a 3-block walk from the building. Access to I-5 is also excellent. Centrally located within a vibrant neighborhood of Seattle and boasting a Walk Score of 97, The Strand Apartments offers a unique and amenity rich experience sought after by many.