2239 Yale Ave E - Apartments FOR SALE


Seattle, WA 98102- Eastlake | 
$2,300,000 USD
206-999-9161
2239 Yale Ave E, Seattle, WA for Sale
$2,300,000 USD
Apartments - FOR SALE
1/37
null | 3.98% Cap Rate

2239 Yale Ave E
Seattle, WA 98102
Eastlake


HIGHLIGHTS

  • Well-maintained 7-unit including a 2 bd/1.5 bth Penthouse apartment w/ a nearly 1,000 SF deck with views of Lake Union, Space Needle & Gas Works Park
  • Low turnover and high demand rental location due to its close proximity to the South Lake Union tech hub, University of Washington & downtown Seattle
  • Copper plumbing and new electrical panels throughout, and 5 of the 7 units have updated kitchens and bathrooms
  • Incredible location just blocks from the shores of Lake Union and the numerous restaurants and shops located on Eastlake Ave E
  • 7 off-street parking spaces and a large laundry room on-site with coin-op washer/dryer and additional storage for every unit
  • Great opportunity for an owner-occupant to live in one unit and collect income from the other units to help pay the mortgage

OVERVIEW

The Castle Apts is a well-maintained 7-unit, including a Penthouse apartment with a nearly 1,000 SF deck, located in the heart of the Eastlake neighborhood. Great unit mix consisting of 3 studios, 3 one bedrooms & one 2 bd/1.5 bath Penthouse with panoramic views of the Seattle Skyline, Space Needle, Gas Works Park & Lake Union. Copper plumbing, updated kitchens & bathrooms in 5 of the units, and new electrical panels throughout. Tenants enjoy off-street parking, mature landscaping with separate outdoor spaces, large laundry room on-site with coin-op W/D and additional storage for all units. Low turn over and high rental demand neighborhood due to its close proximity to mass transit, the South Lake Union tech hub, University of Washington & downtown Seattle. Incredible opportunity for an owner-occupant to live in one unit and collect rent from the other units to offset the mortgage payment. Long-term tenants with below market rents unaware of sale. Please do not disturb tenants.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$489 USD /SF

# OF UNITS

7

PRICE/UNIT

$328,571

CAP RATE

3.98%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Castle Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,502 SF

ZONING

LR3

APN/PARCEL ID

290220-0441

ASK ABOUT THIS PROPERTY

Lauren HendricksWindermere CommercialMore Info
206-999-9161

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Lauren HendricksWindermere CommercialMore Info
206-999-9161

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