3315 Claremont Ave S - Apartments FOR SALE


Seattle, WA 98144- Columbia City
$1,950,000 USD
206-812-9123
3315 Claremont Ave S, Seattle, WA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/28
null | 5.15% Cap Rate

3315 Claremont Ave S
Seattle, WA 98144
Columbia City


HIGHLIGHTS

  • Large average unit size of 976 square feet
  • All units have been renovated with LVP flooring, quartz countertops, new cabinets, stainless steel appliance packages, bathroom vanities, blinds
  • Well maintained building with sprinklers in exterior staircase and entry to all units
  • Easy access to public transportation lines
  • Huge rental upside by implementing a bill back for utilities, parking, pet rent, etc
  • Two blocks from the Mount Baker Light Rail Station – 12 minutes to Downtown Seattle and 20 minutes to SeaTac

OVERVIEW

Paragon Real Estate Advisors is pleased to present the Claremont Apartments. The Claremont combines the durability of 1990s construction with the appeal of a full, top-to-bottom renovation—creating a turnkey multifamily investment with meaningful rental upside. Modern building systems and comprehensive updates translate to minimal near-term capital expenditures and easy day-to-day management. At the same time, current in-place rents remain below prevailing market levels for renovated apartments in the Columbia City/Mount Baker area, presenting a clear opportunity to increase income as leases roll and demand for well-finished units continues to grow. The renovation program was extensive and designed to position the property for long-term stability. Interior upgrades include new modern kitchens with stainless steel appliances, quartz countertops, updated cabinetry, and contemporary lighting; refreshed bathrooms with new vanities, tubs, surrounds, fixtures and finishes; durable LVP flooring; blinds and updated paint throughout. Four of the units have a deck, the exterior grounds have been well kept, and an exterior common patio space is available for tenant use. Ideally located in South Seattle’s Columbia City/Mount Baker corridor, the property sits just two blocks from the Mount Baker Link Light Rail Station and the Mount Baker Transit Center, putting downtown Seattle only about 12–15 minutes away by light rail and Sea-Tac Airport within 20–25 minutes. Drivers benefit from quick access to Rainier Avenue S and I-5, with downtown reachable in roughly 10–15 minutes. Residents also enjoy the lively Columbia City dining, retail scene, and nearby green spaces such as Cheasty Greenspace and York Park.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$353 USD /SF

# OF UNITS

5

PRICE/UNIT

$390,000

CAP RATE

5.15%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Claremont Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1992

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,560 SF

ZONING

LR3 (M)

APN/PARCEL ID

128230-0510

ASK ABOUT THIS PROPERTY

Michael UrquhartParagon Real Estate AdvisorsMore Info
206-812-9123

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

Michael UrquhartParagon Real Estate AdvisorsMore Info
206-812-9123

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