403 E Thomas St - Multi-Family FOR SALE


Seattle, WA 98102- Capitol Hill
$2,800,000 USD
425-444-6501
403 E Thomas St, Seattle, WA for Sale
$2,800,000 USD
Multi-Family - FOR SALE
1/25
null | 5.31% Cap Rate

403 E Thomas St
Seattle, WA 98102
Capitol Hill


HIGHLIGHTS

  • Convenient Capitol Hill location; a Walker’s Paradise walk score of 95; Walkable to Downtown, South Lake Union, restaurants, light rail, and shops
  • 7.0% market cap rate is likely with little renovation required
  • Owner occupant opportunity: Large ±1,200-SF view penthouse unit with 2 bedrooms plus a den and one-and-a-half bathrooms
  • Downtown and Space Needle views from upper floors
  • Excellent unit mix 4 two-beds, 4 one-beds, and a studio, 9 off-street and 2 garage parking spaces
  • Updated dual-pane windows, in-unit laundry and dishwashers in all units other than the studio, elevator

OVERVIEW

Convenient Capitol Hill location; a Walker’s Paradise walk score of 95 7.0% market cap rate is likely with little renovation required Walkable to Downtown, South Lake Union, restaurants, light rail, and shops Excellent unit mix 4 two-beds, 4 one-beds, and a studio Owner occupant opportunity: Large ±1,200-SF view penthouse unit with 2 bedrooms plus a den and one-and-a-half bathrooms Downtown and Space Needle views from upper floors 9 off-street and 2 garage parking spaces Updated dual-pane windows, in-unit laundry and dishwashers in all units other than the studio, elevator Well maintained property Rent upside – parking & utility bill-back Alternate exit strategy & upside of easy condo conversion: Condo documents already in place with 12 parcels (1 for land, 2 for parking, and 9 for units)

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$447 USD /SF

# OF UNITS

9

PRICE/UNIT

$311,111

CAP RATE

5.31%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Edgene Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1966

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,241 SF

ZONING

MR (M), Seattle

APN/PARCEL ID

226400-0000,226400-0010,226400-0020,226400-0030,226400-0040,226400-0050,226400-0060,226400-0070,226400-0080,226400-0090,226400-0100,226400-0110

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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Dan SwansonKidder MathewsMore Info
425-444-6501

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