4270 NE 50th St - Apartments FOR SALE


Seattle, WA 98105- Laurelhurst
$4,750,000 USD
425-822-9752
4270 NE 50th St, Seattle, WA for Sale
$4,750,000 USD
Apartments - FOR SALE
1/29
null | 3.77% Cap Rate

4270 NE 50th St
Seattle, WA 98105
Laurelhurst


HIGHLIGHTS

  • Conveniently located within walking distance of Children’s Hospital, BurkeGilman Park, and Laurelhurst Elementary.
  • Just 1 mile from the University of Washington and University Village.
  • Each home offers 2,020 square feet of light-filled, modern living space.
  • The top-floor Master Suite includes a deluxe bath and walk-in closet and views of Seattle.
  • Homes are equipped with mini-split A/C, tankless water heaters, and generous storage.
  • Each Unit On it's Own Parcel and Can Be Sold Individually

OVERVIEW

This listing features 5 of the 6 townhomes in the upscale Asana community, each on its own tax parcel. Located directly across from a greenbelt and just steps from Seattle Children’s Hospital, this is one of the strongest locations in the city for rentals and long term appreciation. Residents enjoy walkability to the Burke-Gilman Trail, University of Washington, University Village, and Laurelhurst Elementary—making it a highly desirable neighborhood for both renters and long-term homeowners. Each unit offers 2,020 square feet of thoughtfully designed living space with premium finishes, attached garages, tankless water heaters, mini-split A/C, and spacious top-floor primary suites with walk-in closets and sweeping views. Natural light floods the interiors, and ample storage is provided throughout. There's always plenty of street parking in this quiet neighborhood. The portfolio is currently operating at a 3.8% cap rate with an 18.6 GRM, and units have been renting rapidly at ~$4,795/month. But the true value lies in the underlying pricing—at just $470 per square foot, this offering is below replacement cost for this quality of construction in Seattle. Investors have multiple exit strategies: continue increasing rents and hold for long-term income, sell as a stabilized portfolio, or capitalize on the next wave of single-family home appreciation by selling each unit individually. With each home on a separate lot, the flexibility is already built in. The location can’t be beat, and the fundamentals are strong—this is a rare opportunity to own high-quality product in one of Seattle’s most resilient and high-demand rental submarkets.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$510 USD /SF

# OF UNITS

5

PRICE/UNIT

$950,000

CAP RATE

3.77%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Asana Homes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2020

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

LR1

APN/PARCEL ID

039450-0095,039450-0096,039450-0097,039450-0098,039450-0101,039450-0102

ASK ABOUT THIS PROPERTY

Grant FallonMcCallen & Sons, Inc.More Info
425-822-9752

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Grant FallonMcCallen & Sons, Inc.More Info
425-822-9752

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