206-369-7599
4351 15th Ave S, Seattle, WA for Sale
Apartments - FOR SALE
1/18
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4351 15th Ave S
Seattle, WA 98108
Beacon Hill


HIGHLIGHTS

  • ~$200K NOI Upside Through Simple Operational Improvements
  • Newer Construction, Minimal CapEx
  • Large Unit Premium
  • Below Replacement Cost Basis
  • Stable, Diversified Income Stream
  • Operational Efficiency

OVERVIEW

Cushman & Wakefield Multifamily Capital Markets is pleased to present an exclusive opportunity to acquire Harlow Heights, a newer construction, institutional-quality asset in one of Seattle’s most supply constrained urban neighborhoods, combining durable in-place cash flow with clear, steady upside. The investment is anchored by high-quality construction, large unit layouts, and structured parking, all of which differentiate the asset from the surrounding housing stock in Beacon Hill. Combined with west-facing views toward Puget Sound and the Olympic Mountains, the property delivers a level of product quality that is difficult to replicate today—particularly at its basis. Investors benefit from below-market in-place rents with a clear path to mark units to market through natural lease rollover, alongside additional upside from operational optimization and ancillary income expansion – including parking, utility reimbursements, and in-place commercial income. With limited near-term capital requirements, the asset provides a clean, predictable cash flow profile with multiple levers to drive NOI growth over time. Harlow Heights is offered well below replacement cost, in a submarket where new development is effectively stalled due to elevated construction costs and entitlement challenges. This creates a compelling setup where existing assets are positioned to capture future rent growth without new competitive supply, supporting long-term NOI expansion and value appreciation.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

39

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harlow Heights

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2016

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

NC1-55 (M)

APN/PARCEL ID

367940-0970

ASK ABOUT THIS PROPERTY

Tim McKayCushman & WakefieldMore Info
206-369-7599

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Tim McKayCushman & WakefieldMore Info
206-369-7599

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