4902 Aurora Ave N - Apartments FOR SALE


Seattle, WA 98103- Wallingford
$1,200,000 USD
360-810-9111
4902 Aurora Ave N, Seattle, WA for Sale
$1,200,000 USD
Apartments - FOR SALE
1/7
null | 2.02% Cap Rate

4902 Aurora Ave N
Seattle, WA 98103
Wallingford


HIGHLIGHTS

  • 22.4% ownership interest offered with significant minority interest pricing discount.
  • Anticipated mortgage refinance in 2028-2029 supports potential capital return.
  • Historically stable operations with low vacancy and strong occupancy rates.
  • New roof installation planned for 2026, reducing future capital needs.
  • Highly desirable Wallingford location near Woodland Park and Green Lake, with easy access to major business districts.

OVERVIEW

This investment opportunity offers a 22.4% ownership interest in a stabilized 31-unit multifamily property located in the highly sought-after Wallingford neighborhood of Seattle. Priced at a 15% minority interest discount to pro-rata market value, this offering aligns with market standards for partial ownership acquisitions, providing investors an attractive entry point into one of Seattle’s most vibrant residential areas. The property benefits from consistently high occupancy, with a reported 96.8% rate at year-end 2025, and demonstrates stable performance with an estimated three-year average NOI of $354,000. An anticipated mortgage refinance in 2028-2029 presents potential for substantial capital distribution, enhancing upside for new investors. Additionally, a new roof scheduled for installation in 2026 reduces near-term capital expenditure risk. Located across from Woodland Park and minutes from Green Lake, the property enjoys excellent connectivity to Downtown Seattle, the University District, and major employment centers. The area is walkable and surrounded by a mix of retail, dining, and lifestyle amenities, strengthening long-term renter appeal and investment stability.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$56 USD /SF

# OF UNITS

31

PRICE/UNIT

$38,710

CAP RATE

2.02%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Santorini At The Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2001

PARKING SPACES

47

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

12,894 SF

ZONING

C140

APN/PARCEL ID

952110-1155

ASK ABOUT THIS PROPERTY

Andi CostelloNavigate Commercial Real EstateMore Info
360-810-9111

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Andi CostelloNavigate Commercial Real EstateMore Info
360-810-9111

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