501 Highland Dr - Apartments FOR SALE


Seattle, WA 98109- Queen Anne
$4,200,000 USD
206-442-2764
501 Highland Dr, Seattle, WA for Sale
$4,200,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

501 Highland Dr
Seattle, WA 98109
Queen Anne


HIGHLIGHTS

  • Private balconies with expansive lake views
  • Large one and two-bedroom floor plans
  • Well maintained by current ownership
  • Strong rental demand neighborhood
  • 5 carports and 6 open parking spaces

OVERVIEW

CBRE proudly presents Highland View Apartments, an impressive 11-unit residential building located in the desirable Queen Anne neighborhood of Seattle. This well-maintained property features a spacious mix of four one-bedroom units, six two-bedroom units and a 1,915 sq. ft. three-bedroom two bath Penthouse on the top floor. Each apartment has private decks, allowing residents to enjoy expansive views of Downtown Seattle, Lake Union and the Space Needle. The interior finishes were updated between 2002 and 2008 on turnovers and featured new kitchen and bath cabinets, Formica counter tops, vinyl floor coverings, carpet, new appliances, tub surrounds, sinks, toilets, paint and light fixtures. A value-add investor could turn the units again with high end finishes and capture a significant rental premium. Originally built in 1975, the Highland View received new double pane, vinyl framed windows in 1997, and the torch down roof was replaced in 2001.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$202 USD /SF

# OF UNITS

11

PRICE/UNIT

$381,818

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Highland View

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1975

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,680 SF

ZONING

LR3 (M)

APN/PARCEL ID

545780-1855

ASK ABOUT THIS PROPERTY

206-442-2764

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206-442-2764

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