525 E Roy St - Apartments FOR SALE


Seattle, WA 98102- Capitol Hill
$3,195,000 USD
425-444-6501
525 E Roy St, Seattle, WA for Sale
$3,195,000 USD
Apartments - FOR SALE
1/15
null | 5.36% Cap Rate

525 E Roy St
Seattle, WA 98102
Capitol Hill


HIGHLIGHTS

  • Excellent corner-lot Capitol Hill location - blocks to the Harvard-Belmont Landmark District, and walking distance to Downtown, SLU, parks, and retail
  • Turnkey opportunity with stable occupancy and a 5.4% cap rate and 11.5 GRM
  • Walker’s Paradise Walk Score of 90 - incredible walking access to an abundance of restaurants, shops, grocery stores, parks, light rail, and buses
  • Upside potential - likely opportunity to raise rents to market levels and increase charges for parking /utility bill-backs to achieve a 5.8% cap rate
  • Parking spaces for 6 vehicles
  • Excellent unit mix featuring five 2-bed/1-bath units, five 1-bed/1-bath units, and one studio unit - average square footage of 684

OVERVIEW

Excellent corner-lot Capitol Hill location within blocks of the Harvard-Belmont Landmark District, and walking distance to Downtown, South Lake Union, Volunteer Park, Cal Anderson Park, and the trendy retail corridors of Broadway, Pike/Pine, and 15th Ave E. Turnkey opportunity with stable occupancy and a 5.4% cap rate and 11.5 GRM. Walker’s Paradise Walk Score of 90 - incredible walking access to an abundance of restaurants, shops, grocery stores, parks, Link light rail station, and multiple bus routes. Upside potential - likely opportunity to raise rents to market levels and increase charges for parking and utility bill-backs to achieve a 5.8% cap rate and 10.8 GRM. Parking spaces for 6 vehicles. Excellent unit mix featuring five 2-bed/1-bath units, five 1-bed/1-bath units, and one studio unit - average square footage of 684. Substantial building upgrades including major plumbing and electrical updates to most units, bathroom improvements to more than half of the units, dishwashers and updated kitchens in the two-bed units, and in-unit laundry in 9 of the 11 units. Desirable features including updated windows, secured entry, spacious floor plans with dining areas and large closets, scenic views from select units, and a common laundry room with 10 storage lockers.

FOR SALE DETAILS

PRICE

$3,195,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

11

PRICE/UNIT

$290,455

CAP RATE

5.36%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1957

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,520 SF

ZONING

LR3 (M)

APN/PARCEL ID

684820-0380

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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

Dan SwansonKidder MathewsMore Info
425-444-6501

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