5631 California Ave SW - Apartments FOR SALE


Seattle, WA 98136- Seaview Seattle
$7,700,000 USD
360-771-0010
5631 California Ave SW, Seattle, WA for Sale
$7,700,000 USD
Apartments - FOR SALE
1/37
null | 6% Cap Rate

5631 California Ave SW
Seattle, WA 98136
Seaview Seattle


HIGHLIGHTS

  • Turnkey mixed use asset with 15 fully leased residential units and 4 fully leased street level retail spaces
  • Offered at an in place 6.00% cap rate providing strong in place cash flow and long term value growth
  • Located in the heart of the West Seattle Junction on California Avenue, a highly walkable and supply constrained mixed use submarket
  • Fully occupied street retail with excellent visibility along California Avenue SW - 1/2 block from Rapid Ride stop
  • Condo like residential units with in unit washer and dryers, large balconies, gas fireplaces, and modern finishes
  • Stainless steel appliances, stone countertops, and LVT flooring throughout units

OVERVIEW

Fully renovated, turnkey mixed-use asset located in the heart of the West Seattle Junction, The EOS consists of 15 luxury apartments situated above four fully leased retail spaces, offering a diversified income stream in a premier urban location. All 2BD units with W/D, balconies, and modern interior finishes. 17 open and covered residential parking spaces located at the rear of the building and 8 open commercial parking spaces at the front of the property. Built in 1980 and renovated, EOS offers investors a true turnkey ownership opportunity with a low maintenance profile. The building features an elevator, renovated formal lobby, Amazon package lockers, copper plumbing, newer lower roof, and freshly upgraded common areas. Located just steps from the West Seattle Junction’s premier restaurants, shops, and cafes, this asset is priced at an in-place 6.00 percent cap rate, providing strong in place cash flow with long term value growth driven by transit-oriented development

FOR SALE DETAILS

PRICE

$7,700,000 USD

PRICE/SF

$322 USD /SF

# OF UNITS

15

PRICE/UNIT

$513,333

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

EOS Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1980

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

15,000 SF

ZONING

LR3 RC (M)

APN/PARCEL ID

762570-1430

ASK ABOUT THIS PROPERTY

Tanner FogleParagon Real Estate AdvisorsMore Info
360-771-0010

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Tanner FogleParagon Real Estate AdvisorsMore Info
360-771-0010

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