814 E Howe St - Apartments FOR SALE


Seattle, WA 98102- Capitol Hill
$1,985,000 USD
425-444-6501
814 E Howe St, Seattle, WA for Sale
$1,985,000 USD
Apartments - FOR SALE
1/24
null | 4.62% Cap Rate

814 E Howe St
Seattle, WA 98102
Capitol Hill


HIGHLIGHTS

  • Excellent North Capitol Hill location featuring spectacular views of the city and Lake Union from multiple apartment homes
  • Unique parklike setting with easy access to South Lake Union, Downtown Seattle, Interstate 5, State Route 520, and the Eastside
  • Mostly oversized 2-bed units with oak floors, dual-pane windows, 9’ ceilings, and in most homes there are new baths, remodeled kitchens, and laundry
  • Garage parking for two vehicles and three off-street parking spaces
  • Many updates to the building including sewer, plumbing, retaining wall, and main water line; Underwriters Laboratory and Square D electrical panels
  • Owner occupied opportunity – views, large units, amenities, parking garage

OVERVIEW

814 E Howe Street offers a serene, parklike setting, while providing convenient access to the South Lake Union and Downtown Seattle employment centers, as well as easy access to Interstate 5, State Route 520, and Eastside employers. The property has undergone a variety of system updates and remodeling efforts in the past 15 years. These include updates to the sewer, plumbing, and main water line systems, as well as the construction of new retaining walls and the installation of a new patio. Significant renovations have been made to three of the five units, while the other two apartments have benefited from some updates and upgrades. Additionally, in 2023, the common laundry room was updated with new machines. Any of the three oversized two-bedroom homes would make for an excellent Lake Union view owner-occupant opportunity. Units showcase classic oak floors, 9-foot ceilings, and updated dual-pane windows. Select units boast remodeled kitchens, new baths, and the added convenience of in-unit laundry. Multiple apartments offer sweeping views of Lake Union and the city skyline. Parking is provided via a two-vehicle garage and three additional off-street spaces. While profitable in its current operations, the new operator of 814 E Howe Street will have the likely opportunity for 10%+ upside in the form of raised rents, charging for parking, and implementing a utility bill-back program. (Notes: Open 1-bed unit is legally a studio. The two 2-bed/1-bath units also feature dens. Seller prefers Chicago Title for title and escrow. Buyer to verify all information.)

FOR SALE DETAILS

PRICE

$1,985,000 USD

PRICE/SF

$383 USD /SF

# OF UNITS

5

PRICE/UNIT

$397,000

CAP RATE

4.62%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1908

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,565 SF

ZONING

LR1 (M)

APN/PARCEL ID

630640-0080

ASK ABOUT THIS PROPERTY

Dan SwansonKidder MathewsMore Info
425-444-6501

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Dan SwansonKidder MathewsMore Info
425-444-6501

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