8821 35th Ave SW - Apartments FOR SALE


Seattle, WA 98126- Fauntleroy
$1,050,000 USD
206-812-9101
8821 35th Ave SW, Seattle, WA for Sale
$1,050,000 USD
Apartments - FOR SALE
1/20
null | 4.81% Cap Rate

8821 35th Ave SW
Seattle, WA 98126
Fauntleroy


HIGHLIGHTS

  • Seller Financing – 25% Down Payment, 5% Interest-Only, 5-year term
  • Operational value-add to billback for utilities, storage, and parking
  • 9.4% Cash on Cash return on renovations ($150k Budget)
  • Units are in classic, well-maintained condition presenting renovation value-add potential
  • Proposed zoning of LR3 - future development potential
  • 5 storage areas and 5 off-street parking spaces

OVERVIEW

Paragon Real Estate Advisors is pleased to present the exclusive listing of the West Seattle 5. Seller financing is available with attractive terms: 25% down payment and 5% interest-only payments for five years. This well-located 5-unit property offers a compelling value-add investment opportunity through both operational improvements and unit renovations. A new owner can unlock immediate upside by implementing a utility bill-back system for water, sewer, and garbage, as well as charging for storage and reserved off-street parking. Additionally, completing full unit renovations and bringing rents up to market levels provides a clear path to repositioning the asset and enhancing long-term returns. The property is part of phase 2 of the Seattle One Plan upzone. The proposed zoning is LR3 which creates future development potential. The unit mix includes two 1-bedroom/1-bathroom units and three 2-bedroom/1-bathroom units, all in classic, well-maintained condition. The property also features an owned, coin-operated common laundry area (one washer and dryer), five tenant storage units, and five off-street parking spaces accessible via the alley. Located in the desirable Fauntleroy neighborhood of West Seattle, the West Seattle 5 benefits from close proximity to Lincoln Park and the Fauntleroy Ferry Terminal, offering direct access to Vashon Island and Southworth. Residents enjoy a unique blend of urban convenience and suburban tranquility, nearby parks, and Westwood Village Shopping Center just a few blocks away. The property is also well-connected by public transit, with multiple bus lines providing easy access to downtown Seattle and surrounding neighborhoods.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$282 USD /SF

# OF UNITS

5

PRICE/UNIT

$210,000

CAP RATE

4.81%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Seattle 5

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,050 SF

ZONING

NR3

APN/PARCEL ID

249120-0100

ASK ABOUT THIS PROPERTY

Ben DouglasParagon Real Estate AdvisorsMore Info
206-812-9101

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

Ben DouglasParagon Real Estate AdvisorsMore Info
206-812-9101

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