9021 17th Ave SW - Apartments FOR SALE


Seattle, WA 98106- South Delridge
$12,500,000 USD
206-491-2008
9021 17th Ave SW, Seattle, WA for Sale
$12,500,000 USD
Apartments - FOR SALE
1/15
null | 5.46% Cap Rate

9021 17th Ave SW
Seattle, WA 98106
South Delridge


HIGHLIGHTS

  • Well-Balanced Unit Mix
  • Attractive Revenue Upside
  • Strong Submarket Rent Growth
  • Rent Affordability
  • Nearby Neighborhood Amenities & Fast Access to Major Economic Drivers
  • Strong In-Place Operations

OVERVIEW

Situated in one of West Seattle's most community-oriented pockets, Edric Apartments offers the kind of everyday livability and lifestyle that continues to attract and retain quality tenants. Residents are steps from multiple parks minutes from Westwood Village Shopping Center and a short drive to the famous Alki Beach, California Avenue, and the West Seattle Ferry. At the same time, proximity to Sea-Tac Airport and Downtown Seattle, with its concentration of major employers, means Edric Apartments draws from a deep and durable renter pool. The property, built in 2021, was completed with the highest standards in mind. A total of 32 oversized one- and two-bedroom floorplans, averaging over 800 SF, set the property apart from the broader submarket, while interior finishes - including LVP flooring, stainless steel appliances, and shaker-style cabinetry - deliver a modern, high-end feel. Building amenities like covered parking, full-size in-unit washers and dryers, a courtyard, and bike storage further elevate the resident experience. The operations supporting Edric Apartments make this offering even more compelling. The property consistently runs ahead of the submarket, supported by a diverse income base that far exceeds base rent. The surrounding market has seen meaningful growth since 2021, and in-place rents are just a fraction of average household income. Parking, storage, and RUBS contribute additional monthly income, creating a clear and credible path to continued upside. For investors seeking a stabilized, income-producing asset in a market with proven demand, Edric Apartments presents a rare combination of quality, location, and growth potential.

FOR SALE DETAILS

PRICE

$12,500,000 USD

PRICE/SF

$399 USD /SF

# OF UNITS

32

PRICE/UNIT

$390,625

CAP RATE

5.46%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Edric

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2021

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,358 SF

ZONING

LR3 (M)

APN/PARCEL ID

789980-0905,789980-0915

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

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