9050 Greenwood Ave N - Apartments FOR SALE


Seattle, WA 98103- Greenwood
$5,200,000 USD
206-280-1871
9050 Greenwood Ave N, Seattle, WA for Sale
$5,200,000 USD
Apartments - FOR SALE
1/9
null | 5% Cap Rate

9050 Greenwood Ave N
Seattle, WA 98103
Greenwood


HIGHLIGHTS

  • Turn-key asset with significant capital improvements completed
  • Opportunity to add 21st unit
  • Controlled access creates safe living environment for tenants
  • Below market rents allow for increased revenue through natural rental upside
  • Walkable amenities including Trader Joe’s and Fred Meyer

OVERVIEW

JLL, as an exclusive advisor, is pleased to present the outstanding opportunity to acquire GW Apartments, an apartment community located in Seattle’s coveted Greenwood neighborhood, just north of Green Lake and downtown Seattle. Built in 1966 and fully renovated in 2018, GW Apartments (the “Property” or “Subject”) is a 20-unit mid-rise apartment community located in the Greenwood neighborhood of north Seattle, and proximate to a host of the largest employers in the region. The Property consists of seventeen 1-bedroom units and three 2-bedroom 1-bathroom units, all with in-unit laundry. The Property is strategically located next to I-5 and Highway 99, enhancing its connectivity to the broader Puget Sound region as well as the key technology employers in Seattle and the Eastside. With easy access to the Northgate light rail station and the Route 5 bus, the Property benefits from its transit-oriented location as well as proximity to nearly 1.7 million square feet of retail within a 1-mile radius. Residents of GW Apartments are afforded an urban lifestyle at a significant discount to the cost of rental housing in Seattle’s core markets.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$445 USD /SF

# OF UNITS

20

PRICE/UNIT

$260,000

CAP RATE

5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

GW Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1966

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

C140, Seattle

APN/PARCEL ID

946520-0125

ASK ABOUT THIS PROPERTY

206-280-1871

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206-280-1871

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