105 Mercer St
Seattle, WA 98109
Mercer Apartments · Multifamily Property For Sale · 44 Units

Located on the 50-yard line of Seattle’s prestigious Queen Anne/Uptown neighborhood, this 41-unit classic courtyard brick gem provides investors with the rare opportunity to own a legacy building. Mercer Apartments has significant income upside and long-term redevelopment potential and is in the heart of the most economically robust sub-market of Seattle. Additionally, the Queen Anne/Uptown area is slated to benefit from the substantial redevelopment of Key Arena, scheduled to open in the summer of 2021, and the associated growth in the surrounding area. The charming Mercer Apartments was built in 1929 and is comprised of 22 spacious one Bedroom and 19 large studio units with dressing rooms/dens. The Mercer has been tastefully updated with timeless improvements to the kitchens and baths that offer functionality while maintaining the character of the building. Classic brick buildings with hardwood floors, coved ceilings and abundant period charm like the subject property always enjoy excellent sustained rental performance. The Mercer Apartments is perfectly positioned to capitalize on the demand for updated apartments with old world charm and modern amenities. Located in lower Queen Anne, the Mercer Apartments is within walking distance to some of Seattle’s strongest employment growth including Amazon, Apple, Google and other tech giants rapidly expanding in South Lake Union. Residents can run all daily errands and get to and from work without a car. The building is walking distance to many trendy restaurants, coffee shops and entertainment amenities, offering tenants an unmatched urban lifestyle. Several mass transit options are also within walking distance to the property including local buses, the Seattle Monorail with connection to the Sound Transit Link Light Rail, and the Street Car Station.