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The Lowell Emerson 1110 8th Ave 195 Unit Apartment Building For Sale Seattle, WA 98101
INVESTMENT HIGHLIGHTS
- Investment Scale: At 195 residential units and one popular restaurant, Lowell Emerson offers a compelling scale for significant value-add upside
- Steam Heat Conversion: Converting the building from steam to electric heat will provide significant yearly utility savings
- Replacement Cost: Cost of high rise construction today exceeds $800,000 per unit, offering an investor the opportunity to purchase Lowell Emerson at a
- Incentivized Capital Improvements: The City of Seattle offers incentives for preserving historic properties. Investors will be able to lower the asses
- Leased Retail: Ananas Pizzeria is a popular neighborhood eatery known for its unique fusion of Lao flavors and traditional pizza. Fully Leased through
- Above Average Return on Investment: Ability to achieve a mid-6% return-on-cost, usually reserved for the risk associated with new development
EXECUTIVE SUMMARY
Cushman & Wakefield Capital Markets (“C&W”) is pleased to present an exclusive opportunity to acquire The Lowell Emerson (the “Property”), an iconic, 195-unit, mixed-use multifamily investment located in the heart of Seattle. Originally built as a grand hotel by famed Seattle architect Henry Hudson, the Lowell Emerson is walkable to Downtown and First Hill. The Lowell Emerson represents a compelling value-add investment with institutional scale, wrapped up in an architecturally timeless building.
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.33 AC |
| No. Units | 195 | Building Size | 105,776 SF |
| Property Type | Multifamily | Average Occupancy | 80% |
| Property Subtype | Apartment | No. Stories | 11 |
| Apartment Style | Mid-Rise | Year Built | 1928 |
| Building Class | C | ||
| Zoning | HR, Seatttle | ||
| Sale Type | Investment |
| No. Units | 195 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 105,776 SF |
| Average Occupancy | 80% |
| No. Stories | 11 |
| Year Built | 1928 |
| Zoning | HR, Seatttle |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Smoke Free
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Storage Space
- Maintenance on site
- Public Transportation
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $24,511,000 | |
| Land Assessment | $8,280,000 | Total Assessment | $32,791,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$8,280,000
Improvements Assessment
$24,511,000
Total Assessment
$32,791,000
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