1305 E Madison St | Seattle, WA 98122
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- LoopNet Team
1305 E Madison St
Seattle, WA 98122
Park Hill Apartments · Multifamily Property For Sale
·
31 Units
Investment Highlights
- Strategic location near Capitol Hill’s Pike/Pine corridor, light rail, and upcoming Madison RapidRide bus
- Classic brick veneer building with updated plumbing and wiring systems
- Value-add opportunity with a majority of the units expected to be vacant at close, potential to achieve a ±7% cap rate through major renovation
- Walker’s Paradise walk score of 99 – 30+ restaurants/shops within 0.1 mile
- Average size of 965 square feet – mix of studio, one, two, and three bedrooms
- 9-foot ceilings, 6-inch molding, 5 panel doors, refinished fir floors, grand entrances
Property Facts
| No. Units | 31 | Lot Size | 0.29 AC |
| Property Type | Multifamily | Building Size | 37,010 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 3 |
| Building Class | B | Year Built | 1907 |
| Zoning | NC3-75 (M) - Neighborhood Commercial | ||
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 37,010 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1907 |
| Zoning | NC3-75 (M) - Neighborhood Commercial |
Amenities
Unit Amenities
- Storage Space
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- Courtyard
- Laundry Facilities
- Pet Play Area
- Vintage Building
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $1,433 | 620 |
| 1+1 | 10 | $1,530 | 711 |
| 2+1 | 14 | $2,086 | 1,111 |
| 3+1 | 3 | $2,800 | 1,470 |
Property Taxes
| Parcel Number | 386540-0010 | Improvements Assessment | $1,816,600 |
| Land Assessment | $6,540,400 | Total Assessment | $8,357,000 |
Property Taxes
Parcel Number
386540-0010
Land Assessment
$6,540,400
Improvements Assessment
$1,816,600
Total Assessment
$8,357,000
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