1600 E Spring St | Seattle, WA 98122
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- LoopNet Team
1600 E Spring St
Seattle, WA 98122
Ione Court · Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Implement higher scope value-add program to capitalize on area’s rental demand
- In-place rent nearly 10% below market rate
- 10 spacious one-bed/one-bath units in primarily classic condition
- $2,095 per month average effective rent in 1Q23 in Central District, up 5.4% year over year
- Steps from Seattle University, Capitol Hill Light Rail Station, Pike/Pine Corridor, the city’s largest employers, and popular amenities
PROPERTY FACTS
| No. Units | 10 | Building Size | 6,340 SF |
| Property Type | Multifamily | Average Occupancy | 40% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1950 |
| Lot Size | 0.17 AC | ||
| Zoning | LR3 (M) | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.17 AC |
| Building Size | 6,340 SF |
| Average Occupancy | 40% |
| No. Stories | 2 |
| Year Built | 1950 |
| Zoning | LR3 (M) |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | $1,676 | 634 |
PROPERTY TAXES
| Parcel Number | 723460-0665 | Improvements Assessment | $228,000 |
| Land Assessment | $1,980,000 | Total Assessment | $2,208,000 |
PROPERTY TAXES
Parcel Number
723460-0665
Land Assessment
$1,980,000
Improvements Assessment
$228,000
Total Assessment
$2,208,000
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