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Donphilita Apartments 1707 Taylor Ave N 9 Unit Apartment Building $3,695,000 ($410,556/Unit) 4.01% Cap Rate Seattle, WA 98109
INVESTMENT HIGHLIGHTS
- Beautiful Mediterranean architecture originally built in 1927
- Incredible Queen Anne location with sweeping views
- 100% occupancy with historically low vacancy and strong rental demand
- Historic renovation with all-new electrical and plumbing systems in 2017
- Upgrades include new roof, double-hung clad windows, new stucco siding
- Exceptional quality finishes throughout property
EXECUTIVE SUMMARY
This exceptional 9-unit property offers investors a rare combination of historic character and modern updates in the heart of Seattle. Originally built in 1927, it was fully renovated down to the studs in 2017. The result is a multi-family property that blends timeless charm with today's functionality.
The comprehensive historic renovation included all-new systems and finishes, such as roof, high-end windows, 100% electrical, plumbing, and exterior stucco siding. Each unit was also updated with modern interiors, creating a seamless balance of comfort and old world charm. These improvements ensure both durability and long-term value.
Currently 100% occupied, the property provides immediate stability for investors. Its central location in the coveted Queen Anne neighborhood adds to its appeal, placing residents close to Seattle's best amenities. With classic architecture and reliable infrastructure, this property is an excellent asset in the city's thriving rental market.
The comprehensive historic renovation included all-new systems and finishes, such as roof, high-end windows, 100% electrical, plumbing, and exterior stucco siding. Each unit was also updated with modern interiors, creating a seamless balance of comfort and old world charm. These improvements ensure both durability and long-term value.
Currently 100% occupied, the property provides immediate stability for investors. Its central location in the coveted Queen Anne neighborhood adds to its appeal, placing residents close to Seattle's best amenities. With classic architecture and reliable infrastructure, this property is an excellent asset in the city's thriving rental market.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$218,580
|
$34.98
|
| Other Income |
$2,400
|
$0.38
|
| Vacancy Loss |
$4,420
|
$0.71
|
| Effective Gross Income |
$216,560
|
$34.66
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$68,224
|
$10.92
|
| Net Operating Income |
$148,336
|
$23.74
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $218,580 |
| Annual Per SF | $34.98 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.38 |
| Vacancy Loss | |
|---|---|
| Annual | $4,420 |
| Annual Per SF | $0.71 |
| Effective Gross Income | |
|---|---|
| Annual | $216,560 |
| Annual Per SF | $34.66 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $68,224 |
| Annual Per SF | $10.92 |
| Net Operating Income | |
|---|---|
| Annual | $148,336 |
| Annual Per SF | $23.74 |
PROPERTY FACTS
| Price | $3,695,000 | Building Class | C |
| Price Per Unit | $410,556 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 6,249 SF |
| Cap Rate | 4.01% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2017 |
| Property Subtype | Apartment | Parking Ratio | 1.28/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LR3 | ||
| Price | $3,695,000 |
| Price Per Unit | $410,556 |
| Sale Type | Investment |
| Cap Rate | 4.01% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 6,249 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1927/2017 |
| Parking Ratio | 1.28/1,000 SF |
| Zoning | LR3 |
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Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 168940-1036 | Improvements Assessment | $632,500 (2024) |
| Land Assessment | $1,870,500 (2024) | Total Assessment | $2,503,000 (2024) |
PROPERTY TAXES
Parcel Number
168940-1036
Land Assessment
$1,870,500 (2024)
Improvements Assessment
$632,500 (2024)
Total Assessment
$2,503,000 (2024)
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Donphilita Apartments | 1707 Taylor Ave N
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