Log In/Sign Up
Your email has been sent.
1718 Summit Ave 1718 Summit Ave 11 Unit Apartment Building $1,780,000 ($161,818/Unit) 6.18% Cap Rate Seattle, WA 98122
EXECUTIVE SUMMARY
The Investment Sales Group & Keller Williams Commercial is pleased to present 1718 Summit Avenue, a multifamily asset located in one of Seattle's most bustling and desirable neighborhoods. This secure access building offers a highly desirable mix of studio and one-bedroom units, with the added appeal of city views from the top floor. The property also includes five off-street parking spaces, a rare and valuable amenity in this prime urban core location, significantly enhancing its attractiveness to prospective tenants. The top floor units boast vaulted ceilings, offering a distinctive feature that further elevates the property's desirability.
With a stable operational history and significant upside potential through strategic renovations, this property presents an attractive opportunity for investors seeking strong long-term returns in a growing market.
1718 Summit Avenue is ideally located in one of Seattle's most bustling neighborhoods, offering unrivaled access to the city's vibrant lifestyle and amenities. This prime location, combined with the property’s unique features and strong growth potential, makes it a standout opportunity for investors looking to capitalize on Seattle’s dynamic real estate market.
With a stable operational history and significant upside potential through strategic renovations, this property presents an attractive opportunity for investors seeking strong long-term returns in a growing market.
1718 Summit Avenue is ideally located in one of Seattle's most bustling neighborhoods, offering unrivaled access to the city's vibrant lifestyle and amenities. This prime location, combined with the property’s unique features and strong growth potential, makes it a standout opportunity for investors looking to capitalize on Seattle’s dynamic real estate market.
PROPERTY FACTS
| Price | $1,780,000 | Apartment Style | Low-Rise |
| Price Per Unit | $161,818 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.18% | Building Size | 8,700 SF |
| Gross Rent Multiplier | 9.8 | Average Occupancy | 95% |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Zoning | MR, Seattle | ||
| Price | $1,780,000 |
| Price Per Unit | $161,818 |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 8,700 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1961 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | MR, Seattle |
AMENITIES
UNIT AMENITIES
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 380 |
| 1+1 | 5 | - | 500 |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (96)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 880490-0720 | Improvements Assessment | $191,000 |
| Land Assessment | $2,000,000 | Total Assessment | $2,191,000 |
PROPERTY TAXES
Parcel Number
880490-0720
Land Assessment
$2,000,000
Improvements Assessment
$191,000
Total Assessment
$2,191,000
1 of 13
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
