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Capitol Core 215 Boylston Ave E 17 Unit Apartment Building $4,680,000 ($275,294/Unit) 4.27% Cap Rate Seattle, WA 98102



INVESTMENT HIGHLIGHTS
- Prime Turnkey Seattle Investment Opportunity - newer vintage six story apartment community located in Seattle's iconic Capitol Hill.
- Convenient Tenant Amenities -amenities such as an in-unit washer & dryer, stainless steel appliances, vinyl hardwood flooring, and quartz countertops
- Exempt from State Rent Control – Built in 2016, Capitol Core is exempt from Washington’s rent control regulations.
EXECUTIVE SUMMARY
Capitol Core is an exceptional 17-unit six story apartment community located at 215 Boylston Ave E in Seattle's popular Capitol Hill neighborhood.
Situated on a 2,631 square foot parcel of land, the subject property was originally built in 2017 with a Built Green 4 Star certification. Capitol Core features a building area of roughly 5,899 square feet offering tenants modern studio floor plans. Tenants enjoy convenient amenities such as an in-unit washer and dryer, stainless steel appliances, vinyl hardwood flooring, quartz countertops, and private rooftop decks in select units.
Capitol Hill is a chic neighborhood just northeast of Downtown Seattle offering a wide array of restaurants, bars, boutiques, breweries, and other lifestyle amenities all within walking distance of the subject property. The neighborhood offers a tight knit atmosphere while being just minutes from the vibrant tourist hotspots in Downtown Seattle.
Capitol Core also features close proximity to a multitude of transportation corridors such as Interstate 5, State Route 520, and the Capitol Hill Light Rail Station, offering tenants convenient access to Downtown Seattle, the University of Washington, Bellevue, and other attractive locations.
The investment appeal of this asset is driven by Seattle's strong employment fundamentals and low vacancy levels. With a world class location in the heart of Seattle, Capitol Core presents an attractive choice for investors due to its convenient tenant amenities and close proximity to countless high-end shopping, dining, and entertainment options.
Situated on a 2,631 square foot parcel of land, the subject property was originally built in 2017 with a Built Green 4 Star certification. Capitol Core features a building area of roughly 5,899 square feet offering tenants modern studio floor plans. Tenants enjoy convenient amenities such as an in-unit washer and dryer, stainless steel appliances, vinyl hardwood flooring, quartz countertops, and private rooftop decks in select units.
Capitol Hill is a chic neighborhood just northeast of Downtown Seattle offering a wide array of restaurants, bars, boutiques, breweries, and other lifestyle amenities all within walking distance of the subject property. The neighborhood offers a tight knit atmosphere while being just minutes from the vibrant tourist hotspots in Downtown Seattle.
Capitol Core also features close proximity to a multitude of transportation corridors such as Interstate 5, State Route 520, and the Capitol Hill Light Rail Station, offering tenants convenient access to Downtown Seattle, the University of Washington, Bellevue, and other attractive locations.
The investment appeal of this asset is driven by Seattle's strong employment fundamentals and low vacancy levels. With a world class location in the heart of Seattle, Capitol Core presents an attractive choice for investors due to its convenient tenant amenities and close proximity to countless high-end shopping, dining, and entertainment options.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,680,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $275,294 | Building Class | A |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 4.27% | Building Size | 8,949 SF |
| Gross Rent Multiplier | 16.03 | Average Occupancy | 100% |
| No. Units | 17 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2016 |
| Property Subtype | Apartment | Parking Ratio | 0.56/1,000 SF |
| Zoning | MR | ||
| Price | $4,680,000 |
| Price Per Unit | $275,294 |
| Sale Type | Investment |
| Cap Rate | 4.27% |
| Gross Rent Multiplier | 16.03 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 0.06 AC |
| Building Size | 8,949 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 2016 |
| Parking Ratio | 0.56/1,000 SF |
| Zoning | MR |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Stainless Steel Appliances
- Range
- Tub/Shower
- Lawn
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 17 | - | 374 - 600 |
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Walk Score®
Walker's Paradise (98)
Transit Score®
Excellent Transit (86)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 314860-0150 | Total Assessment | $4,015,000 |
| Land Assessment | $1,052,400 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,962,600 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
314860-0150
Land Assessment
$1,052,400
Improvements Assessment
$2,962,600
Total Assessment
$4,015,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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