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2215 Yale Ave E
Seattle, WA 98102
Eastlake Triplex · Multifamily Property For Sale
·
3 Units
Investment Highlights
- 2BD/2BTH unit with an attractive layout and a deck with views of Lake Union – 1,100 square feet
- Extremely Low Historical Vacancy Level
- The private rooftop deck has breath taking, panoramic 180 degree views of Lake Union, Downtown Seattle, Gas Works Park
- In Unit Washer/Dryer and Copper plumbing throughout
Executive Summary
The property has a unique unit mix comprised of a 1BD/1BTH unit with a patio, a 2BD/2BTH unit with a deck and a penthouse unit that is a 2BD/2BTH plus an office loft. The penthouse is a townhouse style unit with a deck off the main floor and a second deck on the roof with an office attached to it. The middle unit has peak-a-boo views of Lake Union and the penthouse main floor deck and rooftop deck have panoramic 180 degree views of Lake Union, Downtown Seattle, and Gas Works Park. The penthouse unit is perfect for an owner-occupant or can be rented for significant rental income. The property provides opportunities to add value and capture significant rental upside by performing cosmetic touches to the well maintained, spacious units. The ground level 1BD/1BTH is believed to be a non-conforming unit. The Eastlake neighborhood is in a central location as it is only a 5-minute drive to Downtown, The University of Washington, Capitol Hill, and Queen Anne. The property is located one block off Eastlake Ave E where residents enjoy an array of shops, services, and dining options.
Property Facts
| Price Per Unit | $491,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 5.38% | Building Size | 2,880 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1916 |
| Zoning | LR3 (M) | ||
| Price Per Unit | $491,667 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Lot Size | 0.08 AC |
| Building Size | 2,880 SF |
| No. Stories | 2 |
| Year Built | 1916 |
| Zoning | LR3 (M) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,950 | 480 |
| 2+2 | 2 | $3,500 | 1,100 - 1,300 |
Property Taxes
| Parcel Number | 290220-0416 | Improvements Assessment | $1,000 |
| Land Assessment | $1,369,000 | Total Assessment | $1,370,000 |
Property Taxes
Parcel Number
290220-0416
Land Assessment
$1,369,000
Improvements Assessment
$1,000
Total Assessment
$1,370,000
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