Claremont Apartments 3315 Claremont Ave S 5 Unit Apartment Building $1,850,000 ($370,000/Unit) 5.60% Cap Rate Seattle, WA 98144

Paragon Real Estate Advisors is pleased to present the Claremont Apartments. The Claremont combines the durability of 1990s construction with the appeal of a full, top-to-bottom renovation—creating a turnkey multifamily investment with meaningful rental upside. Modern building systems and comprehensive updates translate to minimal near-term capital expenditures and easy day-to-day management. At the same time, current in-place rents remain below prevailing market levels for renovated apartments in the Columbia City/Mount Baker area, presenting a clear opportunity to increase income as leases roll and demand for well-finished units continues to grow.
The renovation program was extensive and designed to position the property for long-term stability. Interior upgrades include new modern kitchens with stainless steel appliances, quartz countertops, updated cabinetry, and contemporary lighting; refreshed bathrooms with new vanities, tubs, surrounds, fixtures and finishes; durable LVP flooring; blinds and updated paint throughout. Four of the units have a deck, the exterior grounds have been well kept, and an exterior common patio space is available for tenant use.
Ideally located in South Seattle’s Columbia City/Mount Baker corridor, the property sits just two blocks from the Mount Baker Link Light Rail Station and the Mount Baker Transit Center, putting downtown Seattle only about 12–15 minutes away by light rail and Sea-Tac Airport within 20–25 minutes. Drivers benefit from quick access to Rainier Avenue S and I-5, with downtown reachable in roughly 10–15 minutes. Residents also enjoy the lively Columbia City dining, retail scene, and nearby green spaces such as Cheasty Greenspace and York Park.