4040 8th Ave NE | Seattle, WA 98105
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- LoopNet Team
4040 8th Ave NE
Seattle, WA 98105
Normandy Apartments · Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- Located just 1.1 miles from the UW campus, a 9-minute walk from the U-District light rail station, and an 8-minute bike ride to Husky Stadium
- Effective monthly rent in Q2 ’24 averaged $2,232, up 2.1% from 2023 and 13.7% over the last five years
- Current rents at 14% below market rate; an ideal fit for a new owner to implement a full value-add program while continuing to raise rents to market
- Neighborhood has an average home value of nearly $1 million and population growth of 2.2% projected over the next five years.
- Easy access to Interstate 5 and Highway 520 connects residents to top employers including Amazon, Google, UW Medical Center, and more.
- In-unit renovations would generate an additional 14% rent premium per unit on top of current market rate
PROPERTY FACTS
| No. Units | 18 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 12,705 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1967 |
| Building Class | C | ||
| Zoning | L-2 | ||
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 12,705 SF |
| No. Stories | 3 |
| Year Built | 1967 |
| Zoning | L-2 |
AMENITIES
UNIT AMENITIES
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | $1,248 | 628 |
PROPERTY TAXES
| Parcel Number | 409230-1595 | Improvements Assessment | $1,000 |
| Land Assessment | $2,992,500 | Total Assessment | $2,993,500 |
PROPERTY TAXES
Parcel Number
409230-1595
Land Assessment
$2,992,500
Improvements Assessment
$1,000
Total Assessment
$2,993,500
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