Log In/Sign Up
Your email has been sent.
Harlow Heights 4351 15th Ave S 39 Unit Apartment Building For Sale Seattle, WA 98108
Investment Highlights
- ~$200K NOI Upside Through Simple Operational Improvements
- Large Unit Premium
- Stable, Diversified Income Stream
- Newer Construction, Minimal CapEx
- Below Replacement Cost Basis
- Operational Efficiency
Executive Summary
Cushman & Wakefield Multifamily Capital Markets is pleased to present an exclusive opportunity to acquire Harlow Heights, a newer construction, institutional-quality asset in one of Seattle’s most supply constrained urban neighborhoods, combining durable in-place cash flow with clear, steady upside.
The investment is anchored by high-quality construction, large unit layouts, and structured parking, all of which differentiate the asset from the surrounding housing stock in Beacon Hill. Combined with west-facing views toward Puget Sound and the Olympic Mountains, the property delivers a level of product quality that is difficult to replicate today—particularly at its basis.
Investors benefit from below-market in-place rents with a clear path to mark units to market through natural lease rollover, alongside additional upside from operational optimization and ancillary income expansion – including parking, utility reimbursements, and in-place commercial income. With limited near-term capital requirements, the asset provides a clean, predictable cash flow profile with multiple levers to drive NOI growth over time.
Harlow Heights is offered well below replacement cost, in a submarket where new development is effectively stalled due to elevated construction costs and entitlement challenges. This creates a compelling setup where existing assets are positioned to capture future rent growth without new competitive supply, supporting long-term NOI expansion and value appreciation.
The investment is anchored by high-quality construction, large unit layouts, and structured parking, all of which differentiate the asset from the surrounding housing stock in Beacon Hill. Combined with west-facing views toward Puget Sound and the Olympic Mountains, the property delivers a level of product quality that is difficult to replicate today—particularly at its basis.
Investors benefit from below-market in-place rents with a clear path to mark units to market through natural lease rollover, alongside additional upside from operational optimization and ancillary income expansion – including parking, utility reimbursements, and in-place commercial income. With limited near-term capital requirements, the asset provides a clean, predictable cash flow profile with multiple levers to drive NOI growth over time.
Harlow Heights is offered well below replacement cost, in a submarket where new development is effectively stalled due to elevated construction costs and entitlement challenges. This creates a compelling setup where existing assets are positioned to capture future rent growth without new competitive supply, supporting long-term NOI expansion and value appreciation.
Property Facts
| Sale Type | Investment | Lot Size | 0.33 AC |
| No. Units | 39 | Building Size | 49,031 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2016 |
| Building Class | A | ||
| Zoning | NC1-55 (M) | ||
| Sale Type | Investment |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 0.33 AC |
| Building Size | 49,031 SF |
| Average Occupancy | 95% |
| No. Stories | 4 |
| Year Built | 2016 |
| Zoning | NC1-55 (M) |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Eat-in Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
- Island Kitchen
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- Controlled Access
- Courtyard
- Disposal Chutes
- Dry Cleaning Service
- On-Site Retail
- Storage Space
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | 342 - 521 |
| 1+1 | 6 | - | 689 |
| 2+2 | 9 | - | 1,025 |
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 367940-0970 | Improvements Assessment | $12,999,600 |
| Land Assessment | $1,882,400 | Total Assessment | $14,882,000 |
Property Taxes
Parcel Number
367940-0970
Land Assessment
$1,882,400
Improvements Assessment
$12,999,600
Total Assessment
$14,882,000
1 of 36
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
