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Linden Apartments 4400 Linden Ave N 8 Unit Apartment Building $1,998,000 ($249,750/Unit) 5.48% Cap Rate Seattle, WA 98103
Investment Highlights
- Attractive Unit Mix in Prime Fremont Location
- Partially Renovated with Remaining Value-Add Upside
- Utility Reimbursement Upside
- Significant Recent Capital Improvements
- Clear NOI Growth Opportunity
- Additional Market-Standard Income Streams
Executive Summary
Linden is an eight-unit multifamily property located in Seattle’s highly desirable Fremont neighborhood, offering residents convenient access to Aurora Avenue, Fremont Avenue’s retail and dining corridor, and notable outdoor amenities including Woodland Park, Gas Works Park, and Green Lake Park. The property features a unit mix of two 1-bedroom/1-bath units and six 2-bedroom/1-bath units averaging 644 square feet, and current ownership has invested more than $200,000 in capital improvements, including a new roof, exterior paint, electrical panel replacements, and interior renovations to six units. With rents currently estimated to be approximately 10% below market and additional upside through increased utility reimbursement, pet rent, and parking income, Linden Apartments offers investors the opportunity to acquire a mostly renovated asset with both in-place stability and further value-add potential.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $1,998,000 | Building Class | C |
| Price Per Unit | $249,750 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 5,150 SF |
| Cap Rate | 5.48% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.55/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LR2 (M) | ||
| Price | $1,998,000 |
| Price Per Unit | $249,750 |
| Sale Type | Investment |
| Cap Rate | 5.48% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,150 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1965/2024 |
| Parking Ratio | 1.55/1,000 SF |
| Zoning | LR2 (M) |
Amenities
Unit Amenities
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 475 |
| 2+1 | 6 | - | 700 |
1 1
Exceptionally walkable
90/100
Fairly drivable
40/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 569400-0565 | Improvements Assessment | $655,000 |
| Land Assessment | $1,100,000 | Total Assessment | $1,755,000 |
Property Taxes
Parcel Number
569400-0565
Land Assessment
$1,100,000
Improvements Assessment
$655,000
Total Assessment
$1,755,000
Contacts
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Chad Blenz -
Mitchell Belcher -
Steven Chattin -
Jay Timpani -
Brandon Lawler -
Berkadia
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Linden Apartments | 4400 Linden Ave N
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