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520 Summit Ave E
Seattle, WA 98102
Dakar Apartments · Multifamily Property For Sale
·
34 Units
Investment Highlights
- Average Cash Yield of 6.83%
- 91 Walk Score
- Offering Studio, One-Bedroom & Two-Bedroom Unit Floorplans
- Premium Views in Select Units
- Strong Renter Demographic with Excellent Retention
- Strong In-Place Cash Flow with Rental Upside
Executive Summary
The 34-unit multifamily property located at 520 Summit Ave E presents an attractive investment opportunity in the highly desirable Capitol Hill neighborhood of Seattle. Known for its strong rental demand, walkability, and proximity to major employment centers, Capitol Hill consistently attracts young professionals, students, and urban renters seeking convenient access to downtown Seattle, public transit, and a vibrant mix of restaurants, nightlife, and retail amenities.
The property benefits from its central location just minutes from Downtown Seattle, major transit corridors, and the Capitol Hill light rail station, providing residents with excellent connectivity throughout the region. With continued population growth, limited developable land, and historically strong occupancy rates in the submarket, the asset is well positioned to capture sustained rental demand. Investors can benefit from stable in-place income with potential upside through strategic unit renovations, operational efficiencies, and rent optimization within one of Seattle’s most supply-constrained and sought-after rental markets.
The property benefits from its central location just minutes from Downtown Seattle, major transit corridors, and the Capitol Hill light rail station, providing residents with excellent connectivity throughout the region. With continued population growth, limited developable land, and historically strong occupancy rates in the submarket, the asset is well positioned to capture sustained rental demand. Investors can benefit from stable in-place income with potential upside through strategic unit renovations, operational efficiencies, and rent optimization within one of Seattle’s most supply-constrained and sought-after rental markets.
Property Facts Under Contract
| Price Per Unit | $238,235 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| No. Units | 34 | Building Size | 19,350 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1963 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.98/1,000 SF |
| Zoning | MR (M) | ||
| Price Per Unit | $238,235 |
| Sale Type | Investment |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 19,350 SF |
| No. Stories | 5 |
| Year Built | 1963 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | MR (M) |
Amenities
Unit Amenities
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
Site Amenities
- Controlled Access
- Laundry Facilities
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $1,334 | 400 |
| 1+1 | 26 | $1,674 | 650 - 700 |
| 2+1 | 4 | $1,992 | 900 |
Property Taxes
| Parcel Number | 684820-0391 | Improvements Assessment | $3,244,000 |
| Land Assessment | $4,320,000 | Total Assessment | $7,564,000 |
Property Taxes
Parcel Number
684820-0391
Land Assessment
$4,320,000
Improvements Assessment
$3,244,000
Total Assessment
$7,564,000
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Dakar Apartments | 520 Summit Ave E