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5631 California Ave SW
Seattle, WA 98136
EOS Apartments · Multifamily Property For Sale
·
15 Units
Investment Highlights
- Turnkey mixed use asset with 15 fully leased residential units and 4 fully leased street level retail spaces
- Located in the heart of the West Seattle Junction on California Avenue, a highly walkable and supply constrained mixed use submarket
- Condo like residential units with in unit washer and dryers, large balconies, gas fireplaces, and modern finishes
- Offered at an in place 6.00% cap rate providing strong in place cash flow and long term value growth
- Fully occupied street retail with excellent visibility along California Avenue SW - 1/2 block from Rapid Ride stop
- Stainless steel appliances, stone countertops, and LVT flooring throughout units
Executive Summary
Fully renovated, turnkey mixed-use asset located in the heart of the West Seattle Junction, The EOS consists of 15 luxury apartments situated above four fully leased retail spaces, offering a diversified income stream in a premier urban location. All 2BD units with W/D, balconies, and modern interior finishes. 17 open and covered residential parking spaces located at the rear of the building and 8 open commercial parking spaces at the front of the property. Built in 1980 and renovated, EOS offers investors a true turnkey ownership opportunity with a low maintenance profile. The building features an elevator, renovated formal lobby, Amazon package lockers, copper plumbing, newer lower roof, and freshly upgraded common areas. Located just steps from the West Seattle Junction’s premier restaurants, shops, and cafes, this asset is priced at an in-place 6.00 percent cap rate, providing strong in place cash flow with long term value growth driven by transit-oriented development
Property Facts
| Price Per Unit | $513,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6% | Building Size | 23,932 SF |
| No. Units | 15 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | LR3 RC (M) | ||
| Price Per Unit | $513,333 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 23,932 SF |
| No. Stories | 4 |
| Year Built | 1980 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | LR3 RC (M) |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- On-Site Retail
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | 1,012 |
| 2+2 | 14 | - | 1,012 |
Property Taxes
| Parcel Number | 762570-1430 | Improvements Assessment | $4,251,000 |
| Land Assessment | $2,250,000 | Total Assessment | $6,501,000 |
Property Taxes
Parcel Number
762570-1430
Land Assessment
$2,250,000
Improvements Assessment
$4,251,000
Total Assessment
$6,501,000
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