Winchester Apartments 605 E Denny Way 30 Unit Apartment Building $4,650,000 ($155,000/Unit) 5.88% Cap Rate Seattle, WA 98122

Paragon Real Estate Advisors is pleased to exclusively offer for sale the Winchester Apartments; a trophy classic-brick building in a prominent Capitol Hill location. Built in 1927 and designed by architect Louis Svarz, the Winchester Apartments sit proudly at the corner of E Denny Way and Boylston Ave E in a perfect Capitol Hill setting just blocks from Broadway. The magnificent four-story masonry building has been lovingly maintained over the years by current and past owners and showcases the incredible period detail and skilled craftsmanship that cannot be found in newer construction. The Winchester features a total of 30 apartments with a desirable mix of large studios, one-bedroom and two-bedroom floorplans. The apartments have tall ceilings, beautiful original hardwood floors, lots of windows with wonderful natural light, large walk-in closets, charming built-in storage and “breakfast nooks”, and many other characteristics that make early 1900’s construction special. The building features a secure access entry, convenient elevator service, clean and bright common laundry room, large resident storage locker area, secure bike storage room and a shop/ storage room for the building custodian.
The Winchester Apartments offer a singular opportunity to own a true trophy asset with a rich history in one of the finest rental locations in the city of Seattle. The property has been lovingly cared for by past owners and is in great condition with a very stable occupancy history. New ownership will benefit from strong future rent growth and appreciation and has several options to realize immediate income upside and ways of adding value.