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705 Lofts 705 S Weller St 40 Unit Apartment Building For Sale Seattle, WA 98104
Investment Highlights
- Built in 2006, six-story elevator-served building w/ structured parking.
- Clear and immediately achievable mark-to-market upside
- Transit-rich infill location two blocks from the new East Link light rail extension & regional transit hub.
- Stabilized in-place cash flow on a well-maintained classic asset.
- Optional light interior renovation upside with attractive yield-on-cost economics.
- Recent CapEx includes roof overlay and elevator modernization.
Executive Summary
705 Lofts is a well-stabilized 40-unit, multifamily property with a single ground-floor commercial tenant, located at 705 South Weller Street in Seattle's International District submarket.
Property Facts
| Sale Type | Investment | Building Size | 30,719 SF |
| No. Units | 40 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built/Renovated | 2006/2008 |
| Apartment Style | Mid-Rise | Parking Ratio | 2.12/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 0.11 AC | ||
| Zoning | IDM7585 - IDM 85/85-170 (International District Mixed) — current use legally conforming | ||
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 30,719 SF |
| Average Occupancy | 97% |
| No. Stories | 6 |
| Year Built/Renovated | 2006/2008 |
| Parking Ratio | 2.12/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | IDM7585 - IDM 85/85-170 (International District Mixed) — current use legally conforming |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Bay Window
- Refrigerator
- Oven
- Range
- Views
- Wheelchair Accessible (Rooms)
Site Amenities
- Controlled Access
- On-Site Retail
- Elevator
- Online Services
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 611 - 645 |
| 1+1 | 20 | - | 706 - 824 |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 524780-2570 | Improvements Assessment | $8,940,000 |
| Land Assessment | $2,640,000 | Total Assessment | $11,580,000 |
Property Taxes
Parcel Number
524780-2570
Land Assessment
$2,640,000
Improvements Assessment
$8,940,000
Total Assessment
$11,580,000
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705 Lofts | 705 S Weller St
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