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Val Anne Apartments 800 Queen Anne Ave N 49 Unit Apartment Building $16,000,000 ($326,531/Unit) 4.73% Cap Rate Seattle, WA 98109
INVESTMENT HIGHLIGHTS
- Popular Queen Anne location with a walk score of 96
- Community roof-top terrace with sweeping city views
- Desirable blend of junior studios, one and two-bedroom units,
- Trophy asset with multiple value-add opportunities
- Extensively renovated in 2019
- Sweeping views from private balconies
EXECUTIVE SUMMARY
Amazing opportunity to acquire a 49 unit, fully renovated trophy asset with value-add opportunities. Extensively renovated in 2019, the Val Anne offers highly sought after classic mid-century modern units. Great unit mix of Junior Studio, 1BD, 2BD and 2 penthouse units. 19 units have views of the City Skyline and Puget Sound; in addition, 9 units enjoy private balconies. The two Penthouse units are in a league of their own with sweeping views of the city and sound and private decks. This is an exceptional opportunity for a new investor to acquire a top-quality investment offering long-term appreciation. attractive rent growth and multiple value add opportunities.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$756,961
|
$22.25
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $756,961 |
| Annual Per SF | $22.25 |
PROPERTY FACTS
| Price | $16,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $326,531 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 4.73% | Building Size | 36,732 SF |
| Gross Rent Multiplier | 11.74 | No. Stories | 5 |
| No. Units | 49 | Year Built/Renovated | 1958/2019 |
| Property Type | Multifamily | Parking Ratio | 0.79/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MR (M) | ||
| Price | $16,000,000 |
| Price Per Unit | $326,531 |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| Gross Rent Multiplier | 11.74 |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 36,732 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1958/2019 |
| Parking Ratio | 0.79/1,000 SF |
| Zoning | MR (M) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 13 | $1,388 | 420 |
| 1+1 | 32 | $1,755 | 624 |
| 2+1 | 2 | $2,050 | 680 |
| 2+2 | 1 | $3,000 | 1,180 |
| 3+2 | 1 | $4,300 | 1,720 |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 387990-0165 | Improvements Assessment | $2,325,000 |
| Land Assessment | $8,550,000 | Total Assessment | $10,875,000 |
PROPERTY TAXES
Parcel Number
387990-0165
Land Assessment
$8,550,000
Improvements Assessment
$2,325,000
Total Assessment
$10,875,000
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Val Anne Apartments | 800 Queen Anne Ave N
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