814 E Howe St 5 Unit Apartment Building $1,985,000 ($397,000/Unit) 4.62% Cap Rate Seattle, WA 98102

814 E Howe Street offers a serene, parklike setting, while providing convenient access to the South Lake Union and Downtown Seattle employment centers, as well as easy access to Interstate 5, State Route 520, and Eastside employers. The property has undergone a variety of system updates and remodeling efforts in the past 15 years. These include updates to the sewer, plumbing, and main water line systems, as well as the construction of new retaining walls and the installation of a new patio. Significant renovations have been made to three of the five units, while the other two apartments have benefited from some updates and upgrades. Additionally, in 2023, the common laundry room was updated with new machines. Any of the three oversized two-bedroom homes would make for an excellent Lake Union view owner-occupant opportunity. Units showcase classic oak floors, 9-foot ceilings, and updated dual-pane windows. Select units boast remodeled kitchens, new baths, and the added convenience of in-unit laundry. Multiple apartments offer sweeping views of Lake Union and the city skyline. Parking is provided via a two-vehicle garage and three additional off-street spaces. While profitable in its current operations, the new operator of 814 E Howe Street will have the likely opportunity for 10%+ upside in the form of raised rents, charging for parking, and implementing a utility bill-back program. (Notes: Open 1-bed unit is legally a studio. The two 2-bed/1-bath units also feature dens. Seller prefers Chicago Title for title and escrow. Buyer to verify all information.)