823 Madison St
Seattle, WA 98104
The Madison · Multifamily Property For Sale
·
73 Units
Property Facts
| No. Units | 73 | Lot Size | 0.33 AC |
| Property Type | Multifamily | Construction Status | Demolished |
| Property Subtype | Apartment | Building Size | 46,612 SF |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | B | Year Built/Renovated | 1902/1997 |
| Zoning | NC3160, Seattle | ||
| No. Units | 73 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.33 AC |
| Construction Status | Demolished |
| Building Size | 46,612 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1902/1997 |
| Zoning | NC3160, Seattle |
Amenities
Site Amenities
- Controlled Access
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Elevator
About 823 MADISON ST , SEATTLE, WA 98104
The Madison is a mixed use 73-unit LIHTC property with 4,650 sqft of retail space, located in Seattle, WA. The property was originally constructed in 1902 as a hotel and renovated with Tax Credits and Bond refinancing in 1997 and now offers studio and one bedroom apartments to income qualifying residents. The Madison was placed in service in 1998 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% and 60% of Area Medium Income (AMI) limits, which are provided by the Washington State Housing Finance Commission. The property is beyond its initial tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordability restrictions. Residents benefit from community amenities such as an on-site laundry facility, secure entry, elevator, and on-site management.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | $924.00 | 365 - 367 |
| 1+1 | 62 | $990.00 | 459 - 489 |
Property Taxes
| Parcel Number | 859040-0910 | Improvements Assessment | $173,900 |
| Land Assessment | $1,063,500 | Total Assessment | $1,237,400 |
Property Taxes
