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900 SW Holden St 23 Unit Apartment Building $4,825,000 ($209,783/Unit) 5.68% Cap Rate Seattle, WA 98106
Investment Highlights
- Proven Renovation Premium
- Highly Marketable Unit MIx
- Clear Path to Rent Growth
Executive Summary
Cushman & Wakefield Multifamily Capital Markets is pleased to present an exclusive opportunity to acquire Holden Apartments, 23-unit value-add multifamily community in the West Seattle submarket.
The offering is distinguished by a proven renovation premium: a renovated two-bedroom unit is currently leased and occupied at $2,500, a $660 monthly lift over the in-place two-bedroom average. This completed unit establishes both the achievable finish level and the rent it commands, de-risking the renovation plan for the remaining 22 units.
The offering is distinguished by a proven renovation premium: a renovated two-bedroom unit is currently leased and occupied at $2,500, a $660 monthly lift over the in-place two-bedroom average. This completed unit establishes both the achievable finish level and the rent it commands, de-risking the renovation plan for the remaining 22 units.
Property Facts
| Price | $4,825,000 | Building Class | C |
| Price Per Unit | $209,783 | Lot Size | 0.58 AC |
| Sale Type | Investment | Building Size | 16,914 SF |
| Cap Rate | 5.68% | Average Occupancy | 96% |
| No. Units | 23 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | ||
| Zoning | LR2 | ||
| Price | $4,825,000 |
| Price Per Unit | $209,783 |
| Sale Type | Investment |
| Cap Rate | 5.68% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 16,914 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1967 |
| Zoning | LR2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | 693 |
| 2+1 | 5 | - | 724 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 211470-0295 | Improvements Assessment | $2,942,000 |
| Land Assessment | $1,882,000 | Total Assessment | $4,824,000 |
Property Taxes
Parcel Number
211470-0295
Land Assessment
$1,882,000
Improvements Assessment
$2,942,000
Total Assessment
$4,824,000
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