Dover Apartments 901 6th Ave 59 Unit Apartment Building For Sale Seattle, WA 98104
INVESTMENT HIGHLIGHTS
- Well-maintained Property with significant systems and structural updates completed by current ownership
- Easily walkable to Seattle’s core technology employers including Google, Apple, and Amazon
- Convenient access to major roads and public transit including 2-block drive from nearest I-5 on-ramp
- Seller financing available (see financial analysis section in OM for more detail)
- Unrivaled access to Seattle’s healthcare industry and centers of higher education
- Excellent neighborhood demographics support future rent growth
EXECUTIVE SUMMARY
JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire The Dover, an apartment community located in downtown Seattle’s Central Business District.
Built in 1907, The Dover Apartments (the “Property” or “Subject”) is a 59-unit mid-rise apartment community located in the downtown Seattle core and is walkable to a host of the largest employers in the region. The Property consists of thirty studios, sixteen 1-bedroom 1-bathroom units, six 2-bedroom 1-bathroom units, and seven 3-bedroom 1-bathroom units, with the opportunity to add an additional 60th studio unit that is currently an unleased storage area.
New ownership stands to benefit from the Property’s proximity to Seattle’s core technology employers, nationally acclaimed healthcare facilities, and centers of higher education. Ideally located along the I-5 corridor just 2 blocks from the nearest on-ramp, the Property offers unrivaled accessibility to the broader Puget Sound region. Residents enjoy the advantages of urban living at The Dover, including access to over 9 million square feet of retail within a one-mile radius. Additionally, current ownership is offering attractive seller financing, providing future owners with accommodating terms (see financial analysis section in OM for more detail).
Built in 1907, The Dover Apartments (the “Property” or “Subject”) is a 59-unit mid-rise apartment community located in the downtown Seattle core and is walkable to a host of the largest employers in the region. The Property consists of thirty studios, sixteen 1-bedroom 1-bathroom units, six 2-bedroom 1-bathroom units, and seven 3-bedroom 1-bathroom units, with the opportunity to add an additional 60th studio unit that is currently an unleased storage area.
New ownership stands to benefit from the Property’s proximity to Seattle’s core technology employers, nationally acclaimed healthcare facilities, and centers of higher education. Ideally located along the I-5 corridor just 2 blocks from the nearest on-ramp, the Property offers unrivaled accessibility to the broader Puget Sound region. Residents enjoy the advantages of urban living at The Dover, including access to over 9 million square feet of retail within a one-mile radius. Additionally, current ownership is offering attractive seller financing, providing future owners with accommodating terms (see financial analysis section in OM for more detail).
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 59 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 56,821 SF |
| No. Stories | 5 |
| Year Built | 1907 |
| Zoning | DOC1, City/Seattle |
AMENITIES
UNIT AMENITIES
- Storage Space
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Recycling
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 30 | - | 323 |
| 1+1 | 16 | - | 508 |
| 2+1 | 6 | - | 818 |
| 3+1 | 7 | - | 901 |
1 of 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 094200-0460 | Improvements Assessment | $5,387,000 |
| Land Assessment | $8,520,000 | Total Assessment | $13,907,000 |
