MLS #2482505 / Listing provided by NWMLS & Kidder Mathews.
$3,375,000
416 Summit Avenue E
Seattle,
WA
98102
Sq Ft
Per Sq Ft
Year Built
A profitable, character-rich multifamily asset in highly desirable Capitol Hill neighborhood. Built in 1928, this well-maintained wood-frame property features 11 corner units (9 1-beds and 2 2-beds) each offering abundant natural light and spacious floor plans with dining areas and mulitple large closets. Property features old-world charm and all units are fully remodeled or new. Updated Square D panels and main service also appears to have been updated. Bathroom plumbing updates have been made on turnover. Select units feature walk-in closets, dining areas, and/or updated countertops. West facing top-floor units offer views of Downtown Seattle/Space Needle. Stable cash flow, historically low vacancy rates, and 6 parking spaces. With a walk score of 96, residents are near transit, restaurants, groceries, parks, and major employers. The property offers compelling value-add upside with multiple strategies: add a 12th unit in the existing building, retain the existing structure and add new units in the current parking area, or pursue a full redevelopment of the MR-zoned parcel, which can accommodate an estimated ±50-unit building (buyer to verify). Irreplaceable 1920s craftsmanship, dependable performance, and meaningful future potential, the Oriana Apartments stands as an exceptional opportunity in one of Seattle’s most dynamic and amenity-rich urban neighborhoods.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: No
Parking
- Garage Spaces: 0
- Total Uncovered Parking Spaces: 6
Structure
- Roof: Flat
- Exterior Features: Brick
- Foundation: Poured Concrete
Lot Details
- Lot Features: Alley, Curbs, Paved, Sidewalk
- Acres: 0.1653
- Foundation: Poured Concrete
Schools
- High School District: Seattle
- High School: Garfield High
- Middle School: Meany Mid
- Elementary School: Lowell
Lot Details
- Lot Features: Alley, Curbs, Paved, Sidewalk
- Acres: 0.1653
- Foundation: Poured Concrete
Power
- Energy Source: Electric, Natural Gas
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 21636
James White
Broker | REALTOR®
Send James White an email