Listed by CBRE - Seattle
$2,325,000
University Heights Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 5,300
Units 6
Cap Rate 5.49%
Occupancy 100%
Tenancy Multi
Year Built 1918
Year Renovated 2021,2022
Buildings 1
Stories 2
Lot Size (SqFt) 4,120
Zoning LR3
Parking Spaces spaces
Investment Type Value Add
Sale Condition For sale by owner
U - District Asset 6 Units
Marketing description
CBRE is pleased to present the University Heights Apartments, a fully renovated six-unit multifamily asset located in Seattle’s thriving University District. This turn-key investment offers strong in-place cash flow with a 5.49% cap rate and a rare opportunity to acquire a boutique property featuring large, spacious units—five two-bedrooms and one one-bedroom—each fully remodeled to a premium standard in 2021–2022. Each unit showcases modern finishes including white shaker cabinetry, solid surface countertops, and stainless-steel appliances. Recent capital improvements include a new roof, windows, exterior paint, and updated plumbing and electrical systems, ensuring minimal near-term maintenance
Investment highlights
- Turn-key asset with excellent cash flow
- Large, spacious units (5 2-bedroom units, 1 1-bedroom)
- Kitchens feature white shaker cabinets, solid surface counters and stainless-steel appliances
- Updated plumbing and electrical
- Walking distance to shops and restaurants
- Well located in dynamic University District neighborhood
- All units fully remodeled to premium scope
- New roof, windows, and paint
- 0.5 mile to U-District light rail station
- Assumable financing at 5.5% interest-only for two years fixed for four years
Listing Contacts
Listed by CBRE - Seattle
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