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27926735
27926736

1718 Summit Ave, Seattle, WA 98122

EB
WA WA 117941, WA 117941
COMPASS Real Estate
CC
WA WA 26492
Crain Real Estate
Listed by COMPASS Real Estate, Crain Real Estate
$1,699,000
218 days on market
Updated 1 day ago

1718 Summit Ave

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,785
Units 11
Cap Rate 6.93%
NOI $117,784
Occupancy 95%
Pro-Forma Cap Rate 8.87%
Pro-Forma NOI $150,624
Price per SqFt $355
Year Built 1961
Year Renovated 1961
Buildings 1
Stories 3
Lot Size (SqFt) 5,000
Zoning MR
Parking Spaces 5 spaces
Parking Per SqFt 1.04

Multifamily | 11 Units | $154,454/unit

Marketing description

The Investment Sales Group & Keller Williams Commercial is pleased to present 1718 Summit Avenue, a

multifamily asset located in one of Seattle's most bustling and desirable neighborhoods. This secure

access building offers a highly desirable mix of studio and one-bedroom units, with the added appeal of

city views from the top floor. The property also includes five off-street parking spaces, a rare and

valuable amenity in this prime urban core location, significantly enhancing its attractiveness to

prospective tenants. The top floor units boast vaulted ceilings, offering a distinctive feature that further

elevates the property's desirability.

With a stable operational history and significant upside potential through strategic renovations, this

property presents an attractive opportunity for investors seeking strong long-term returns in a growing

market.

1718 Summit Avenue is ideally located in one of Seattle's most bustling neighborhoods, offering unrivaled

access to the city's vibrant lifestyle and amenities. This prime location, combined with the property’s

unique features and strong growth potential, makes it a standout opportunity for investors looking to

capitalize on Seattle’s dynamic real estate market.

Investment highlights

Listing Contacts

EB
WA WA 117941, WA 117941
COMPASS Real Estate
CC
WA WA 26492
Crain Real Estate
Listed by COMPASS Real Estate, Crain Real Estate

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$117,784.00
$9,815.33/mo

Valuation Metrics

0
DSCR
6.93%
Cap Rate
6.93%
ROI

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Additional Information

Name
Erich Bubbel
License
WA 117941
Brokerage
Compass
Brokerage Phone
206-399-3285
Name
Corey Crain
License
WA 26492
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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