Listed by Kidder Mathews Seattle, Northmarq Capital, LLC
$5,490,000
509 Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Units 19
Year Built 1968
Buildings 1
Stories 3
Parking Spaces 17 spaces
Multifamily | 19 Units | $288,947/unit
Investment highlights
A+ Capitol Hill Location
Located in the heart of 19th Ave E retail corridor, just steps from some of the city’s top restaurants and bars.
Future Redevelopment Potential
Situated on a 16,800 SF parcel with NC155(M) zoning, 509 presents an excellent redevelopment and land-bank opportunity
Strong Cash-Flow
In-place operations provide steady and strong cash flow, with upside to increase rents while awaiting redevelopment.
Building Quality
With spacious units averaging 700 SF, plenty of parking, and updates to key building systems, 509 checks nearly every box for a perfect value-add asset.
Listing Contacts
Listed by Kidder Mathews Seattle, Northmarq Capital, LLC
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