Klahowya Apartments
10 Stabilized Units in Queen Anne
Marketing description
Klahowya offers a rare opportunity to acquire a fully stabilized, 10-unit multifamily asset positioned at the nexus of Queen Anne, Ballard, and Fremont—three of Seattle’s most consistently high-demand residential neighborhoods—with direct access to the city’s employment hubs in South Lake Union and Downtown Seattle.
Current ownership has already done the heavy lifting: a fully permitted 10th studio unit has been added to the rent roll, the majority of units have been upgraded, and the property operates at 100% occupancy with zero delinquency. There is no distress no deferred maintenance no vacant units requiring urgency. What’s left is a clean, professionally positioned asset with a clearly defined path to incremental value creation, and a submarket that rewards this type of asset.
For the next investor, completing the interior renovation program—already validated by the current ownership’s partial upgrades—delivers proven rent premiums with low execution risk. At the $2M–$4M price point, competing inventory in the Seattle market is virtually nonexistent, providing both acquisition scarcity and durable long-term hold value. For investors seeking a stabilized, income-producing asset with defined upside and submarket defensibility, Klahowya checks each box.
Investment highlights
- A+ Seattle Location: Situated between Queen Anne, Ballard, and Fremont with direct access to South Lake Union, Downtown Seattle, and a bus stop at the front door.
- 100% Occupied, Zero Delinquency: Fully stabilized with no delinquency and no immediate CapEx requirements; day-one cash flow with minimal execution risk.
- Well-Sized Unit Mix: Nine units averaging 738 SF across a mix of one-bedroom and two-bedroom floor plans, larger than typical urban products. A 10th unit is already on the rent roll, providing more density without entitlement risk or development timeline uncertainty.
- Clear Value-Add Runway: Partial renovations have been completed and are already proving rent premiums; finishing the interior program is a low-risk, high-confidence path to additional NOI.
- Untapped Income Streams: Parking is currently bundled into rent, storage income is unformalized, and RUBs collections have room to grow, creating three actionable opportunities to further income.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
