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32275222
32275223

215 Boylston Avenue East, Seattle, WA 98102 For Sale

RJ
CA 01853816, CA CA 01853816
Marcus & Millichap - Palo Alto
AL
CA 01462752
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$3,795,000
76 days on market
Updated 75 days ago

Capitol Core - 215 Boylston Avenue East

Details
Property Type Multifamily
Square Footage 8,102
Units 17
Cap Rate 4.69%
NOI $178,033
Year Built 2016
Buildings 1
Acreage 2631.000
Investment Type Stabilized

Rare Capitol Hill Offering | 17 Modern Units Built in 2016 | Strong Rental Demand

Marketing description

Capitol Core is an exceptional 17-unit six story apartment community located at 215 Boylston Ave E in Seattle's popular Capitol Hill neighborhood.

Situated on a 2,631 square foot parcel of land, the subject property was originally built in 2016 with a Built Green 4 Star certication. Capitol Core features a building area of roughly 5,899 square feet offering tenants modern studio oor plans. Tenants enjoy convenient amenities such as an in-unit washer and dryer, stainless steel appliances, vinyl hardwood ooring, quartz countertops, and private rooftop decks in select units.

Capitol Hill is a chic neighborhood just northeast of Downtown Seattle offering a wide array of restaurants, bars, boutiques, breweries, and other lifestyle amenities all within walking distance of the subject property. The neighborhood offers a tight knit atmosphere while being just minutes from the vibrant tourist hotspots in Downtown Seattle.

Capitol Core also features close proximity to a multitude of transportation corridors such as Interstate 5, State Route 520, and the Capitol Hill Light Rail Station, offering tenants convenient access to Downtown Seattle, the University of Washington, Bellevue, and other attractive locations.

The investment appeal of this asset is driven by Seattle's strong employment fundamentals and low vacancy levels. With a world class location in the heart of Seattle, Capitol Core presents an attractive choice for investors due to its convenient tenant amenities and close proximity to countless high-end shopping, dining, and entertainment options.

Investment highlights

  • Prime Turnkey Seattle Investment Opportunity - Investors have the opportunity to acquire a newer vintage six story apartment community located in Seattle's iconic Capitol Hill neighborhood.
  • Exempt from State Rent Control – Built in 2016, Capitol Core is exempt from Washington’s rent control regulations, allowing for greater operational exibility.
  • Convenient Tenant Amenities - The subject property features convenient tenant amenities such as an in-unit washer and dryer, stainless steel appliances, vinyl hardwood ooring, quartz countertops, and private rooftop decks in select units.
  • Beautifully Designed Modern Floor Plans - Capitol Core features beautifully designed studio oor plans with large windows maximizing natural light, as well as a private rooftop deck and loft in select units.
  • Major Transportation Corridors - The subject property offers close proximity to major transportation corridors including Interstate 5, State Route 520, and the Capitol Hill Light Rail Station.

Listing Contacts

RJ
CA 01853816, CA CA 01853816
Marcus & Millichap - Palo Alto
AL
CA 01462752
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$178,033.00
$14,836.08/mo

Valuation Metrics

0
DSCR
4.69%
Cap Rate
4.69%
ROI

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Additional Information

Name
Joel Deis
License
WA 25469
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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