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33462042
33462043

5604 17th Avenue Northeast, Seattle, WA 98105

CM
WA WA 118627
Westlake Associates, Inc.
Westlake Associates, Inc.
Listed by Westlake Associates, Inc.
$1,750,000
1 day on market
Updated 1 day ago

5604 17th Avenue Northeast

Details
Property Type Multifamily
Sub Type Student Housing, Apartment Building
Square Footage 3,900
Net Rentable (SqFt) 3,900
Units 5
Cap Rate 6.42%
NOI $112,398
Pro-Forma Cap Rate 6.42%
Pro-Forma NOI $112,398
Price per SqFt $449
Year Built 1910
Buildings 1
Lot Size (SqFt) 5,400
Zoning NR3

Ravenna House | 11 Rooms / 5 Bathrooms

Marketing description

This unique property consists of a 1910 construction 3,900 sq ft building with a mix of apartment units and rooms with shared spaces, well suited to the University/Ravenna rental market. Ravenna House is ideally positioned to meet the high demand for student housing with its proximity to the University of Washington campus, University Village, and convenient access to Sound Transit link light rail and bus lines for quick commutes to downtown Seattle.

This property offers an excellent investor opportunity to acquire a property that is primed for future appreciation in one of the city’s best rental markets and has additional value potential through renovation

Investment highlights

• Located on prestigious tree-lined Fraternity/Sorority Row

• Desirable location closer to Ravenna area

• Units well suited for the UW rental market

• Large decks with territorial views & outdoor space

• High ceilings and period charm featured in some units

• Hardie Board exterior siding and double pane vinyl windows

• Walk Score of 90 and Bike Score of 82

• Direct access to Green Lake via Ravenna Blvd

• Close to University of Washington and high-end University Village Shopping

Listing Contacts

CM
WA WA 118627
Westlake Associates, Inc.
Westlake Associates, Inc.
Listed by Westlake Associates, Inc.

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$112,398.00
$9,366.50/mo

Valuation Metrics

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DSCR
6.42%
Cap Rate
6.42%
ROI

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Additional Information

Name
Chad Martini
License
WA 118627
Brokerage Address
1200 Westlake Avenue North
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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