221 Belmont Ave
Seattle WA 98102
The Strand
221 Belmont Ave Seattle WA 98102
Listing #: 703356 | Status: Pending | Last Modified: 4/14/2026 |
For Sale
- Phone:(206) 623-8880
- Email:ericsmith@paragonrea.com
- Office Name:Paragon Real Estate Advisors
- Office Phone:(206) 623-8880
- Office Website:www.paragonrea.com
- Agent Phone:(206) 812-9130
- Agent Email:brianp@paragonrea.com
- Agent Phone:(206) 812-9123
- Agent Email:michael@paragonrea.com
- Agent Phone:(206) 812-9101
- Agent Email:ben@paragonrea.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 3,200,000.0
- $/SF$ 367.8
- $/Unit$ 3,200,000.0
- Listing StatusPending
- Days on Market198
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income305,637
- Vacancy Factor %5.00%
- Operating Expenses117,571
- Net Operating Income172,784
- CAP Rate 5.88 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.88 %
- Building StatusExisting
- # of Buildings1
- # of Floors3
- # of Units18
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF8700
- Net Rentable Area8700
- Total Office SF
- Largest Contiguous SF
- Lot SF4792
- Acres0.11
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building ClassB
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaCapitol Hill/First Hill
- Tax ID #6848200610
- Additional Parcels
- ZoningMR(M)
- # Covered Spaces5
- # Uncovered Spaces0
- Total Parking Spots5
- Parking Ratio
- Year Built1928
- Year Renovated
- Completion Date
- Roof Type
- Construction TypeMasonry
The Strand
18-unit multifamily property located in the heart of Capitol Hill. Significant recent upgrades—including new electrical service mains and subpanels (2013) and high-efficiency tankless water heaters (2022). Offered at just $177,778/unit and $368/SF, The Strand represents a compelling basis play in the heart of Capitol Hill. The property delivers a current 5.9% cap rate, giving investors durable in-place income along with the upside potential of interior enhancements and rent growth in one of Seattle’s most sought-after rental markets. With strong market fundamentals and a premier walkable location, The Strand offers a rare opportunity to secure a character-rich asset at an attractive cost basis and benefit from continued appreciation in one of Seattle’s most resilient, high-demand submark
