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Park Hill Apartments
1305 E Madison St Seattle WA 98122
Listing #: 674277 | Status: Pending | Last Modified: 4/5/2024
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 742,423 |
| Vacancy Factor % | 5.50% |
| Operating Expenses | 252,479 |
| Net Operating Income | 449,110 |
| CAP Rate | 6.24 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Total Units | 31 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Financial Summary | |
|---|---|
| CAP Rate | 6.241 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 3 |
| # of Units | 31 |
| # of Elevators | 0 |
| Total Building SF | 30,236 SF |
| Net Rentable Area | 30,236 SF |
| Total Office SF | 1,300 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 12,458 SF |
| Acres | 0.29 |
| Year Built | 1907 |
| Year Renovated | 1999 |
| Sprinklers | Yes |
| Construction Type | Framed, Wood |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Investment | Yes |
| Location | |
|---|---|
| County | King |
| Market Area | Capitol Hill/First Hill |
| Tax ID # | 3865400010 |
| Zoning | NC3-75(M) |
| Parking Information | |
|---|---|
| #Covered Spaces | 0 |
| # Uncovered Spaces | 186 |
| Total Parking Spots | 186 |
30 Units + 1 NC Office/Shop in Walkable Capitol Hi
Note: At closing, all rent restrictions will be lifted and most of the units will be vacant. Figures reflect market rents and expenses. Well located near Capitol Hill’s Pike/Pine retail corridor, the Park Hill Apartments offers strategic proximity to employers, restaurants and shops, light rail transit, and the future Madison RapidRide bus route, expected to begin service in 2024. Further, the classic brick veneer building features many uniquely grand floor plans averaging 965 square feet, with 9-foot ceilings and updated plumbing and wiring systems, as well as a 1,300-square-foot shop/storage/office space* currently used by the owner. Moreover, priced at just $253,000* per unit and $260* per foot, the Park Hill Apartments will appeal to a value-add investor as most of the units will be va
Park Hill Apartments
1305 E Madison St Seattle WA 98122
Listing #: 674277 | Status: Pending | Listing Date: 11/21/2023 | Last Modified: 4/5/2024 | Email Listing
For Sale
Park Hill Apartments
