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The Strand
221 Belmont Ave Seattle WA 98102
Listing #: 703356 | Status: Pending | Last Modified: 4/14/2026
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 305,637 |
| Vacancy Factor % | 5.00% |
| Operating Expenses | 117,571 |
| Net Operating Income | 172,784 |
| CAP Rate | 5.88 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Financial Summary | |
|---|---|
| CAP Rate | 5.877 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 3 |
| # of Units | 18 |
| Total Building SF | 8,700 SF |
| Net Rentable Area | 8,700 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 4,792 SF |
| Acres | 0.11 |
| Year Built | 1928 |
| Construction Type | Masonry |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Investment | Yes |
| Building Class | B |
| Location | |
|---|---|
| County | King |
| Market Area | Capitol Hill/First Hill |
| Tax ID # | 6848200610 |
| Zoning | MR(M) |
| Parking Information | |
|---|---|
| #Covered Spaces | 5 |
| # Uncovered Spaces | 0 |
| Total Parking Spots | 5 |
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
The Strand
221 Belmont Ave Seattle WA 98102
Listing #: 703356 | Status: Pending | Listing Date: 10/6/2025 | Last Modified: 4/14/2026 | Email Listing
For Sale
The Strand
