Stream 403 403 Belmont Ave E Immeuble residentiel 47 lots À vendre Seattle, WA 98102

Stream 403 presents a premier investment opportunity in Capitol Hill, one of Seattle's most sought-after areas, known for eclectic dining, shopping, and entertainment. Built with sustainability in mind, this property proudly holds a Built Green 4-star certification. Stream 403 blends contemporary design with high-quality finishes to provide residents with a stylish and comfortable living environment. Residents enjoy key amenities such as a fitness center, rooftop deck, smart home features, and flexible storage options, all of which enhance tenant satisfaction and elevate the property's appeal. Investors can assume the favorable existing debt, which features a fixed interest rate of 3.95% maturing in October 2027, allowing for flexible financing options.
The property connects directly to Downtown Seattle, the city’s tech hub of South Lake Union, and multiple public transit options, including I-5 and I-90. Stream 403 provides immediate connectivity to over 2,000 workplaces and 15 million square feet of office space, supported by industry giants like Amazon, Apple, Google, and Meta. Capitol Hill thrives from a robust economy driven by the technology, healthcare, and education sectors. The neighborhood has a strong demographic profile, with a population earning an average income of $158,311 within a one-mile radius.
Stream 403 stands out with its open-concept unit layouts, thoughtful design, and extensive amenities. It incorporates sustainable building systems such as ambient transfer heat exchangers, low-flow water fixtures, Energy-Star appliances, and passive cooling designs, which reduce operating costs and maximize cash flow and investor returns. The unit mix aligns perfectly with submarket demands, with studio units averaging 5.4% larger than comparable properties, enabling the property to command strong rents for market-rate units. By participating in the 12-Year Multifamily Tax Exemption Program, ownership benefits from a broader tenant profile while limiting property tax liabilities through 2029. With minimal operational changes, new ownership can capitalize on a quality-built, turnkey asset with proven rental upside in one of Seattle’s most vibrant neighborhoods.
INVESTMENT HIGHLIGHTS:
· Impeccable Location: Easy access to the Central Business District, Downtown Seattle, and South Lake Union, boasting a Walk Score of 96 and a Transit Score of 87. A short bus or bike ride connects you to Seattle’s largest tech employers, including Amazon, Apple, Fred Hutchinson Cancer Center, Swedish Medical Center, and the Gates Foundation, among over 9,300 workplaces.
· Proven Rental Upside: Highest achieving rents are commanding up to $215 in monthly premiums over current market rates. New ownership can align all market-rate units and implement a RUBS program to boost operating income by $35,000. Secure parking and storage lockers generate steady supplemental revenue streams.
· Sustainably Built: The property earned a Built Green 4-Star Certification upon completion in 2017, ensuring minimum energy use improvements of 20% over Washington state building standards.
· Existing Assumable Debt: Assume debt available at approximately $9.79M with 2.5 years remaining at a fixed rate of 3.95%, with no prepayment penalty after October 2025.
· World-Class Healthcare Provides Recession-Proof Employment: Seven hospitals within five miles of the property offer recession-proof employment, supporting over 50,000 jobs in the region.
· Additional Tax Savings: Participate in Seattle’s 12-Year MFTE Program for a property tax savings of over $150k annually, equating to a gain of over $1M in Net Present Value.
· Superior Income Demographics: Within a one-mile radius, 76% of residents hold a bachelor’s degree or higher, compared to 45% in the Seattle metro area. Average household income is projected to exceed $208,000 annually by 2029.
· Life of Convenience: A short walk to Seattle’s expanding Light Rail, Broadway Market, Seattle Public Library, grocery stores, restaurants, and abundant nightlife.
· Amenities With Character: Panoramic rooftop terrace with city skyline and mountain views, a fitness center, space-efficient storage lockers, and package lockers. Units feature private balconies, smart home features, stainless steel appliances, vinyl plank flooring, and washers and dryers.