The Halcyon Apartments 7060 Lincoln Park Way SW Immeuble residentiel 23 lots 6 013 835 € (261 471 €/Lot) Taux de capitalisation 4,53 % Seattle, WA 98136

Paragon Real Estate Advisors is proud to present a rare investment opportunity at The Halcyon Apartments, a 24-unit multifamily asset located in the heart of West Seattle’s highly sought-after Lincoln Park neighborhood. Just steps from Lowman Beach, the Puget Sound waterfront and Lincoln Park, this property combines location, scale, and upside in one of Seattle’s most desirable rental markets.
Originally constructed in 1968, the property has seen extensive capital improvements within the last 6 years and is well-positioned for a new owner to take advantage of strong immediate rental upside. The Halcyon offers spacious layouts that include in-unit washer and dryers, private decks for majority of units, generous living and dining areas, abundant unit storage and full kitchens equipped with dishwashers, ranges and refrigerators. Additional amenities include monthly charged secured underground parking and carport parking, storage space for tenants, and some units having sweeping sunset views, adding to the long-term appeal for tenants and investors alike.
Located just off Lincoln Park Way SW, the property offers a quiet, residential feel with easy access to Lincoln Park, Lowman Beach Park’s waterfront, local amenities, and public transit. At a purchase price of $6,950,000, and with only minimal units in need of various renovations, the asset presents an attractive price per unit relative to its location, size, and quality.
Current rents are well below market, creating a clear opportunity to push rents by 20% or more through focused operations and a light value add plan. By completing the remaining renovations, and increasing rents to market, an investor can unlock strong returns, targeting a 6%+ cap rate and 6.5%+ cash-on-cash return, while holding a durable, legacy asset in a desirable location.