West Emerson Apartments 633 W Emerson St 4 Lot Offre d’immeuble d’habitation à 1 203 843 € à un taux de capitalisation de 4,68 % Seattle, WA 98119

Built in 1962, the West Emerson Apartments are well positioned on the north slope of Queen Anne and resides on a 4,400 SqFt lot that is zoned LR1 (M) giving it future development potential in an ideal spot that always has rental demand. All the apartments have in-unit laundry, functional layouts, and complete kitchen appliance packages with dishwashers. The interior finishes blending original elements and simple updates that have been done over time. The future owner can capitalize on this and easily modernize the units cosmetically to increase income potential. The unit mix is comprised of 3 – 2Bd/1Bth and 1 – 1Bd/1Bth. Unit A – 2Bd/1Bth – is 925 SqFt and has a fireplace in the unit as well as some charming built-in desks. Unit B – 2Bd/1Bth – is 700 SqFt. Unit C – 2Bd/1Bth – is 700 SqFt and has a private patio that is perfect for BBQing on a nice day. Unit D – 1Bd/.75Bth – is 575 SqFt and has an island kitchen giving it an open and inviting feel. There are 4, off-street parking stalls located on the alley side for tenants’ convenience as well as a storage shed for bikes.
MOTIVATED SELLER – Seller has found a property he would like to exchange into, drastically increasing his want to sell. All the apartments have in-unit laundry, functional layouts, and complete kitchen appliance packages with dishwashers. The interior finishes blending original elements and simple updates that have been done over time. The future owner can capitalize on this and easily modernize the units cosmetically to increase income potential. The West Emerson Apartments offers a perfect blend of in-city living with a safe, quiet neighborhood feel. Located just a short drive on Highway 99 to downtown and within walking distance of Seattle Pacific University, the Fremont Sunday Market, and the shops atop Queen Anne Hill, this property is ideal for prospective tenants.
The West Emerson Apartments offers a perfect blend of in-city living with a safe, quiet neighborhood feel. Located just a short drive on Highway 99 to downtown and within walking distance of Seattle Pacific University, the Fremont Sunday Market, and the shops atop Queen Anne Hill, this property is ideal for prospective tenants such as students and young professionals.
The West Emerson Apartments is a light value-add opportunity that is perfect for an owner-user investor and with Unit C currently vacant, it will make for a seamless transition. It also appeals to investors looking to own a property in a great rental market and reap the benefit of Seattle’s growth in population. Being in the always desirable Queen Anne neighborhood, the units rarely sit vacant for long, giving the future owner peace of mind and steady cashflow that increases year over year.