Parkside Apartments

Multi-Family
Pending

2337 NE 55th St, SeattleWA 98105

Property Details

Location

Address
2337 NE 55th St, SeattleWA 98105
County
King
Submarket
CBA U-District
Parcels
7172700036

Building Size

Building Size
4,900 SF
Rentable Space
4,900 SF

Building Details

Type
 Multi-Family  
 Pending
Number of Buildings
1
Number of Units
7
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
B
Building Status
Existing
Floors
2
Year Built
1954
Year Renovated
1990
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.17 Acres
Land (SF)
7,187 SF
Zoning
LR3 RC (M)
Lot Depth
Lot Width

Contacts

Current Listings

Parkside Apartments 7-Units Across from Ravenna Parkg for Sale

4,900 SF$1,995,000
Cap Rate: 3.35%

The Lee & Associates Northwest Multi Family team is pleased to present the Parkside Apartments, a seven-unit building, located in the highly sought after and easily accessible Ravenna neighborhood. Originally constructed in 1954 on a 7,197 sf LR3 RC (M) zoned lot, the Parkside offers four 1-bedroom units and three 2-bedroom units. These spacious apartments average 700 sf in size. The building has received updates over the years including a full tile roof replacement, vinyl window replacements, as well as a newer boiler and central hot water systems. Current onsite parking for seven vehicles could potentially be converted into additional apartments units (buyer to verify). Perfectly situated near, work, school and play, The Parkside Apartments offers investors the opportunity to acquire a stabilized asset with the ability to increase performance in the near term by recapturing significant loss-to-lease from below market rents. Additional lift can be achieved by implementing a full value-add program and renovating the units.

The Lee & Associates Northwest Multi Family team is pleased to present the Parkside Apartments, a seven-unit building, located in the highly sought after and easily accessible Ravenna neighborhood. Originally constructed in 1954 on a 7,197 sf LR3 RC (M) zoned lot, the Parkside offers four 1-bedroom units and three 2-bedroom units. These spacious apartments average 700 sf in size. The building has received updates over the years including a full tile roof replacement, vinyl window replacements, as well as a newer boiler and central hot water systems. Current onsite parking for seven vehicles could potentially be converted into additional apartments units (buyer to verify). Perfectly situated near, work, school and play, The Parkside Apartments offers investors the opportunity to acquire a stabilized asset with the ability to increase performance in the near term by recapturing significant loss-to-lease from below market rents. Additional lift can be achieved by implementing a full value-add program and renovating the units.

View Details
View Details

Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

BROKER

Source: Dea Sumantri

More Information

©Copyright 2001-2022 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Catylist Real Estate Software, Inc. does not assume any liability for errors or omissions.

Commercial Exchange is a national commercial real estate marketplace powered by Catylist.