1419 E Olive Street

Multi-Family

1419 E Olive St, SeattleWA 98122

Property Details

Location

Address
1419 E Olive St, SeattleWA 98122
County
King
Submarket
CBA Capitol Hill/First Hill
Parcels
1728800085

Building Size

Building Size
2,750 SF

Building Details

Type
 Multi-Family
Number of Buildings
1
Occupancy Type
Multi-tenant
Building Class
Building Status
Existing
Floors
1
Year Built
1945
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.09 Acres
Land (SF)
3,833 SF
Zoning
LR3 (M)
Lot Depth
Lot Width

Contacts

Current Listings

Capitol Hill Triplex

2,750 SF$1,325,000
Cap Rate: 4.03%

This triplex offers a unique mix of units - one 1BD/1BTH unit, one 2BD/1BTH unit, and one 3BD/1.75BTH

townhouse-style unit. The building sits back off the street, behind a charming courtyard, giving occupants a great spot to enjoy summer days. The units are currently renting well below market presenting significant rental upside. The property will operate at a 4.8% CAP rate when rents are brought up to market. The condition of the units also gives a buyer the opportunity to update the units and capture higher rents. The location is great for commuters heading to both north or south Seattle as it is only a few blocks to the Capitol Hill Light Rail Station. Cal Anderson Park and Broadway Avenue are also just a few blocks away.

This triplex offers a unique mix of units - one 1BD/1BTH unit, one 2BD/1BTH unit, and one 3BD/1.75BTH

townhouse-style unit. The building sits back off the street, behind a charming courtyard, giving occupants a great spot to enjoy summer days. The units are currently renting well below market presenting significant rental upside. The property will operate at a 4.8% CAP rate when rents are brought up to market. The condition of the units also gives a buyer the opportunity to update the units and capture higher rents. The location is great for commuters heading to both north or south Seattle as it is only a few blocks to the Capitol Hill Light Rail Station. Cal Anderson Park and Broadway Avenue are also just a few blocks away.

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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: CBA

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