416 Summit AVE E, Seattle, WA 98102
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416 Summit AVE E, Seattle, WA 98102
416 Summit AVE E, Seattle, WA 98102
416 Summit AVE E, Seattle, WA 98102
416 Summit AVE E, Seattle, WA 98102

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Additional details
Mick Hanson

Mick Hanson

Engel & Völkers Mercer Island

+1(206) 571-3040
Listed by:Kidder Mathews • Dan Swanson
$ 3,375,000
Est. payment /mo
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Active

416 Summit AVE E Seattle, WA 98102

13 Beds

11 Baths

9,176 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,176 sqft

Price per Sqft $367

Subdivision Capitol Hill

MLS Listing ID 2482505

Style 56 - 10+ Units

Bedrooms 13

Year Built 1928

Annual Tax Amount $30,098

Lot Size 7,200 Sqft

Property Sub-Type Multi Family

Property Description

A profitable, character-rich multifamily asset in highly desirable Capitol Hill neighborhood. Built in 1928, this well-maintained wood-frame property features 11 corner units (9 1-beds and 2 2-beds) each offering abundant natural light and spacious floor plans with dining areas and mulitple large closets. Property features old-world charm and all units are fully remodeled or new. Updated Square D panels and main service also appears to have been updated. Bathroom plumbing updates have been made on turnover. Select units feature walk-in closets, dining areas, and/or updated countertops. West facing top-floor units offer views of Downtown Seattle/Space Needle. Stable cash flow, historically low vacancy rates, and 6 parking spaces. With a walk score of 96, residents are near transit, restaurants, groceries, parks, and major employers. The property offers compelling value-add upside with multiple strategies: add a 12th unit in the existing building, retain the existing structure and add new units in the current parking area, or pursue a full redevelopment of the MR-zoned parcel, which can accommodate an estimated ±50-unit building (buyer to verify). Irreplaceable 1920s craftsmanship, dependable performance, and meaningful future potential, the Oriana Apartments stands as an exceptional opportunity in one of Seattle's most dynamic and amenity-rich urban neighborhoods.

Location

State WA

County King

Area 390 - Central Seattle

Interior

Flooring Hardwood

Fireplace false

Exterior

Exterior Feature Brick

View Y/N Yes

View City, Partial

Roof Type Flat

Building

Lot Description Alley, Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Lowell

Middle Schools Meany Mid

High Schools Garfield High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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Mick Hanson

Mick Hanson

Real Estate Advisor | License ID: 106643

+1(206) 571-3040

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416 Summit AVE E