433 Belmont Ave, Seattle, WA 98102
41 Unit Apartment Building | For Sale | Seattle, WA 98102
For Sale
Active
10 pictures
- Property Type
-
Multifamily
- Square Feet
- 25,331 SF
Listing Contacts
Chad Blenz
Jay Timpani
Mitchell Belcher
Steven Chattin
Brandon Lawler
Property Overview
Corona is a beautifully landscaped property that blends exceptionally well into the Capitol Hill area preserving authenticity and capturing the warmth and urban neighborhood feeling of old Capitol Hill. This trophy, value-add asset offers a well-conceived blend of studio, one, and two-bedroom units averaging 618 square feet with 100% of the units having been upgraded to modern standards in recent years. With rents currently $107 below market rate, there is considerable upside potential for new ownership to enhance current renovation scope to achieve further rent premiums. The property features modern upgrades such as new plumbing, hot water heaters, and a TPO roof replacement. Amenities include a fenced, private community pool, outdoor lounge, garage parking, and communal laundry facilities. Capitol Hill is one of the premier residential neighborhoods in Seattle, offering immediate access to Interstates 5 and 90 and the property’s central location will support consistent future rental demand and attract working professionals who value immediate proximity to employers, transit, and amenities.
Property Details
- Class
- C
- Year Built
- 1960
- Stories
- 5
- Lot Size (sq. ft)
- 14,375 SF
- Units
- 41
Highlights
- A beautifully landscaped property that blends exceptionally well into the Capitol Hill area
- Corona was built in 1960 and is a 41-unit community well-conceived with a mix of studio, one, and two-bed units averaging 618 square feet
- 100% of the units have been upgraded to modern standards with opportunity for new ownership to enhance current renovation scope
- Additional capital expenditures by current ownership include all main water lines upgraded to pex plumbing with individual shut off valves for each
- Building amenities include fenced, private community pool, outdoor lounge, reserved garage parking across street as well as off-street surface parking
- New TPO roof replacement completed in 2018 and all new upgraded thermopane windows
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