421 Belmont Ave, Seattle, WA 98102
91 Unit Apartment Building | $26,000,000 ($285,714/Unit) | Seattle, WA 98102
For Sale
Active
2 pictures
Asking Price $26,000,000
- Property Type
-
Multifamily
- Square Feet
- 80,000 SF
Listing Contacts
Chad Blenz
Mitchell Belcher
Steven Chattin
Jay Timpani
Brandon Lawler
Property Overview
Introducing a brand new construction opportunity in Seattle's Capitol Hill neighborhood! This exceptional property, located at 421 Belmont Ave E, offers 91 units with the option to be delivered fully vacant at closing. With a TCO expected within 30 days, this is an opportunity you don't want to miss. The property qualifies for the Multifamily Tax Exemption Program, allowing for a property tax exemption for up to 12 years. Furthermore, the rapidly increasing population in the area is projected to grow by 16%+ by 2028, making it an attractive investment. Convenience is key with this property. It is within walking distance of a Light Rail station and a 5-minute walk to a Broadway bus stop with multiple routes. Interstate 5 is also easily accessible within a 5-minute drive. Additionally, major employers such as Amazon, Google, and Apple are located within biking distance. The property boasts an array of amenities including air conditioning on the top 2 floors, a luxury rooftop deck with stunning views, terraces on select units, a common kitchen and amenity lounge, bike storage, and lofted unit floorplans.
Property Details
- Class
- B
- Year Built
- 2024
- Stories
- 7
- Lot Size (sq. ft)
- 7,405 SF
- Units
- 91
Highlights
- Brand new build in Seattle’s Capitol Hill neighborhood two blocks north of E. Olive
- Qualifies for Multifamily Tax Exemption Program, allowing ownership to receive a property tax exemption for up to 12 years
- Rapidly increasing population (projected to grow 16%+ by 2028) within one mile; more than 57% of housing units renter-occupied within one mile
- Numerous employers within biking distance: Amazon, Google, Apple, etc.
- QFC and Seattle Library within 3 blocks; Pike/Pine corridor located within a 15-minute walk
- Option for 80% recap with buyout option
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