8600 Aurora Avenue N, Seattle, WA 98103

Active

8600 Aurora Avenue N, Seattle, WA 98103


Courtesy of: David W. Petersen | Paragon Real Estate Advisors
$3,750,000 Seattle, WA 98103
  • 0.46 Acres
  • King County

Key Features

  • MLS ID: NWM1956527
  • Year Build: 1952
  • Status: Active
  • Property Type: Residential Income
  • Area: 705 - Ballard/Greenlak
  • Exterior: ["Cement/Concrete"]
  • Address: 8600 Aurora Avenue N, Seattle, WA 98103
  • City: Seattle
  • State: WA
  • Zip: 98103
  • County: King

Description

Built in 1952, The Way West Apartments offers a high cash flowing opportunity for any existing building investor, multifamily / hospitality developer, or nonprofit organization. The property has an attractive 6.33% Cap Rate based on its current operations. All but two of the units received brand new windows, flooring, lighting, fixtures, and paint. The seller replaced the roof and the boiler in the last three years. You have a mix of (8) Studios, (13) One-bedroom units, (1) Two-bedroom unit, and (1) Commercial space all fully leased with long term tenants. This property offers an exit strategy through development. It is sitting on a 19,933 square foot lot zoned NC3P-75 (M).

Property Map

From Downtown Seattle, Get on I-5 N from 4th Ave. Follow I-5 N to Banner Way NE. Take exit 172 from I-5 N. Take N 85th St to the property.

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