For Sale
$2,950,000

3019 3Rd AveSeattle, WA 98119

Seattle Multifamily Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This 10-unit apartment building in Seattle's desirable Queen Anne neighborhood presents a compelling value-add opportunity. The property, built in 1981, boasts 7,460 square feet on an 8,475 square foot lot and features a mix of eight two-bedroom and two one-bedroom units, each averaging 746 square feet. The building offers ten parking spaces (six covered, four uncovered) and ten ground-level storage units. Currently 100% vacant, this presents a unique chance to renovate all units to achieve top-of-market rents. The property's Class B designation and 6.30% cap rate indicate strong investment potential. Its prime location near Seattle Pacific University, Trader Joe's, and various restaurants, coupled with a walk score of 75, ensures high occupancy potential. Nearby parks and recreational areas further enhance its appeal. The asking price is $2,950,000. Modern systems, including electrical and plumbing, are in place. The property's address is 3019 3rd Ave W, Seattle, WA 98119, and its APN is 890000-0050. This is a rare chance to acquire a well-located, multifamily property with significant upside potential in a thriving Seattle neighborhood.

Highlights

  • Delivered vacant at closing.
  • Renovation potential for maximizing rental income.
  • Ten units total (eight 2BR, two 1BR), averaging 746 square feet.
  • Ten parking spaces (six covered, four uncovered) plus ten ground-level storage units.
  • Excellent North Queen Anne location near Seattle Pacific University.
  • 1981 construction with updated systems and code-compliant utilities.

Property Details for 3019 3Rd Ave

Property type
Apartment buildings
Square Feet
7,460 SF
Class
B
Year Built
1981
Buildings
1
Units
10

Location Insight

City
Seattle
County
King
State
Washington
Latitude
47.647213
Longitude
-122.3612825
3019 3Rd Ave, Seattle, Washington

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3019 3Rd Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message