Multifamily
Magnolia Pointe Apartments
3630 22nd Ave W, Seattle, WA 98199
Listing Price: $6,500,000
Investment Overview
The Magnolia Pointe Apartments is a small community on a tree-lined street at 3630 22nd Ave W. This property is a turnkey asset located in Magnolia, a sought after and affluent neighborhood in central Seattle. The building was constructed in 1990 and has been newly renovated. The property consists of two 3-story buildings over partial subterranean parking garage containing 21 units with one-bedroom/one-bath, ranging from 500 Sq Ft to 800 Sq Ft, in-unit washer/dryer and beautiful courtyards.
Magnolia is the second largest neighborhood of Seattle, Washington by area and boasts the city's largest park, Discovery Park with 534 acres of hiking trails, forest, meadows, two miles of beaches, a historic lighthouse, and great views. Mere blocks away from abundant restaurants, coffee shops, and other specialty stores.
Magnolia Pointe Apartments
Investment Highlights
- • Employers within minutes away include Boeing, Expedia HQ, Amazon, Google, Gates Foundation, Apple, Meta, Microsoft with easy access to transit options and interstates.
- • Transportation options available include Seattle Center Monorail, located 3.6 miles away. Kenmore Air Harbor airport 14.5 miles away and Seattle Tacoma International airport 19.2 miles away.
- • In 2022 the median household income in Magnolia is $120,067, compared with the U.S. Average, which is $66,422.
- • With current rents considerably lower than the nearby properties, there is an ability to raise to market rents
- • Despite convenient proximity to Downtown, Ballard, Fremont, Queen Anne, Magnolia's residents are able to luxuriate in a quiet, slower pace of life.
Listing Price: $6,500,000
Investment Highlights
- • Employers within minutes away include Boeing, Expedia HQ, Amazon, Google, Gates Foundation, Apple, Meta, Microsoft with easy access to transit options and interstates.
- • Transportation options available include Seattle Center Monorail, located 3.6 miles away. Kenmore Air Harbor airport 14.5 miles away and Seattle Tacoma International airport 19.2 miles away.
- • In 2022 the median household income in Magnolia is $120,067, compared with the U.S. Average, which is $66,422.
- • With current rents considerably lower than the nearby properties, there is an ability to raise to market rents
- • Despite convenient proximity to Downtown, Ballard, Fremont, Queen Anne, Magnolia's residents are able to luxuriate in a quiet, slower pace of life.
Investment Overview
The Magnolia Pointe Apartments is a small community on a tree-lined street at 3630 22nd Ave W. This property is a turnkey asset located in Magnolia, a sought after and affluent neighborhood in central Seattle. The building was constructed in 1990 and has been newly renovated. The property consists of two 3-story buildings over partial subterranean parking garage containing 21 units with one-bedroom/one-bath, ranging from 500 Sq Ft to 800 Sq Ft, in-unit washer/dryer and beautiful courtyards. Magnolia is the second largest neighborhood of Seattle, Washington by area and boasts the city's largest park, Discovery Park with 534 acres of hiking trails, forest, meadows, two miles of beaches, a historic lighthouse, and great views. Mere blocks away from abundant restaurants, coffee shops, and other specialty stores.
