Mixed-Use
Olympic View
3837 Aurora Ave N, Seattle, WA 98103
Listing Price: $4,700,000
Investment Overview
Originally constructed in 2001, the Olympic View Apartments is a nine unit apartment community over three retail suites located in the heart of Fremont. Perched above the trees, Olympic View offers residents spacious two bedroom two bathroom townhomes, with select units offering views of downtown Seattle and the Olympic Mountains. Since the pandemic began, larger apartments have been in high demand and with an average unit size of almost 1,324 square feet, it’s no wonder Olympic View’s units are always in high demand. Larger units coupled with unparalleled access to main arteries and major employers make Olympic View an ideal place to call home.
Olympic View consists of nine ±1,324-square foot two-bedroom/two-bathroom units. Each unit features a spacious living and dining room, two decks, oven/range, refrigerator, washer/dryer in unit and secure garage parking. This offering presents an excellent opportunity to purchase a mixed-use building with strong appeal, while being able to take advantage of significant rental upside. At a purchase price of $4,700,000, Olympic View Apartments offers an investor a combination of residential and commercial income, with three ground floor retail suites offering a diverse income stream. An incoming investor can easily justify spending the necessary dollars on renovating the units to achieve an excellent cash on cash return. Our proposed renovation package would include new luxury vinyl plank flooring, quartz counters, new shaker style cabinets, updated lighting package, fresh paint, upgraded appliances, and a light bathroom refresh.
Investment Highlights
- Strong Unit Mix: All two- bedroom units averaging 1,324 square feet
- Attractive Proforma Cap Rate of 7.11%
- Value add opportunity: Ability to capture significant rental upside through light renovations
- Views of Downtown Seattle and the Olympic Mountains
- Excellent proximity to the region's major employers - 10-minutes to Downtown Seattle - 23 minutes to Downtown Bellevue - 20 minutes to SeaTac airport
- Renovation schedule to significantly increase proforma rents 24% after renovations
- Ample on-site garage parking with 15 secure stalls
- Washer/Dryer included in all units
Exclusively Listed By
Listing Price: $4,700,000
Investment Highlights
- Strong Unit Mix: All two- bedroom units averaging 1,324 square feet
- Attractive Proforma Cap Rate of 7.11%
- Value add opportunity: Ability to capture significant rental upside through light renovations
- Views of Downtown Seattle and the Olympic Mountains
- Excellent proximity to the region's major employers - 10-minutes to Downtown Seattle - 23 minutes to Downtown Bellevue - 20 minutes to SeaTac airport
- Renovation schedule to significantly increase proforma rents 24% after renovations
- Ample on-site garage parking with 15 secure stalls
- Washer/Dryer included in all units
Investment Overview
Originally constructed in 2001, the Olympic View Apartments is a nine unit apartment community over three retail suites located in the heart of Fremont. Perched above the trees, Olympic View offers residents spacious two bedroom two bathroom townhomes, with select units offering views of downtown Seattle and the Olympic Mountains. Since the pandemic began, larger apartments have been in high demand and with an average unit size of almost 1,324 square feet, it’s no wonder Olympic View’s units are always in high demand. Larger units coupled with unparalleled access to main arteries and major employers make Olympic View an ideal place to call home. Olympic View consists of nine ±1,324-square foot two-bedroom/two-bathroom units. Each unit features a spacious living and dining room, two decks, oven/range, refrigerator, washer/dryer in unit and secure garage parking. This offering presents an excellent opportunity to purchase a mixed-use building with strong appeal, while being able to take advantage of significant rental upside. At a purchase price of $4,700,000, Olympic View Apartments offers an investor a combination of residential and commercial income, with three ground floor retail suites offering a diverse income stream. An incoming investor can easily justify spending the necessary dollars on renovating the units to achieve an excellent cash on cash return. Our proposed renovation package would include new luxury vinyl plank flooring, quartz counters, new shaker style cabinets, updated lighting package, fresh paint, upgraded appliances, and a light bathroom refresh.
Exclusively Listed By

