Investment Overview

The Summit Court Apartments presents an incredible value-add opportunity in the center of Seattle’s highly sought-after Capitol Hill neighborhood. Eleven units built in 1961, two of the units have been fully renovated, while the remaining 9 units have been well maintained and retain their retro charm. Comprised of six studios (388 SF) and five one-bedrooms (519 SF), the units layout nicely with ample storage, updated bathrooms, and vaulted ceilings in the top-floor units. Featuring a secure gated entry into a shared courtyard and open-air walk-up style walkways, Summit Court presents a unique community for tenants in the heart of the city. Boasting a walk-score of 97, the property is situated within a one-mile walk of hundreds of restaurants and bars, thousands of jobs, and is four blocks from the Capitol Hill Light Rail Station. Capitol Hill is one of the most coveted neighborhoods in Seattle offering unmatched access to 620,000+ jobs at companies such as Amazon, Google, Expedia, Meta, Microsoft as well as some of the largest hospitals on the West Coast including Swedish Hospital, UW Medical Center, Harborview Medical Center, and more. Additionally, Capitol Hill is home to Seattle’s most exciting dining and entertainment scene. Within just a few blocks radius there are multiple bus stops, the Link Light Rail Station, grocery stores, restaurants, concert venues, and bars. Summit Ave has had some challenges in the years since the pandemic, but has received significant investment in the last two years. Within a one-block radius, 3 properties have sold since 2022 to value-add investors with significant revitalization plans. Summit House presents an opportunity to get into quality construction in an up and coming pocket of Capitol Hill at an attractive basis.