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Multifamily

Fremont 5

4509 Fremont Ave N, Seattle, WA 98103

Listing Price: $1,695,000

Cap Rate
3.50%
Number of Units
5
Occupancy
95.0%
Price/Unit
$339,000
Price/Gross SF
$307.73
Gross SF
5,508

Investment Overview

Originally built in 1978, the property is comprised of spacious one- and two-bedroom homes averaging ±859 square feet. The property features three stalls of tuck-under parking as well as private, off-street parking behind the building. Select homes boast patios and all units include in-unit washers and dryers. An incoming investor has the opportunity to employ a value-add strategy and raise rents to market levels through mostly cosmetic upgrades. The property is situated on 5,000 square feet of land zoned LR3(M) on the north end of the desirable Fremont Ave corridor. Long considered one of the most desirable neighborhoods in Seattle, Fremont continues to be one of the premier investment locations in the city. The Fremont 5 offers investors the opportunity to acquire an asset that is set to capitalize on continued growth and long term viability of this amazing location.

Investment Highlights

  • Excellent Fremont location steps from retail, dining, and nightlife options on Fremont Ave
  • Great proximity to Silicon Canal tech employers including, Google, Tableau, Adobe, and several others
  • Desirable unit mix of large one-bedroom and two-bedroom homes averaging ±859 square feet
  • Value add opportunity: substantial rent increases can be achieved through unit renovations
  • Average household income of $162,642 within 0.25 miles; 24.5% of households within 0.25 miles make $200,000 or more
  • Easy access to downtown Seattle and South Lake Union via Highway 99; 6-minute drive to Mercer Street and Amazon's world headquarters

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Listing Price: $1,695,000

Cap Rate
3.50%
Number of Units
5
Occupancy
95.0%
Price/Unit
$339,000
Price/Gross SF
$307.73
Gross SF
5,508

Investment Highlights

  • Excellent Fremont location steps from retail, dining, and nightlife options on Fremont Ave
  • Great proximity to Silicon Canal tech employers including, Google, Tableau, Adobe, and several others
  • Desirable unit mix of large one-bedroom and two-bedroom homes averaging ±859 square feet
  • Value add opportunity: substantial rent increases can be achieved through unit renovations
  • Average household income of $162,642 within 0.25 miles; 24.5% of households within 0.25 miles make $200,000 or more
  • Easy access to downtown Seattle and South Lake Union via Highway 99; 6-minute drive to Mercer Street and Amazon's world headquarters

Investment Overview

Originally built in 1978, the property is comprised of spacious one- and two-bedroom homes averaging ±859 square feet. The property features three stalls of tuck-under parking as well as private, off-street parking behind the building. Select homes boast patios and all units include in-unit washers and dryers. An incoming investor has the opportunity to employ a value-add strategy and raise rents to market levels through mostly cosmetic upgrades. The property is situated on 5,000 square feet of land zoned LR3(M) on the north end of the desirable Fremont Ave corridor. Long considered one of the most desirable neighborhoods in Seattle, Fremont continues to be one of the premier investment locations in the city. The Fremont 5 offers investors the opportunity to acquire an asset that is set to capitalize on continued growth and long term viability of this amazing location.

Exclusively Listed By

Financing By

  • Tammy Linden

    First Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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