Multifamily

Ravenna Townhomes

Listing Price: $2,300,000

Cap Rate
4.67%
Number of Units
5
Price/Unit
$460,000
Price/Gross SF
$418.18
Gross SF
5,500

Investment Overview

Marcus & Millichap is pleased to present for sale the Ravenna Townhomes. Located in the U-District, the Ravenna Townhomes are walking distance to the University of Washington and University Village offering residents a variety of options for dining, shopping and daily needs like groceries. Each unit is laid out nicely for UW students or other neighborhood residents seeking a roommate scenario. The large floor plans and townhome layout separates bedrooms from living spaces offering a nice buffer between privacy and daily living. The interiors were refinished roughly 8 years ago with new cabinets, counter tops, paint, fixtures and flooring. The main level has hardwood floors while the upper level is carpeted. Each unit features a spacious deck, storage unit, one covered parking stall and one uncovered parking space. The exterior is composed of vertical wood siding, double pane aluminum windows and a torch down roof. The property’s close proximity to the University of Washington and University Village offer investors the chance to own a property that should maintain high occupancy on a regular basis. According to Co-Star, the Northeast Seattle Submarket has a 6.6% vacancy rate however this figure includes newly constructed units and covers a larger geography than just the University Village area. This offering is being presented as a relatively turnkey investment with slightly below market rents. Although there will likely be regular on going apartment maintenance, this property should offer the next owner a safe and steady income stream over a long period of time.

Investment Highlights

  • CLOSE PROXIMITY TO THE UNIVERSITY OF WASHINGTON
  • WITHIN WALKING DISTANCE OF RETAIL OPTIONS
  • UNITS LAID OUT NICELY FOR ROOMMATES

Exclusively Listed By

Listing Price: $2,300,000

Cap Rate
4.67%
Number of Units
5
Price/Unit
$460,000
Price/Gross SF
$418.18
Gross SF
5,500

Investment Highlights

  • CLOSE PROXIMITY TO THE UNIVERSITY OF WASHINGTON
  • WITHIN WALKING DISTANCE OF RETAIL OPTIONS
  • UNITS LAID OUT NICELY FOR ROOMMATES

Investment Overview

Marcus & Millichap is pleased to present for sale the Ravenna Townhomes. Located in the U-District, the Ravenna Townhomes are walking distance to the University of Washington and University Village offering residents a variety of options for dining, shopping and daily needs like groceries. Each unit is laid out nicely for UW students or other neighborhood residents seeking a roommate scenario. The large floor plans and townhome layout separates bedrooms from living spaces offering a nice buffer between privacy and daily living. The interiors were refinished roughly 8 years ago with new cabinets, counter tops, paint, fixtures and flooring. The main level has hardwood floors while the upper level is carpeted. Each unit features a spacious deck, storage unit, one covered parking stall and one uncovered parking space. The exterior is composed of vertical wood siding, double pane aluminum windows and a torch down roof. The property’s close proximity to the University of Washington and University Village offer investors the chance to own a property that should maintain high occupancy on a regular basis. According to Co-Star, the Northeast Seattle Submarket has a 6.6% vacancy rate however this figure includes newly constructed units and covers a larger geography than just the University Village area. This offering is being presented as a relatively turnkey investment with slightly below market rents. Although there will likely be regular on going apartment maintenance, this property should offer the next owner a safe and steady income stream over a long period of time.

Exclusively Listed By

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