3005 Harbor Ave SW - Apartments FOR SALE


Seattle, WA 98126
$2,395,000 USD
206-812-9101
3005 Harbor Ave SW, Seattle, WA for Sale
$2,395,000 USD
Apartments - FOR SALE
1/27
null | 4.84% Cap Rate

3005 Harbor Ave SW
Seattle, WA 98126


HIGHLIGHTS

  • Turnkey asset in a desirable location
  • 100% occupied since it was first leased
  • Sweeping views of Downtown Seattle, Elliot Bay and Mount Rainier
  • Roof-top deck with BBQ and seating area
  • Built in 2017
  • 6 – 2BD/1BTH – 939 square foot units

OVERVIEW

Paragon Real Estate Advisors is pleased to announce the exclusive listing of the Mary Moore Apartments, a modern 6-unit building constructed in 2017 and located just minutes from Alki Beach in West Seattle. This is the first time the Mary Moore has been on the market since its construction and has maintained 100% occupancy since it was first leased 7 ½ years ago. The property offers six spacious 939-square-foot, 2-bedroom, 1-bathroom units, each featuring custom cabinets, stainless steel appliances, granite countertops, hardwood floors, and washer and dryers. Every unit includes an off-street parking space and a storage unit. The units benefit from abundant natural light, and the rooftop deck offers sweeping views of Elliott Bay, Mount Rainier, and Downtown Seattle. There is an operational value-add opportunity to increase rents to market levels and charge for additional items such as storage and utility billbacks. The Mary Moore Apartments are uniquely situated in a quiet pocket of West Seattle, just minutes from Alki Beach. The location allows for easy access to the West Seattle Bridge, which leads directly onto I-5 and Highway 99, and is within walking distance of the Water Taxi. The Alki Beach trail, located across the street from the property, is perfect for walking, running, or biking. This location offers the tranquility of a residential neighborhood with the convenience of easy access to major highways and proximity to the beach. Tenants who move into the building from other neighborhoods or out of state fall in love with West Seattle and renew their leases year after year. This is a great opportunity for an investor to acquire a turnkey asset in a desirable location.

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

6

PRICE/UNIT

$399,167

CAP RATE

4.84%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mary Moore Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

C1-55 (M)

APN/PARCEL ID

691170-0030

ASK ABOUT THIS PROPERTY

Ben DouglasParagon Real Estate AdvisorsMore Info
206-812-9101

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Ben DouglasParagon Real Estate AdvisorsMore Info
206-812-9101

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.