Additional details

Discover Northwest Realty - Land

info@unitedcountrynw.com +1(360) 843-4032

Listed by:Westlake Associates, Inc. • Chad Michael Martini

$4,200,000

Est. payment - /mo

18 Beds

13 Baths

9,420 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,420 sqft

Price per Sqft $445

Subdivision Magnolia

MLS Listing ID 2566437

Style 56 - 10+ Units

Bedrooms 18

Year Built 1959

Annual Tax Amount $33,567

Lot Size 10,492 Sqft

Property Sub-Type Multi Family

Property Description

Constructed in 1959 and comprehensively renovated in 2016, The Edge Apartments is an exceptional 13-unit apartment community offers investors a rare opportunity to acquire a stabilized, turn-key asset in one of Seattle's most desirable rental markets. The extensive renovation modernized the property throughout, including updated plumbing and electrical systems, creating a low-maintenance investment with strong in-place cash flow and long-term ownership appeal. The property consists of 8 one-bedroom and 5 two-bedroom apartments, each designed with finishes that today's renters value. Every unit features quartz countertops, stainless steel appliances, in-unit washers and dryers, and contemporary LVT flooring in the common areas. Select apartments include fireplaces, while the top-floor residences enjoy private balconies with peek-a-boo views of the Seattle skyline and Puget Sound. Residents also benefit from a spacious second-floor patio with a community grill, providing an attractive outdoor gathering space that enhances the tenant experience. The property offers an attractive value-add component through ten individual secured garage and storage spaces. Currently generating approximately $10,800 in annual income, these oversized garages provide immediate supplemental revenue with meaningful upside through rent increases to market rates. The property is well-positioned to capitalize on continued tenant demand for secure parking and storage.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Vinyl Plank, Carpet

Fireplace false

Exterior

Exterior Feature Wood

Garage Spaces 10.0

Amenities Available Deck, Patio

View Y/N Yes

View City, Partial

Roof Type Flat

Building

Lot Description Paved, Sidewalk

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby School & Business

Discover Northwest Realty - Land

Broker License ID: 90947

+1(360) 843-4032 | info@unitedcountrynw.com

2515 Thorndyke AVE W Seattle, WA 98199

Discover Northwest Realty - Land

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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