Capitol Hill Apartment Building
For Sale
$14,200,000
Pending
1718 Melrose Ave, Seattle, WA 98122
52-unit apartment building in Seattle's Capitol Hill neighborhood.
Property SizeContact for details
Days on Market416
Property Features for 1718 Melrose Ave
General Information
Standard status
Pending
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
BERKADIA REAL ESTATE ADVISORS, LLC
(425) 269-3826
Listed By:
STEVEN CHATTIN
Source:
Corcoran
Added: Jul 1, 2025
Changed: Jul 6
Last Checked: Jul 23 at 8:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BERKADIA REAL ESTATE ADVISORS, LLC
Investment Insights
Based on property information with market context.
The Crest Apartments, located in Seattle’s Capitol Hill neighborhood, presents an investment opportunity. The property has been owner-operated for 25 years. Situated near the Denny Triangle, it provides access to Downtown Seattle, the Retail Core, and South Lake Union. The location offers proximity to major offices such as Amazon, Google, and Meta, and over 336,000 employees. The property features 52 units, including studios, one-bedroom, and two-bedroom apartments. Each unit includes a private balcony and an in-unit washer and dryer. Constructed with reinforced brick masonry, The Crest is positioned in an affluent submarket with potential for rent increases, as current rents are reportedly 22% below market value. The property offers secured parking.
Key Highlights
- Prime location in Capitol Hill near Denny Triangle, offering direct access to Downtown Seattle, Retail Core, and South Lake Union.
- Proximity to major employers like Amazon, Google, and Meta, with over 336,000 employees nearby.
- Significant rent increase potential, with current rents 22% below market value in an affluent submarket.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
15,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 98122, WA
41,646
Population
24,942
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
18,107
Density / Sq Mi
$106,479
Median Household Income
$69,673
Median Earnings
$1,991
Median Rent
$929,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 52-unit apartment building in Seattle's Capitol Hill neighborhood.
Where is this apartment building located?
The property is located at 1718 Melrose Ave Seattle, WA.
What is the asking price?
The asking price for this property is $14,200,000.
What are key features of this property?
This property features: Prime location in Capitol Hill near Denny Triangle, offering direct access to Downtown Seattle, Retail Core, and South Lake Union.; Proximity to major employers like Amazon, Google, and Meta, with over 336,000 employees nearby.; Significant rent increase potential, with current rents 22% below market value in an affluent submarket.
