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    1718 Melrose Ave Seattle, WA 98122

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    For Sale
    $14,200,000

    52-unit apartment building in Seattle's Capitol Hill neighborhood.

    Property Features for 1718 Melrose Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1988

    Source: BERKADIA REAL ESTATE ADVISORS, LLC Agent STEVEN CHATTIN

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Capitol Hill Apartment Building Investment

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Crest Apartments Apartment Building Happy Host catering ... Association Or Organization

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Law Firm Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Seattle
    County
    King
    State
    Washington
    Longitude
    -122.3275875
    Latitude
    47.6175964

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    FAQs

    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.
    Request Owner's contact information
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    Seattle, WA 98122
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1718 Melrose Ave Seattle, WA 98122
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