Capitol Hill Apartments with Redevelopment
416 Summit Ave E, Seattle, WA 98102
Well-maintained 11-unit apartment building near transit and amenities.
Type:Multifamily
Property size:
8,220 SFPrice / SF:
$410/SF- Added:
- Feb 19, 2026
- Days on Market:
- 82
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 416 Summit Ave E
General Information
- Standard status
- Active
- Size
- 8,220 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1928
Listing agent Dan Swanson License #WA 13533
Listing office Kidder Mathews Seattle
Listing date Feb 19, 2026
Source Crexi
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 Kidder Mathews Seattle
HighLights
- Prime location: Walker's Paradise score of 96, near light rail, streetcar, restaurants, shops, grocery stores, and parks.
- Value‑add potential: Options to add units, redevelop the MR‑zoned parcel for approximately 50 units.
- Strong rental appeal: Six on‑site parking spaces and proximity to major employers (Amazon) and universities (Seattle Central College, Seattle University, University of Washington).
- 11 corner units (1 new, 10 remodeled) with updated electrical panels and plumbing.
- Desirable unit features: Walk‑in closets, dining areas, updated countertops and backsplashes, and/or pedestal bathroom sinks.
- West‑facing top‑floor units offer views of Downtown Seattle and the Space Needle.
Overview
This well-maintained wood-frame property, constructed in 1928, features 11 corner units, including one new and 10 remodeled units. The units have updated Square D electrical panels, and the main service appears to have been updated. Plumbing updates have been consistently made to the baths upon turnover. Finishes and features vary among the units and include walk-in closets, dining areas, updated countertops and backsplashes, and pedestal bathroom sinks. The west-facing top-floor units offer views of Downtown Seattle and the Space Needle. Six on-site parking spaces enhance tenant appeal. Positioned seven blocks from the Capitol Hill light rail station and near the First Hill Streetcar, the property offers connectivity. It is within close reach of neighborhood restaurants, shops, grocery stores, and parks, with a Walker’s Paradise walk score of 96 out of 100. The location places residents within a mile of Amazon’s campus and blocks from Seattle Central College and Seattle University, with direct transit access to the University of Washington. The property also offers value-add upside. Strategies include adding a 12th unit in the existing building, retaining the existing structure and adding new units in the current parking area, or pursuing a full redevelopment of the MR-zoned parcel, which can accommodate an estimated 150-unit building. The property size is 8,220 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.32503
- Latitude
- 47.6224694
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 11-unit apartment building near transit and amenities.
Where is this apartment building located?
The property is located at 416 Summit Ave E Seattle, WA.
What is the asking price?
The asking price for this property is $3,375,000.
What are key features of this property?
This property features: Prime location: Walker's Paradise score of 96, near light rail, streetcar, restaurants, shops, grocery stores, and parks.; Value‑add potential: Options to add units, redevelop the MR‑zoned parcel for approximately 50 units.; Strong rental appeal: Six on‑site parking spaces and proximity to major employers (Amazon) and universities (Seattle Central College, Seattle University, University of Washington).
