711 21St Ave Seattle, WA 98122
Well-located 6-unit in Seattle with redevelopment potential and solid income.
Property size:
5,835 SFProperty Features for 711 21St Ave
General Information
- Standard status
- Active
- Size
- 5,835 SF
Building Details
- Year built
- 1900
Source:
Corcoran
Listing Agent: Reid Jones
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Central District 6-Unit Investment Opportunity
This 6-unit property is located in a dynamic Seattle neighborhood and presents an opportunity for investors. Situated on a 7,200 SF lot, the property has proposed LR2 zoning, offering both in-place income and redevelopment potential. The unit mix includes 2-bedroom, 3-bedroom, and 4-bedroom layouts. Major updates were completed in 2018, including rebuilt units, PEX plumbing, new electrical panels, vinyl siding and windows, and a torchdown roof. There is potential to boost income through cosmetic upgrades, RUBS (Ratio Utility Billing System), and parking fees, with a pro forma cap rate of 6.7%+. The property includes a shared outdoor patio and surface parking. It is located blocks from the future light rail, Seattle University, and Swedish Cherry Hill. The property is professionally managed and maintained.
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
- -122.3053864
- Latitude
- 47.6084307
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-located 6-unit in Seattle with redevelopment potential and solid income.
Where is this apartment building located?
The property is located at 711 21St Ave Seattle, WA.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: - Prime Central District location with future LR2 rezone potential on a 7,200 SF lot.; - Six-unit building with solid in-place income and redevelopment possibilities.; - Mix of 2, 3, and rare 4-bedroom layouts.