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805 Marion St Seattle, WA 98104

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For Sale
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45-unit multifamily building with value-add potential in Seattle's First Hill.

Lot size:
0.17 Acres

Property Features for 805 Marion St

General Information

Standard status
Active
Zoning
HR (M)
Lot size
0.17 Acres

Building Details

Year built
1920

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Listing Contact
Chad Blenz
Chad Blenz
Source: Crexi

Listing Agency: Berkadia Listing Agent: Chad Blenz

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

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Overview

Vintage Apartments in First Hill

Clarwood Apartments is a 45-unit multifamily building located in Seattle’s First Hill neighborhood. Constructed in 1920, the property retains vintage charm and appeals to renters seeking historic detail and walkable urban living. The property is located minutes from Downtown, Capitol Hill, and major employers, including three primary hospitals. The property offers stable occupancy, long-term value, and future upside in a high-demand location. First Hill anchors one of the Pacific Northwest’s employment clusters. The local population includes medical professionals, students, tech workers, and office workers who value proximity, walkability, and access to urban amenities. The property is suited for interior renovations across all units while preserving its historic charm. Preservation efforts have kept original finishes intact, including hardwood flooring, crown molding, and large windows. Open floor plans and oversized walk-in closets allow for reconfigured layouts to expand kitchens during renovations. The property demonstrates the ability to achieve post-renovation rent growth above current levels. Buyers can capitalize on further rent growth, reduced renewal concessions, and occupancy within the context of decreasing new supply and an expanding high-income renter base. The property delivers a blend of value-add upside, in-place stability, and location fundamentals. The property is a strategic investment for buyers seeking appreciation and income growth in Seattle’s urban core.
Location Intelligence

Current Use by Public Records

The Clarwood apts Apartment Building

Suggested Use

Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Daycare Center Grocery & Convenience Store Gym & Fitness Center

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

Location Insight

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  • Local Demand
City
Seattle
County
King
State
Washington
Longitude
-122.327271
Latitude
47.6073346

FAQs

What type of property is this?
Apartment building - 45-unit multifamily building with value-add potential in Seattle's First Hill.
Where is this apartment building located?
The property is located at 805 Marion St Seattle, WA.
What are key features of this property?
This property features: - Prime location in Seattle's First Hill, near Downtown, Capitol Hill, and major employers.; - Significant value-add potential through strategic interior renovations, with projected rent growth of 18-30%.; - Stable occupancy and long-term value in a high-demand rental market.
More about this property
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