805 Marion St Seattle, WA 98104

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.