4270-4280 50Th St Seattle, WA 98105
- Residential income homes
- 10,100 SF
Current Use by Public Records
- Residential income homes
Property Details for 4270-4280 50Th St
- Year built
- 2019
- Property size
- 10,100 SF
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a portfolio of five Class A townhomes in Seattle's desirable Laurelhurst neighborhood, totaling 10,100 square feet. Built in 2019, each unit boasts 2,020 square feet of modern living space, featuring four bedrooms, 2.5 bathrooms, an attached garage, mini-split A/C, tankless water heaters, and ample storage. The top-floor master suites offer deluxe baths, walk-in closets, and stunning Seattle views. Currently operating at 80% occupancy, the property generates a $179,000 NOI, with a pro-forma NOI of $198,702 reflecting market-rate rents, which are 10% higher than current levels. The asking price is $4,750,000, representing a $470 per square foot cost and a 3.80% cap rate (4.20% pro-forma). Situated on a 6,740 square foot lot, each townhome sits on its own tax lot, offering the flexibility to sell individually or as a cohesive investment. The property's prime location offers convenient access to Children's Hospital, Burke-Gilman Park, Laurelhurst Elementary, and is just one mile from the University of Washington and University Village. This presents a unique opportunity to capitalize on the appreciating Seattle real estate market, with the potential for significant future returns. Individual lease details for each unit are available upon request. The property is priced at $950,000 per unit.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Seattle
- County
- King
- State
- Washington
- Longitude
- -122.281
- Latitude
- 47.6651
