15
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Listed by Paragon Real Estate Advisors
$3,200,000
Est. payment /mo
18 Baths
8,700 SqFt
New
221 Belmont AVE E Seattle, WA 98102
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,700 sqft
Price per Sqft $367
Subdivision Capitol Hill
MLS Listing ID 2441868
Style 56 - 10+ Units
Year Built 1928
Annual Tax Amount $36,914
Lot Size 4,800 Sqft
Property Sub-Type Multi Family
Property Description
18-unit multifamily property located in the heart of Capitol Hill. Significant recent upgrades—including new electrical service mains and subpanels (2013) and high-efficiency tankless water heaters (2022). Offered at just $177,778/unit and $368/SF, The Strand represents a compelling basis play in the heart of Capitol Hill. The property delivers a current 5.9% cap rate, giving investors durable in-place income along with the upside potential of interior enhancements and rent growth in one of Seattle's most sought-after rental markets. The Strand offers a rare opportunity to secure a character-rich asset at an attractive cost basis and benefit from continued appreciation in one of Seattle's most resilient, high-demand submarkets.
Location
State WA
County King
Area 390 - Central Seattle
Interior
Flooring Hardwood, Laminate
Fireplace false
Exterior
Exterior Feature Brick
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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