Property Details

16 Valley St
Seattle, WA 98109
$6,995,000
CBA# 708782 courtesy of CBA Listing firm: Lee & Associates Commercial Real Estate Services

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16 Valley St, Seattle

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Commercial
Property Type
13,716
Bldg Sq Ft
23
Units
4.00%
Cap Rate
1928
Year Built

Property Overview

We are pleased to present the Ella Robert, a 23-unit apartment community located on the south slope of the highly desirable Queen Anne neighborhood, considered by many to be the heart center of Seattle. Originally constructed in 1928, the building blends timeless architectural character with thoughtful modernization, offering residents a refined living experience that pairs charm with today’s most desired amenities.Ella Robert is a classic brick veneer, wood-frame building with extensive system upgrades valued over $1.1M including updated electrical and plumbing systems and a roof replacement completed in 2020. reinforcing long-term durability while limiting near-term capital exposure. The property also offers 14 secure garage parking stalls with sprinklers. Select units enjoy views of the Seattle skyline, Space Needle, Mount Rainier, and Elliott Bay, enhancing resident appeal and overall rentability.Ownership has demonstrated exceptional pride of stewardship, investing in capital improvements over the past 25 years. 17of the 23 units have been remodeled, with 18 units featuring in-unit laundry. Renovated units include modernized kitchens and bathrooms, updated systems, refinished hardwood floors, and improved layouts. There is a rare penthouse unit which can used as a pied-à-terre and Airbnb unit. The remaining classic units provide a clear runway for continued rent growth and value creation.Complementing the interior upgrades is a private, terraced courtyard with a patio, turf and garden areas offering a desirable outdoor space, a rare feature in this urban core location. With below-market rents, operational flexibility including a potential short-term rental component, and close proximity to Climate Pledge Arena and Seattle Center, the Ella Robert represents a compelling opportunity and a rare chance to steward a legacy asset in a trophy Seattle location.Trophy property on the south slope of Queen Anne with views of Downtown Most sought after “Walker’s Paradise” location steps from Climate Pledge Arena and Seattle Center, with select units offering Space Needle and Mount Rainier views and peekaboo Elliott Bay water views.

Property Details

Property Information

Property Type Commercial Sale
Status Pending
County King
Listed Jun 25, 2026

Financial Summary

Cap Rate 4.00%

Building & Use

Building Sq Ft 13,716
Total Units 23
Zoning LR3(M)
Possible Use Multi-Family
Year Built 1928

Exterior & Lot

Year Built 1928

Location

City Seattle
County King
Coordinates 47.62660, -122.35600
Listed By
Candice Chevaillier, CCIM
Lee & Associates Commercial Real Estate Services

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