Property Details
16 Valley Street
Seattle, WA 98109
$6,995,000
Pending Inspection
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Property Overview
Trophy 23 unit apartment community on the coveted south slope of Queen Anne, offering iconic Downtown Seattle views. Located in a true “Walker’s Paradise” just steps from Climate Pledge Arena and Seattle Center, nearly half the units capture views of the Space Needle, Mount Rainier, and partial Elliott Bay. Built in 1928, Ella Robert blends timeless architecture with thoughtful modernization. Over $1.1M has been invested in capital improvements, including updated electrical and plumbing systems, a 2020/2021 roof replacement, and a well maintained elevator, minimizing near term capital needs. The property features 14 secure sprinklered garage parking stalls, 20 on site storage units plus additional owner storage, and a private terraced courtyard with patio, turf, and garden areas, an uncommon amenity in this urban core setting. 17 of 23 units have been fully renovated, with 18 offering in unit laundry. Six units have partial updates, with plumbing already stubbed to streamline future renovations. A rare penthouse unit offers flexibility as a luxury owner’s pied à terre with income potential, previously utilized as a short term rental. With below market rents and clear upside through continued upgrades, rent optimization, and expense efficiencies, Ella Robert presents a rare opportunity to steward a legacy asset in one of Seattle’s most sought after neighborhoods.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
King
Neighborhood
Queen Anne
Listed
Feb 23, 2026
Structure Type
Multi Family
Parcel Number
3879900135
Tax & HOA
Annual Property Tax
$55,346 (2025)
Est. Monthly Tax
$4,612/mo
Financial Summary
Cap Rate
4.80%
Net Operating Income
$335,581
Gross Scheduled Income
$550,176
Gross Rent Multiplier
12.70
Total Expenses
$239,286
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
15,627
Leasable Area
11,567 sqft
Total Units
23
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
11,069 sqft
Year Built
1928
Exterior & Lot
Lot Size
0.25 sqft
Year Built
1928
Garage
14 spaces
Exterior Materials
Brick
Sewer
Sewer Connected
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Brick
Community & Access
Directions
google map works
Location
City
Seattle
County
King
Coordinates
47.62645, -122.35599
Additional Information
Tax Year
2025
Annual Taxes
$55,346
Possession
Array
Based on information submitted to the MLS GRID as of June 11, 2026 11:45 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
