Property Details

172 16th Ave

Seattle, WA 98122

$1,495,000

Available

CBA# 712293 courtesy of CBA Listing firm: Windermere-Midtown Commercial

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Commercial

Property Type

2,940

Bldg Sq Ft

Units

6.00%

Cap Rate

1900

Year Built

Property Overview

Exceptional owner / investor opportunity on a quiet, residential corner in the Central District. This 3,300 SF lot has a well-maintained & charming triplex with a non-conforming 4th unit, plus a 1 bd/1bth detached additional dwelling unit (DADU) built in 2017. Although there are 5 income generating units, this property qualifies for residential financing, opening the door to more attractive lending options. The fourplex has one 2 bd/1 bth and three 1 bd/1 bth units, each with updated systems, kitchens, and baths. Each floor plan is unique with lots of light, in-unit washer / dryer, dedicated outdoor space, and some featuring views of the Seattle skyline. The 1bd/1 bth DADU features an open floor plan with a modern design and a loft area for additional living space. Long-term development potential with the corner lot and LR2 zoning. Excellent opportunity for an investor seeking stable cash flow in a high-demand location or an owner-occupant looking to offset their mortgage payment with rental income.