Property Details

201 26th Ave E

Seattle, WA 98112

$1,999,950

Available

CBA# 715175 courtesy of CBA Listing firm: WindermereReal Estate Capitol Hill, Inc.

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Commercial

Property Type

2,600

Bldg Sq Ft

4.00%

Cap Rate

1962

Year Built

Property Overview

Corner double-lot opportunities like this simply don't come around: two side-by-side triplexes at 201 and 205 26th Ave E, offered together as a single six-unit assemblage commanding the corner of 26th Ave E and E John St, in one of Seattle's most desirable and centrally located neighborhoods just minutes from Downtown, South Lake Union, and the Eastside. Six two-bedroom apartments span the two matched buildings, with 201's spacious owner's suite a natural fit for an owner-occupant who wants to live in one home and let the others help carry it. With alley-accessed off-street parking and a full-corner footprint, it delivers the practical features investors and developers actually look for. All six units are income-producing, delivering in-place cash flow from day one. And the options are what set it apart: hold as-is for a stable six-unit income position in a location that consistently holds its value; redevelop under its LR3 (Lowrise 3) zoning, where the combined lots offer the density and scale for new townhomes or apartments that a single parcel can't match; or take the existing buildings through a full rehab and reposition them as modernized, higher-yield homes. A contiguous LR3 corner assemblage like this rarely trades, and almost never as a matched pair of side-by-side triplexes. Two Parcels 982870-2400 & 982870-2405