Property Details

We are pleased to present the outstanding opportunity to acquire the 554 Prospect Apartments (“the Property”), an apartment property located in Seattle's Queen Anne neighborhood.Located in the charming and highly sought-after Queen Anne neighborhood, 554 Prospect consists of one studio, 2 two-bedrooms, and 2 two bedroom + den units. Originally built in 1909, the Property underwent a fully-permitted studs-out renovation in 2013, significantly upgrading its features and systems to compete with the best rental options in the submarket. Units include in-unit washers and dryers and come with a complementary storage unit. The studio is the only unit that utilizes the common laundry located in the unfinished basement area.Nestled in the heart of Queen Anne, one of Seattle’s most popular neighborhoods, residents at the Property are proximate to a variety of retail, entertainment, and cultural amenities, as well as the employment hubs of Downtown Seattle and South Lake Union. With over 4.2 million square feet of retail within 1 mile of the Property, this highly walkable location provides residents with the benefits of urban living in a suburban environment. Just an 11-minute walk from Seattle Center, residents also have immediate access to the iconic Space Needle, Pacific Science Center, Museum of Pop Culture, and Climate Pledge Arena. Also walkable from the Property is the famous Kerry Park, renowned for its breathtaking view of the Seattle skyline. Only a 1-minute drive to State Route 99, residents of the Property benefit from direct connectivity to the north, south, and central submarkets of Seattle. 554 Prospect represents an excellent opportunity for investors seeking both reliable cash flow and the potential for continued rent growth in Seattle's most desirable neighborhood.