5003 15th Ave NE
Seattle WA 98105

The Davison Apartments

5003 15th Ave NE Seattle WA 98105

Listing #: 681711 | Status: Available | Last Modified: 12/20/2024 |

For Sale
Candice Chevaillier, CCIM
Daniel Lim
Dea Sumantri
Chris Larsen
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo

SEE_NOTES

Price Information
  • Listing Price$ 5,100,000.0
  • $/SF$ 302.7
  • $/Unit$ 5,100,000.0
  • Listing StatusAvailable
  • Days on Market219
  • Asset ClassMulti-Family
  • Terms
Investment Information
  • Investment Type
  • Investment PropYes
  • Gross Income379,338
  • Vacancy Factor %5.00%
  • Operating Expenses150,674
  • Net Operating Income209,697
  • CAP Rate 4.47 %
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Financial Summary
  • CAP Rate 4.47 %
Associated Files
Building Information
  • Building StatusExisting
  • # of Buildings1
  • # of Floors3
  • # of Units22
  • # of Elevators0
  • A/CYes
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Total Building SF22018
  • Net Rentable Area16848
  • Total Office SF
  • Largest Contiguous SF
  • Lot SF8220
  • Acres0.19
Property Type
  • Property TypeMulti-Family
  • Office Type
  • InvestmentYes
  • Building Class
Location
  • CountyKing
  • Vicinity50th and 15th Ave. NE
  • Location Description2 blocks East of I-5 in the University District
  • Second Address
  • Cross Street15th Ave. NE
  • Market AreaU-District
  • Tax ID #8816400420
  • Additional Parcels
  • ZoningLR3
Parking Information
  • # Covered Spaces6
  • # Uncovered Spaces-6
  • Total Parking Spots0
  • Parking Ratio
Construction
  • Year Built1926
  • Year Renovated2018
  • Completion Date
  • Roof TypeTile/Torch Down
  • SprinklersYes
  • Construction TypeBrick, Concrete, Masonry

Handsome University District Value Add

Public Comments

The Davison a 23-unit apartment building in the heart of the Seattleā€™s University District neighborhood and walking distance to the University of Washington. Designed by British architects, Stuart and Wheatly, the Davison was constructed in 1926 with an attractive period brick façade, detailed cornice and parapet work. It is a well-maintained building featuring spacious units averaging 670 sf per unit with a unit mix of 10 studios and 13 1-bedrooms (buyer to verify). Units feature elegant crown molding, oak hardwood floors and vintage penny tile. Most units feature newer kitchen cabinets and granite countertops as well as vanities. The building also features five secure garage spaces with access off the alley. Sitting on an 8,220 sf LR3 zoned corner lot, the Davison is a handsome opportu

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