2515 Thorndyke Ave W
Seattle WA 98199
The Edge Magnolia
2515 Thorndyke Ave W Seattle WA 98199
Listing #: 686350 | Status: Available | Last Modified: 9/25/2024 |
For Sale
- Phone:(206) 604-3400
- Email:cchevaillier@lee-associates.com
- Office Name:Lee & Associates Comm R.E Serv
- Office Phone:(206) 624-2424
- Office Website:www.lee-nw.com
- Agent Phone:(206) 773-2696
- Agent Email:dlim@lee-associates.com
- Agent Phone:(206) 773-2680
- Agent Email:dsumantri@lee-associates.com
- Agent Phone:(925) 719-3480
- Agent Email:clarsen@lee-associates.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 4,250,000.0
- $/SF$ 451.2
- $/Unit$ 4,250,000.0
- Listing StatusAvailable
- Days on Market22
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income327,570
- Vacancy Factor %5.00%
- Operating Expenses96,143
- Net Operating Income215,048
- CAP Rate 5.45 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.45 %
- Building StatusExisting
- # of Buildings1
- # of Floors3
- # of Units13
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF9420
- Net Rentable Area9420
- Total Office SF
- Largest Contiguous SF
- Lot SF10890
- Acres0.25
- Property TypeMulti-Family
- Office Type
- InvestmentYes
- Building ClassB
- CountyKing
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaQueen Anne/Magnolia
- Tax ID #2771600575
- Additional Parcels
- ZoningLR3(M)
- # Covered Spaces10
- # Uncovered Spaces-10
- Total Parking Spots0
- Parking Ratio
- Year Built1959
- Year Renovated2016
- Completion Date
- Roof Type
- Construction TypeBrick, Wood
Truly Turnkey Opportunity - Magnolia 13 Units
The Edge Apartments in Seattle’s Magnolia neighborhood. Well-positioned within an attractive residential location, this 1959 constructed 13-unit building received a full renovation in 2016. The eight 1-bedroom and five 2-bedroom units all feature quartz countertops, stainless appliances, in-unit washer/dryers, as well as LVT flooring in the common areas. Top floor units feature private balconies with peek-a-boo views of the Seattle and Puget Sound skyline. Some units feature fireplaces. A second story patio area complete with a grill is a popular amenity for tenants. The building also features 10 individual secured garage and storage spaces currently generating additional revenue. With proximity to some the city’s most popular parks and golf courses, the Edge provides investors a turn