Moorea Apartments

The Moorea offers investors the rare opportunity to acquire a turn-key asset in one of Seattle’s best neighborhoods with historically low vacancy rates and consistently high appreciation. An in-place 4.5% cap rate results in immediate cash flow out of the gate, with income upside potential as units turn over and rents are brought to market rates. The property, which was built in 1950, consists of a mix of 3 studios, 9 1-bedroom units, and 3 2-bedroom units. All but two of the units have been nicely renovated with quartz countertops, tiles backsplashes, new appliances, refinished hardwoods or new LTV floors, new carpet, and new paint.