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The Argyle

Located in downtown Seattle, The Argyle consists of 12 spacious studio style apartment units. Residents are greeted with the city at their doorstep, a short walk to the stadiums and a brief stroll to Pike Place Market. Fully rehabbed in the past few years, the asset is operated as furnished housing with both shorter and longer term residents. This turn key asset offers investors great cash flow on a low maintenance asset. Additionally, there is upside opportunity for investors with the ability to add 2 apartment units or commercial space in the basement. The owner is currently in negotiations with a commercial tenant to take the basement space at a rent of $1500/month.

Address

411 Jefferson St
Seattle, WA 98104

Type

Multi-Family

Status

Sold

Price

$ 3,050,000

Cap Rate

5.89%

# of Units

12

Price per Unit

$ 254,166

Available SF

8,324 SF

Price Per SF

$ 366.41

Land Area

2,400 SF

Year Built

1902

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