The Lanning | 219 Belmont Ave E
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The Lanning 219 Belmont Ave E Immeuble residentiel 11 lots 2 930 582 € (266 417 €/Lot) Taux de capitalisation 6,38 % Seattle, WA 98102
Certaines informations ont été traduites automatiquement.
RÉSUMÉ ANALYTIQUE
The Lee & Associates Northwest | Multifamily Team is pleased to present The Lanning Apartments, an 11-unit apartment in the heart of Capitol Hill, one of Seattle’s most sought-after and walkable neighborhoods.
This well-maintained brick veneer building, originally constructed in 1910, offers spacious layouts averaging 827 SF, a rare find in a neighborhood known for compact apartments. The unit mix consists of 10 one-bedroom units and 1 two-bedroom unit, kitchens and bathrooms that have been updated on turnover, well-preserved original hardwood floors, and in-unit washers and dryers in 10 of the 11 apartments.
Just steps from Broadway’s vibrant retail corridor, the Capitol Hill Light Rail Station, and South Lake Union, The Lanning provides tenants with seamless access to top-tier employment, nightlife, and daily conveniences.
Currently operating with below market rents, The Lanning presents a clear value-add opportunity. Investors can recapture existing loss-to-lease through strategic rent increases while further enhancing revenue potential with interior upgrades, unit modernizations, and cosmetic enhancements, fully leveraging the above-market unit sizes in Capitol Hill’s high-demand rental market.
Whether repositioning as a bespoke high-end rental with distinctive character or realizing efficiencies as stabilized asset, The Lanning represents an unparalleled opportunity to own in one of Seattle’s most resilient and dynamic submarkets.
Pride of Ownership Building – Trophy property with classic brick charm
Above Average Sized Units – 1 bedrooms average 800 SF, 2 bedrooms 1,100 SF
Premier Walkability – Blocks from Broadway, the Capitol Hill light rail station and Pike/Pine retail, supports desired urban lifestyles
Significant Upside – Realize 20% upside on Loss-to-Lease in current rents and additional lift through value-add renovations
Top Performing Core Neighborhood - Provides future investors an opportunity to own a true centrally located asset with strong tenant demand for years to come
This well-maintained brick veneer building, originally constructed in 1910, offers spacious layouts averaging 827 SF, a rare find in a neighborhood known for compact apartments. The unit mix consists of 10 one-bedroom units and 1 two-bedroom unit, kitchens and bathrooms that have been updated on turnover, well-preserved original hardwood floors, and in-unit washers and dryers in 10 of the 11 apartments.
Just steps from Broadway’s vibrant retail corridor, the Capitol Hill Light Rail Station, and South Lake Union, The Lanning provides tenants with seamless access to top-tier employment, nightlife, and daily conveniences.
Currently operating with below market rents, The Lanning presents a clear value-add opportunity. Investors can recapture existing loss-to-lease through strategic rent increases while further enhancing revenue potential with interior upgrades, unit modernizations, and cosmetic enhancements, fully leveraging the above-market unit sizes in Capitol Hill’s high-demand rental market.
Whether repositioning as a bespoke high-end rental with distinctive character or realizing efficiencies as stabilized asset, The Lanning represents an unparalleled opportunity to own in one of Seattle’s most resilient and dynamic submarkets.
Pride of Ownership Building – Trophy property with classic brick charm
Above Average Sized Units – 1 bedrooms average 800 SF, 2 bedrooms 1,100 SF
Premier Walkability – Blocks from Broadway, the Capitol Hill light rail station and Pike/Pine retail, supports desired urban lifestyles
Significant Upside – Realize 20% upside on Loss-to-Lease in current rents and additional lift through value-add renovations
Top Performing Core Neighborhood - Provides future investors an opportunity to own a true centrally located asset with strong tenant demand for years to come
INFORMATIONS SUR L’IMMEUBLE
| Prix | 2 930 582 € | Style d’appartement | De faible hauteur |
| Prix par lot | 266 417 € | Classe d’immeuble | C |
| Type de vente | Investissement | Surface du lot | 0,04 ha |
| Taux de capitalisation | 6,38 % | Surface de l’immeuble | 881 m² |
| Nb de lots | 11 | Occupation moyenne | 100% |
| Type de bien | Immeuble residentiel | Nb d’étages | 3 |
| Sous-type de bien | Appartement | Année de construction/rénovation | 1910/1965 |
| Prix | 2 930 582 € |
| Prix par lot | 266 417 € |
| Type de vente | Investissement |
| Taux de capitalisation | 6,38 % |
| Nb de lots | 11 |
| Type de bien | Immeuble residentiel |
| Sous-type de bien | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Surface du lot | 0,04 ha |
| Surface de l’immeuble | 881 m² |
| Occupation moyenne | 100% |
| Nb d’étages | 3 |
| Année de construction/rénovation | 1910/1965 |
LOT INFORMATIONS SUR LA COMBINAISON
| DESCRIPTION | NB DE LOTS | MOY. LOYER/MOIS | m² |
|---|---|---|---|
| 1+1 | 10 | - | 77 |
| 2+1 | 1 | - | 102 |
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Walk Score®
Idéal pour les promeneurs (97)
Transit Score®
Excellent réseau de transport en commun (88)
Bike Score®
Très praticable en vélo (78)
TAXES FONCIÈRES
| Numéro de parcelle | 684820-0606 | Évaluation des aménagements | 1 135 543 € |
| Évaluation du terrain | 1 761 101 € | Évaluation totale | 2 896 644 € |
TAXES FONCIÈRES
Numéro de parcelle
684820-0606
Évaluation du terrain
1 761 101 €
Évaluation des aménagements
1 135 543 €
Évaluation totale
2 896 644 €
ZONAGE
| Code de zonage | MR |
| MR |
CONTACTS
-
Daniel Lim -
Candice Chevaillier, CCIM -
Dea Sumantri -
Sara Bago -
Lee & Associates Commercial Real Estate Services
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The Lanning | 219 Belmont Ave E
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