4217 Greenwood Ave N Immeuble residentiel 8 lots 3 319 800 € (414 975 €/Lot) Taux de capitalisation 3,46 % Seattle, WA 98103

Built in 1991 by the current owner, 4217 Greenwood Ave N is on the market for the first time. Conveniently located in Seattle’s desirable upper Fremont neighborhood, 4217 Greenwood Ave N is just four blocks north of the many entertainment, shopping, and culinary options along Fremont’s commercial corridor. The property is comprised of 8 homes averaging roughly 880 square feet, each boasting 2 bedrooms and 2 bathrooms, and one of which is a 1,100-SF penthouse featuring a large living room, walk-in closets, and an expansive deck, originally occupied by the current owner/original builder. Current rents are below market and provide significant upside for the next owner without the necessity of renovation.
The 1991 building features modern systems and sprinklers, and includes secured entry, covered/secured parking for 11 vehicles, 2 spacious storage rooms, and 9 resident storage lockers. Inside, units feature laundry, decks, multiple closets, and dining areas, with upper-floor west-facing units boasting views of Ballard and the Lake Washington Ship Canal, and east-facing units providing Downtown/ South Lake Union views.
Within blocks, hungry or thirsty residents can satisfy their cravings with their choice of banh mi, bibimbaps, crab rolls, hoagies, Pad Thai, Phos, scotch eggs, steamed buns, sushi rolls, tacos, tamales, thalis, and vindaloos, not to mention craft cocktails and many other options. For recreation, options include the Burke Gilman Trail, Gas Works Park, Woodland Park and Zoo, Green Lake Park, and the Fremont Canal Park. Three bus lines have stops within a half mile and take riders to the major employment hubs of Downtown Seattle and South Lake Union, as well as to Ballard, Crown Hill, Greenwood, Northgate, and Shoreline. Additionally, residents of 4217 Greenwood Ave N enjoy the benefits of living on a quiet, residential street surrounded mostly by single-family homes.
While maintaining the property in excellent condition, the ownership has not kept up with market rents. Given the demand for two-bedroom/two-bath units with laundry in Fremont, there is substantial upside of nearly 30% with increases possible to rent, parking, storage, and utility charges.
This property, constructed and maintained with pride by its current owner, is an exceptional opportunity both for an investor and for an owner/user interested in occupying the penthouse unit. The excellent Fremont location, spacious in-demand units, 1991 construction with modern systems and sprinklers, secure garage parking, and meticulously maintained condition make it an attractive asset that should provide long-term value.