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Listed by:Westlake Associates, Inc. • Chad Michael Martini
$4,200,000
Est. payment /mo
18 Beds
13 Baths
9,420 SqFt
New
2515 Thorndyke AVE W Seattle, WA 98199
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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,420 sqft
Price per Sqft $445
Subdivision Magnolia
MLS Listing ID 2566437
Style 56 - 10+ Units
Bedrooms 18
Year Built 1959
Annual Tax Amount $33,567
Lot Size 10,492 Sqft
Property Sub-Type Multi Family
Property Description
Constructed in 1959 and comprehensively renovated in 2016, The Edge Apartments is an exceptional 13-unit apartment community offers investors a rare opportunity to acquire a stabilized, turn-key asset in one of Seattle's most desirable rental markets. The extensive renovation modernized the property throughout, including updated plumbing and electrical systems, creating a low-maintenance investment with strong in-place cash flow and long-term ownership appeal. The property consists of 8 one-bedroom and 5 two-bedroom apartments, each designed with finishes that today's renters value. Every unit features quartz countertops, stainless steel appliances, in-unit washers and dryers, and contemporary LVT flooring in the common areas. Select apartments include fireplaces, while the top-floor residences enjoy private balconies with peek-a-boo views of the Seattle skyline and Puget Sound. Residents also benefit from a spacious second-floor patio with a community grill, providing an attractive outdoor gathering space that enhances the tenant experience. The property offers an attractive value-add component through ten individual secured garage and storage spaces. Currently generating approximately $10,800 in annual income, these oversized garages provide immediate supplemental revenue with meaningful upside through rent increases to market rates. The property is well-positioned to capitalize on continued tenant demand for secure parking and storage.
Location
State WA
County King
Area 700 - Queen Anne/Magnolia
Interior
Flooring Vinyl Plank, Carpet
Fireplace false
Exterior
Exterior Feature Wood
Garage Spaces 10.0
Amenities Available Deck, Patio
View Y/N Yes
View City, Partial
Roof Type Flat
Building
Lot Description Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Nearby Locations
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