Log In/Sign Up
Your email has been sent.
University Heights 1417 NE 55th St 6 Unit Apartment Building $3,254,225 CAD ($542,371 CAD/Unit) 5.54% Cap Rate Seattle, WA 98105
Investment Highlights
- Well located in dynamic University District neighborhood
- Updated plumbing and electrical
- Assumable financing at 5.5% interest-only for two years fixed for four years
- All units fully remodeled to a premium scope
- Kitchens feature white shaker cabinets, solid surface counters and stainless-steel appliances
- 0.5 mile to U-District light rail station
Executive Summary
CBRE is pleased to present the University Heights Apartments, a fully renovated six-unit multifamily asset located in Seattle’s thriving University District. This turn-key investment offers strong in-place cash flow with a 5.54% cap rate and a rare opportunity to acquire a boutique property featuring large, spacious units—five two-bedrooms and one one-bedroom—each fully remodeled to a premium standard in 2021–2022. Each unit showcases modern finishes including white shaker cabinetry, solid surface countertops, and stainless-steel appliances. Recent capital improvements include a new roof, windows, exterior paint, and updated plumbing and electrical systems, ensuring minimal near-term maintenance.
Property Facts
| Price | $3,254,225 CAD | Building Class | C |
| Price Per Unit | $542,371 CAD | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 5,406 SF |
| Cap Rate | 5.54% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1918/2021 |
| Property Subtype | Apartment | Parking Ratio | 0.46/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LR3, Seattle | ||
| Price | $3,254,225 CAD |
| Price Per Unit | $542,371 CAD |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 5,406 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1918/2021 |
| Parking Ratio | 0.46/1,000 SF |
| Zoning | LR3, Seattle |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (74)
Bike Score®
Biker's Paradise (97)
Property Taxes
| Parcel Number | 871460-0040 | Improvements Assessment | $623,748 CAD |
| Land Assessment | $1,579,705 CAD | Total Assessment | $2,203,453 CAD |
Property Taxes
Parcel Number
871460-0040
Land Assessment
$1,579,705 CAD
Improvements Assessment
$623,748 CAD
Total Assessment
$2,203,453 CAD
1 of 16
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
University Heights | 1417 NE 55th St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.