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1718 Summit Ave 1718 Summit Ave 11 Unit Apartment Building $2,484,738 CAD ($225,885 CAD/Unit) 6.18% Cap Rate Seattle, WA 98122

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EXECUTIVE SUMMARY

The Investment Sales Group & Keller Williams Commercial is pleased to present 1718 Summit Avenue, a multifamily asset located in one of Seattle's most bustling and desirable neighborhoods. This secure access building offers a highly desirable mix of studio and one-bedroom units, with the added appeal of city views from the top floor. The property also includes five off-street parking spaces, a rare and valuable amenity in this prime urban core location, significantly enhancing its attractiveness to prospective tenants. The top floor units boast vaulted ceilings, offering a distinctive feature that further elevates the property's desirability.

With a stable operational history and significant upside potential through strategic renovations, this property presents an attractive opportunity for investors seeking strong long-term returns in a growing market.

1718 Summit Avenue is ideally located in one of Seattle's most bustling neighborhoods, offering unrivaled access to the city's vibrant lifestyle and amenities. This prime location, combined with the property’s unique features and strong growth potential, makes it a standout opportunity for investors looking to capitalize on Seattle’s dynamic real estate market.

ATTACHMENTS

Summit Ave- OM

PROPERTY FACTS

Price $2,484,738 CAD
Price Per Unit $225,885 CAD
Sale Type Investment
Cap Rate 6.18%
Gross Rent Multiplier 9.8
No. Units 11
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class C
Lot Size 0.11 AC
Building Size 8,700 SF
Average Occupancy 95%
No. Stories 3
Year Built 1961
Parking Ratio 0.57/1,000 SF
Zoning MR, Seattle

AMENITIES

UNIT AMENITIES

  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Range

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
Studios 6 - 380
1+1 5 - 500
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (96)
Bike Score®
Very Bikeable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
880490-0720
Land Assessment
$2,791,840 CAD
Improvements Assessment
$266,621 CAD
Total Assessment
$3,058,461 CAD
  • Listing ID: 38267683

  • Date on Market: 2025-10-30

  • Last Updated:

  • Address: 1718 Summit Ave, Seattle, WA 98122

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