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1814 E Denny Way
Seattle, WA 98122
Mod 19 · Multifamily Property For Sale
·
8 Units
Investment Highlights
- Built Green 4-Star certified apartment property constructed in 2014 by OneBuild
- Close proximity to Downtown Seattle, South Lake Union, Kaiser Permanente, Seattle University, and major tech/ biotech employment centers
- Modern finishes, in-unit laundry, hydronic radiant floor heating, and energy-efficient systems throughout
- Prime Capitol Hill location near 15th Ave, Broadway, Pike/ Pine, Volunteer Park, and Capitol Hill Light Rail.
- Unit mix includes four studios, three 2BR units, and one penthouse 2BR/2BA with rooftop deck and city/lake/ mountain views
- Unit mix includes four studios, three 2BR units, and one penthouse 2BR/2BA with rooftop deck and city/lake/ mountain views
Executive Summary
Westlake Associates, Inc. is proud to present Mod 19 Apartments, a rare opportunity to acquire a modern, Built Green 4-Star certified apartment property in the heart of Seattle’s thriving Capitol Hill neighborhood. Originally developed in 2014 using innovative modular construction technology by local builder OneBuild, the property offers investors a turn-key, energy-efficient asset in one of Seattle’s strongest urban rental markets.
Located along a quiet residential street between the vibrant 15th Avenue and 19th Avenue commercial corridors, Mod 19 offers residents immediate access to Capitol Hill’s restaurants, coffee shops, boutiques, grocery stores, and neighborhood amenities. Broadway, the Pike/Pine Corridor, Volunteer Park, and the Capitol Hill Light Rail Station are all within close walking distance, providing convenient access to Downtown Seattle, South Lake Union, the University District, and SeaTac Airport. Nearby demand drivers include Kaiser Permanente, Seattle University, and Seattle’s deep-rooted tech and biotech employment base centered in South Lake Union and Downtown Seattle.
Situated on a 4,000 square foot LR3-zoned lot, the property consists of eight thoughtfully designed units including four studios averaging approximately 255 SF, three 2BR/1BA units averaging approximately 620 SF, and a two-story penthouse 2BR/2BA unit totaling approximately 923 SF with expansive city, lake, and mountain views from the living room and private rooftop deck.
The property features modern finishes throughout including granite countertops, stainless steel appliances, in-unit laundry, tile bathrooms, vinyl plank flooring, and large dual-pane vinyl windows. Additional features include hydronic radiant floor heating, individual hot water tanks, and modern electrical, plumbing, roofing, siding, and window systems consistent with newer construction standards.
With modern design, durable construction, and an irreplaceable Capitol Hill location, Mod 19 Apartments offers investors a compelling combination of strong tenant demand, operational efficiency, and long-term appreciation potential in one of Seattle’s most supply- constrained urban neighborhoods.
- Durable newer-construction asset in one of Seattle’s most supply-constrained rental markets
- Priced approximately 15% below the property’s 2016 sale price
- Attractive in-place 5.0% cap rate with future rental upside potential
Located along a quiet residential street between the vibrant 15th Avenue and 19th Avenue commercial corridors, Mod 19 offers residents immediate access to Capitol Hill’s restaurants, coffee shops, boutiques, grocery stores, and neighborhood amenities. Broadway, the Pike/Pine Corridor, Volunteer Park, and the Capitol Hill Light Rail Station are all within close walking distance, providing convenient access to Downtown Seattle, South Lake Union, the University District, and SeaTac Airport. Nearby demand drivers include Kaiser Permanente, Seattle University, and Seattle’s deep-rooted tech and biotech employment base centered in South Lake Union and Downtown Seattle.
Situated on a 4,000 square foot LR3-zoned lot, the property consists of eight thoughtfully designed units including four studios averaging approximately 255 SF, three 2BR/1BA units averaging approximately 620 SF, and a two-story penthouse 2BR/2BA unit totaling approximately 923 SF with expansive city, lake, and mountain views from the living room and private rooftop deck.
The property features modern finishes throughout including granite countertops, stainless steel appliances, in-unit laundry, tile bathrooms, vinyl plank flooring, and large dual-pane vinyl windows. Additional features include hydronic radiant floor heating, individual hot water tanks, and modern electrical, plumbing, roofing, siding, and window systems consistent with newer construction standards.
With modern design, durable construction, and an irreplaceable Capitol Hill location, Mod 19 Apartments offers investors a compelling combination of strong tenant demand, operational efficiency, and long-term appreciation potential in one of Seattle’s most supply- constrained urban neighborhoods.
- Durable newer-construction asset in one of Seattle’s most supply-constrained rental markets
- Priced approximately 15% below the property’s 2016 sale price
- Attractive in-place 5.0% cap rate with future rental upside potential
Property Facts
| Price Per Unit | $439,687 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 5.03% | Building Size | 3,804 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2013 |
| Property Subtype | Apartment | ||
| Zoning | LR3 | ||
| Price Per Unit | $439,687 CAD |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 3,804 SF |
| No. Stories | 2 |
| Year Built | 2013 |
| Zoning | LR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $1,949 CAD | 255 |
| 2+1 | 3 | $3,088 CAD | 620 |
| 2+2 | 1 | $4,327 CAD | 923 |
Property Taxes
| Parcel Number | 570750-0035 | Improvements Assessment | $1,052,661 CAD |
| Land Assessment | $2,269,888 CAD | Total Assessment | $3,322,548 CAD |
Property Taxes
Parcel Number
570750-0035
Land Assessment
$2,269,888 CAD
Improvements Assessment
$1,052,661 CAD
Total Assessment
$3,322,548 CAD
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