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213 1st Ave S 13 Unit Apartment Building $6,726,720 CAD ($517,440 CAD/Unit) 6.62% Cap Rate Seattle, WA 98104
Investment Highlights
- Tourist District
- Exposed Brick Walls
- Rooftop Decks, Views
Executive Summary
Invest in a piece of Seattle’s storied past with this turnkey mixed-use property in Pioneer Square. Dating back to 1900, this meticulously maintained 4 story building artfully blends historic character with modern enhancements, promising both dependable returns and future growth.
The residential section offers 13 tastefully designed units, including 4 upscale penthouses with rooftop decks, 4 spacious lofts, 4 efficient micro lofts, and 1 expansive studio. Units feature open layouts, contemporary finishes, and rich hardwood flooring, with added conveniences like on-site laundry and an elevator servicing all four floors.
On the ground level, two retail spaces are fully leased, ensuring steady cash flow. Set on bustling 1st Street with street parking and a Walk Score of 96, this asset stands as a dynamic investment opportunity in the heart of Pioneer Square.
The residential section offers 13 tastefully designed units, including 4 upscale penthouses with rooftop decks, 4 spacious lofts, 4 efficient micro lofts, and 1 expansive studio. Units feature open layouts, contemporary finishes, and rich hardwood flooring, with added conveniences like on-site laundry and an elevator servicing all four floors.
On the ground level, two retail spaces are fully leased, ensuring steady cash flow. Set on bustling 1st Street with street parking and a Walk Score of 96, this asset stands as a dynamic investment opportunity in the heart of Pioneer Square.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,726,720 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $517,440 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.62% | Building Size | 13,592 SF |
| No. Units | 13 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1900/1970 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | PSM100 | ||
| Price | $6,726,720 CAD |
| Price Per Unit | $517,440 CAD |
| Sale Type | Investment |
| Cap Rate | 6.62% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 13,592 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1900/1970 |
| Opportunity Zone |
Yes |
| Zoning | PSM100 |
Amenities
Unit Amenities
- Kitchen
- Hardwood Floors
- Oven
- Range
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Laundry Facilities
- On-Site Retail
- Walking/Biking Trails
- Storage Space
- Elevator
- Public Transportation
Exceptionally walkable
90/100
Moderately drivable
60/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 524780-0110 | Total Assessment | $5,194,806 CAD (2024) |
| Land Assessment | $1,981,012 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $3,213,794 CAD (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
524780-0110
Land Assessment
$1,981,012 CAD (2024)
Improvements Assessment
$3,213,794 CAD (2024)
Total Assessment
$5,194,806 CAD (2024)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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213 1st Ave S
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