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Hill Town 2201 S Main St 12 Unit Apartment Building $3,452,175 CAD ($287,681 CAD/Unit) 5.36% Cap Rate Seattle, WA 98144
Investment Highlights
- Excellent Central Seattle location – near Downtown and Lake Washington
- 12 units – 6 one-beds and 6 two-beds, all with decks and spacious layouts
- Decks and dining areas, and updates to flooring, baths, and kitchens in select units
- Walker’s Paradise walk score of 94 – near restaurants, coffee shops, parks, and entertainment
- Updated electrical panels and dual-pane windows, 7 parking spaces (6 covered and 1 off-street)
- Value-add opportunity – Likely potential for rent upside, as current rents are $2.24 per foot
Executive Summary
Excellent Central Seattle location – near Downtown and Lake Washington
Walker’s Paradise walk score of 94 – near restaurants, coffee shops, parks, and entertainment
12 units – 6 one-beds and 6 two-beds, all with decks and spacious layouts
Updated electrical panels and dual-pane windows
7 parking spaces – 6 covered and 1 off-street
Decks and dining areas, and updates to flooring, baths, and kitchens in select units
Value-add opportunity – Likely potential for rent upside, as current rents are $2.24 per foot
Priced at just over $208K per unit and $284 per foot
Average unit size of 733 square feet
Walker’s Paradise walk score of 94 – near restaurants, coffee shops, parks, and entertainment
12 units – 6 one-beds and 6 two-beds, all with decks and spacious layouts
Updated electrical panels and dual-pane windows
7 parking spaces – 6 covered and 1 off-street
Decks and dining areas, and updates to flooring, baths, and kitchens in select units
Value-add opportunity – Likely potential for rent upside, as current rents are $2.24 per foot
Priced at just over $208K per unit and $284 per foot
Average unit size of 733 square feet
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$326,272
|
$29.05
|
| Other Income |
$27,155
|
$2.42
|
| Vacancy Loss |
$13,033
|
$1.16
|
| Effective Gross Income |
$340,394
|
$30.31
|
| Taxes |
$51,468
|
$4.58
|
| Operating Expenses |
$104,057
|
$9.27
|
| Total Expenses |
$155,525
|
$13.85
|
| Net Operating Income |
$184,869
|
$16.46
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $326,272 |
| Annual Per SF | $29.05 |
| Other Income (CAD) | |
|---|---|
| Annual | $27,155 |
| Annual Per SF | $2.42 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $13,033 |
| Annual Per SF | $1.16 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $340,394 |
| Annual Per SF | $30.31 |
| Taxes (CAD) | |
|---|---|
| Annual | $51,468 |
| Annual Per SF | $4.58 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $104,057 |
| Annual Per SF | $9.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $155,525 |
| Annual Per SF | $13.85 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $184,869 |
| Annual Per SF | $16.46 |
Property Facts
| Price | $3,452,175 CAD | Building Class | C |
| Price Per Unit | $287,681 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 11,230 SF |
| Cap Rate | 5.36% | Average Occupancy | 92% |
| Gross Rent Multiplier | 9.8 | No. Stories | 3 |
| No. Units | 12 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 0.62/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | NC3-75 (M) | ||
| Price | $3,452,175 CAD |
| Price Per Unit | $287,681 CAD |
| Sale Type | Investment |
| Cap Rate | 5.36% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 11,230 SF |
| Average Occupancy | 92% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 0.62/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | NC3-75 (M) |
Amenities
Unit Amenities
- Balcony
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $2,016 CAD | 565 |
| 2+1 | 6 | $2,516 CAD | 900 |
Exceptionally walkable
90/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 364610-0310 | Total Assessment | $4,964,723 CAD (2025) |
| Land Assessment | $2,223,840 CAD (2025) | Annual Taxes | $51,468 CAD ($4.58 CAD/SF) |
| Improvements Assessment | $2,740,883 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
364610-0310
Land Assessment
$2,223,840 CAD (2025)
Improvements Assessment
$2,740,883 CAD (2025)
Total Assessment
$4,964,723 CAD (2025)
Annual Taxes
$51,468 CAD ($4.58 CAD/SF)
Tax Year
2026
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Hill Town | 2201 S Main St
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