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6512 Phinney Ave
Seattle, WA 98103
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Attractive In-Place Yield: 5.95% in-place cap rate on 100% occupancy, with upside to market rents.
- Irreplaceable Phinney Ridge Location: Positioned on Phinney Ave N at 65th, with easy access to Downtown Seattle, South Lake Union, Fremont, Ballard
- Capital Improvements in Place: Fully rewired main building with newer electrical panels in both structures, plus double-pane vinyl windows throughout
- Diverse Six-Unit Mix: Three one-bedroom apartments, one 1,732 SF three-bedroom/two-bath penthouse with private rooftop deck and Green Lake views
- Owner-User Optionality: 1,732 SF three-bedroom penthouse with private rooftop deck and Green Lake views offers a rare live/invest opportunity
- Detached 2004 Townhome: A differentiated rental product built 54 years after the main structure, offering privacy and appeal
Executive Summary
We are pleased to present Bella Marie, a fully occupied six-unit multifamily property with ground-floor retail located in Phinney Ridge, one of Seattle’s most desirable residential neighborhoods.
The property consists of two buildings. The main building, constructed in 1950, houses three one-bedroom apartments, a two-story three-bedroom/two-bath penthouse residence with a private rooftop deck overlooking Green Lake, and ground-floor retail along Phinney Ave. A detached one-bedroom townhome built in 2004 sits atop a three-car garage, offering additional privacy and a differentiated rental experience. The main building has been fully rewired with newer electrical panels, and all windows have been updated to double-pane vinyl throughout.
Offered at a 5.95% in-place capitalization rate with additional upside to market rents, the asset combines stabilized cash flow with an irreplaceable Phinney Ridge location — convenient to Downtown Seattle, South Lake Union, Fremont, and Green Lake, with strong neighborhood walkability and proximity to Woodland Park Zoo.
The property consists of two buildings. The main building, constructed in 1950, houses three one-bedroom apartments, a two-story three-bedroom/two-bath penthouse residence with a private rooftop deck overlooking Green Lake, and ground-floor retail along Phinney Ave. A detached one-bedroom townhome built in 2004 sits atop a three-car garage, offering additional privacy and a differentiated rental experience. The main building has been fully rewired with newer electrical panels, and all windows have been updated to double-pane vinyl throughout.
Offered at a 5.95% in-place capitalization rate with additional upside to market rents, the asset combines stabilized cash flow with an irreplaceable Phinney Ridge location — convenient to Downtown Seattle, South Lake Union, Fremont, and Green Lake, with strong neighborhood walkability and proximity to Woodland Park Zoo.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 698 - 700 |
| 3+2 | 1 | - | 1,732 |
Property Taxes
| Parcel Number | 675870-0025 | Improvements Assessment | $1,170,020 CAD |
| Land Assessment | $1,093,655 CAD | Total Assessment | $2,263,676 CAD |
Property Taxes
Parcel Number
675870-0025
Land Assessment
$1,093,655 CAD
Improvements Assessment
$1,170,020 CAD
Total Assessment
$2,263,676 CAD
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