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Val Anne Apartments 800 Queen Anne Ave N 49 Unit Apartment Building $21,764,959 CAD ($444,183 CAD/Unit) 4.73% Cap Rate Seattle, WA 98109
Investment Highlights
- Popular Queen Anne location with a walk score of 96
- Community roof-top terrace with sweeping city views
- Desirable blend of junior studios, one and two-bedroom units,
- Trophy asset with multiple value-add opportunities
- Extensively renovated in 2019
- Sweeping views from private balconies
Executive Summary
Amazing opportunity to acquire a 49 unit, fully renovated trophy asset with value-add opportunities. Extensively renovated in 2019, the Val Anne offers highly sought after classic mid-century modern units. Great unit mix of Junior Studio, 1BD, 2BD and 2 penthouse units. 19 units have views of the City Skyline and Puget Sound; in addition, 9 units enjoy private balconies. The two Penthouse units are in a league of their own with sweeping views of the city and sound and private decks. This is an exceptional opportunity for a new investor to acquire a top-quality investment offering long-term appreciation. attractive rent growth and multiple value add opportunities.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$1,029,702
|
$30.27
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,029,702 |
| Annual Per SF | $30.27 |
Property Facts Under Contract
| Price | $21,764,959 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $444,183 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 4.73% | Building Size | 36,732 SF |
| Gross Rent Multiplier | 11.74 | No. Stories | 5 |
| No. Units | 49 | Year Built/Renovated | 1958/2019 |
| Property Type | Multifamily | Parking Ratio | 0.79/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MR (M) | ||
| Price | $21,764,959 CAD |
| Price Per Unit | $444,183 CAD |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| Gross Rent Multiplier | 11.74 |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 36,732 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1958/2019 |
| Parking Ratio | 0.79/1,000 SF |
| Zoning | MR (M) |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 13 | $1,887 CAD | 420 |
| 1+1 | 32 | $2,387 CAD | 624 |
| 2+1 | 2 | $2,789 CAD | 680 |
| 2+2 | 1 | $4,081 CAD | 1,180 |
| 3+2 | 1 | $5,849 CAD | 1,720 |
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Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (89)
Property Taxes
| Parcel Number | 387990-0165 | Improvements Assessment | $3,165,022 CAD |
| Land Assessment | $11,639,115 CAD | Total Assessment | $14,804,137 CAD |
Property Taxes
Parcel Number
387990-0165
Land Assessment
$11,639,115 CAD
Improvements Assessment
$3,165,022 CAD
Total Assessment
$14,804,137 CAD
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Val Anne Apartments | 800 Queen Anne Ave N
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