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Twin Cedars Apartments 3510 W Elmore St 8 Unité Immeuble d’appartements 3 346 536 $ CAD (418 317 $ CAD/Unité) 5,28% Taux de capitalisation Seattle, WA 98199
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Faits saillants de l'investissement
- Prime Magnolia Location - Steps from Discovery Park
- Stabilized Asset with Immediate Upside - In-Place RUBS & Pet Rent, Uncaptured Parking & Bike Storage Income Available
- Tenant-Favored Unit Mix - 5 Spacious 2 Bedroom Units
- Clear Value-Add Path - Addition of In-Unit Laundry Upon Turnover
Résumé de l'annonce
We are pleased to present Twin Cedars Apartments, an 8-unit apartment community built in 1968 in Seattle’s coveted Magnolia neighborhood, within steps of Discovery Park. The building offers three one-bedrooms averaging 732 square feet and five two-bedrooms averaging 967 square feet, with efficient, light-filled floor plans designed for livability. With two-bedroom units comprising 63% of the building, the unit mix is squarely aligned with the unit type that drives the strongest tenant demand and longest retention across Seattle’s rental market.
Seven of the eight units have been updated with stone countertops and LVP flooring, delivering a modernized interior foundation that appeals to today’s renters. Cedar siding resided in 2020 and a roof replacement the same year keep the exterior in sound condition, and a newly improved bike storage room adds a practical amenity that current ownership has not yet monetized. Parking income similarly remains uncaptured, giving a new owner immediate, low-effort revenue opportunities from day one.
Twin Cedars operates with discipline already in place. RUBS and pet rent keep utility costs off the owner’s bottom line, and a stable, long-tenured tenant base reflects both the building’s quality and the neighborhood’s enduring appeal. With in-place rents close to market, the clearest path to income growth is the addition of in-unit laundry upon turnover. Comparable Magnolia buildings demonstrate rental premiums of 15% or more from this single upgrade, and combined with parking and bike storage activation, the income levers are identified, accessible, and ready for a new owner to execute.
Seven of the eight units have been updated with stone countertops and LVP flooring, delivering a modernized interior foundation that appeals to today’s renters. Cedar siding resided in 2020 and a roof replacement the same year keep the exterior in sound condition, and a newly improved bike storage room adds a practical amenity that current ownership has not yet monetized. Parking income similarly remains uncaptured, giving a new owner immediate, low-effort revenue opportunities from day one.
Twin Cedars operates with discipline already in place. RUBS and pet rent keep utility costs off the owner’s bottom line, and a stable, long-tenured tenant base reflects both the building’s quality and the neighborhood’s enduring appeal. With in-place rents close to market, the clearest path to income growth is the addition of in-unit laundry upon turnover. Comparable Magnolia buildings demonstrate rental premiums of 15% or more from this single upgrade, and combined with parking and bike storage activation, the income levers are identified, accessible, and ready for a new owner to execute.
Faits sur la propriété
| Prix | 3 346 536 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 418 317 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 0,16 AC |
| Taux de capitalisation | 5,28% | Taille du bâtiment | 7 021 pi² |
| Multiplicateur du loyer brut | 13 | Occupation moyenne | 96% |
| Nombre d’unités | 8 | Nombre d’étages | 3 |
| Type de propriété | Immeuble residentiel | Année de construction/rénovation | 1968/1992 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 1,14/1 000 pi² |
| Zonage | L3, Seattle - LR3 (M) | ||
| Prix | 3 346 536 $ CAD |
| Prix par unité | 418 317 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 5,28% |
| Multiplicateur du loyer brut | 13 |
| Nombre d’unités | 8 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,16 AC |
| Taille du bâtiment | 7 021 pi² |
| Occupation moyenne | 96% |
| Nombre d’étages | 3 |
| Année de construction/rénovation | 1968/1992 |
| Ratio de stationnement | 1,14/1 000 pi² |
| Zonage | L3, Seattle - LR3 (M) |
Commodités
Commodités des unités
- Balcon
- Espace d'entreposage
- Chauffage
- Réfrigérateur
- Four
- Fourchette
- Bain/Douche
- Terrasse
- Plancher de vinyle
Commodités du site
- Espace d'entreposage
- Entreposage de vélo
- Sans ascenseur
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 1+1 | 3 | 2 534 $ CAD | 722 - 732 |
| 2+1 | 5 | 2 849 $ CAD | 967 |
1 1
Assez accessible à pied
40/100
Moyennement adapté aux voitures
70/100
Transports en commun limités
30/100
Moyennement accessible en vélo
60/100
Impôts fonciers
| Numéro de lot | 423540-0605 | Évaluation des bâtiments | 1 300 997 $ CAD |
| Évaluation du terrain | 1 748 433 $ CAD | Évaluation totale | 3 049 430 $ CAD |
Impôts fonciers
Numéro de lot
423540-0605
Évaluation du terrain
1 748 433 $ CAD
Évaluation des bâtiments
1 300 997 $ CAD
Évaluation totale
3 049 430 $ CAD
Contacts
-
Candice Chevaillier, CCIM -
Dea Sumantri -
Daniel Lim -
Lee & Associates Commercial Real Estate Services
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Vidéos
Visite extérieure 3D Matterport
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Photos
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Présenté par
Twin Cedars Apartments | 3510 W Elmore St
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