Listing courtesy of Lee & Associates Commercial RE
$2,495,000
We are pleased to present the Cremona Apartments, an 11unit apartment community built in 1961, offered to the market fully vacant at closing. This rare delivery provides investors and owner-occupants alike the immediate ability to lease all units at current market rents, pursue targeted renovations, or both with no displacement… Read More concerns and no inherited lease obligations. The building offers a well-rounded unit mix of one studio, six one-bedrooms, one one-bedroom plus den, and three two-bedrooms, set on a quiet residential street with six surface parking spaces. The common area, which houses individual storage units and a shared laundry hookup, is generously proportioned and may present an opportunity to incorporate into the adjacent studio unit as additional net rentable space, buyer to verify. Centrally positioned between Ballard, Fremont, South Lake Union, and Downtown Seattle, residents enjoy convenient access to the city’s most active employment corridor, with Meta, Apple, Anthropic, Google, Amazon, and Expedia all within easy reach. The Cremona Apartments represent an immediate executable opportunity in one of Seattle’s most desirable and supply-constrained neighborhoods. Delivered vacant, priced for today’s market, and positioned within minutes of Seattle’s strongest employment and lifestyle anchors, this is a rare chance for a new owner to set rents, define the tenant profile, and reposition the asset from day one with zero friction. Read Less
Listing courtesy of Lee & Associates Commercial RE
Listing Snapshot
Cumulative Days On Market
95
Days on Website
95
Last Updated
Property Type
Multi Family
Square Ft.
6,417
Lot Size
0.22 Acres
Year Built
1961
Property Tax
$24,414
MLS Number
2550353
Additional Details
Building
Built in 1961, Built in 1990 (effective), 3 stories, Construction Materials: Brick, Cement, Wood
Cooling
None
Expenses
Insurance: $8,800, Other Expense: $25,134
Exterior Features
Brick, Cement/Concrete, Wood
Floors
Laminate, Carpet
Foundation
Poured Concrete
Heating
Baseboard
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $220,140, Net Operating Income: $158,315
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listings last updated on ,
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