he Kenneth Apartments presents an exceptional investment opportunity in Seattle's desirable Lower Queen Anne neighborhood, just one block from Climate Pledge Arena and steps from Seattle Center, the Space Needle, dining, shopping, and entertainment. Built in 1925, this 24-unit property features classic brick and terra cotta architecture with a mix… Read More of 3 efficiency units, 9 studios, and 12 one-bedroom apartments. The property offers approximately 13,545 rentable square feet, seven surface parking stalls, and on-site laundry. Capital improvements include updated electrical panels, double-pane windows, a new boiler in 2023, and an updated fire alarm panel in 2018. Original hardwood floors, millwork, and built-ins provide character and opportunities for value-add renovations. Offered at approximately $198,000 per unit, The Kenneth provides investors with an opportunity to increase rental income through interior improvements and bringing rents closer to market levels. An assumable interest-only loan offers an additional financing option, subject to lender approval. Ideally positioned near major employment centers in Downtown Seattle and South Lake Union, The Kenneth combines historic charm, rental upside, and an outstanding urban location. Read Less
Listing courtesy of Kidder Mathews
Listing Snapshot
Cumulative Days Active
2
Last Updated
Property Type
Multi Family
Square Ft.
13,545
Lot Size
0.17 Acres
Year Built
1925
Property Tax
$52,505
MLS Number
2595687
Additional Details
Building
Built in 1925, Built in 1925 (effective), 3 stories, Construction Materials: Brick
Cooling
None
Expenses
Electric: $10,630, Fuel: $10,631, Insurance: $16,165, Other Expense: $62,602
Exterior Features
Brick
Floors
Hardwood, Vinyl Plank
Foundation
Slab
Heating
Baseboard
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $397,508, Net Operating Income: $258,522
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 ,
Confirm your time
Fill in your details and we will contact you to confirm a time.