sold

Listings/2020 at Lake Union

2020 at Lake Union

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Sold $5,000,000

Please visit our Listings page to view apartment buildings and development land currently on the market.

Property Summary

Address
2020 Minor Ave E, Seattle, WA
Year Built
1965
Total Units
11
NRSF
9,380 SF / 853 SF
Parking
13 spots
Laundry
2 common laundry rooms (W/D in unit #11)
Land Area
8,800 SF
Zoning
LR3 (M)
Storage
Bike and watercraft

Tax Information

Number of Parcels
1
Parcel Number
290220-0310
Land Size
8,800 SF
Zoning
LR3 (M)
2021 Property Tax
$39,978

Investment Opportunity

MODERNIZE

While the property has been meticulously cared for, a full modernization would allow for rent increases up to 30%

SPLIT UNIT

Add a 12th unit by turning the top floor 3 bed unit to 2 units and reap the income benefits. Conceptual plans in data room and Marketing Flyer.

DEV. POTENTIAL

Current zoning, LR3 (M) would permit the addition of 2-4 townhomes in a portion of the current parking area or the addition of 12-15 apartments.

Location

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2020 at Lake Union

2020 Minor Ave E
Seattle, WA 98102
Units: 11
Price: $5,000,000

Location Overview

2020 Lake Union is located in Seattle’s Eastlake neighborhood, one of the most coveted pockets in the Puget Sound.

Resting right on Lake Union, Eastlake boasts an escape from the city while being less than a 10 minute drive away from Downtown CBD. Ever since Amazon moved into the neighborhood, we have seen walkable dining and retail flourish along the lake. The property is also minutes away from the vibrant Capitol Hill neighborhood that lives a flourish of nightlife and restaurants alike. There are also many local parks that residents will be very close to including Rogers Playground, Harvard Miller / Roanoke Annex, Lynn Street Park and Gas Works Park. With transit to downtown, Capitol Hill and University of Washington, Eastlake has a small suburb feel in the middle of it all which has been attractive for renters and investors for years.

275,035

POPULATION (3 MI)

41.5

MEDIAN AGE (.5 MI)

$219,898

AVG HOUSEHOLD INCOME (.5 MI)

Contact Us

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Direct: 206.414.8575