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Listings/Allview Apartments

Allview Apartments

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Site Details

Address
4427 5th Ave NE, Seattle
Parcel Number
313120-1910
Parcel Size
10,300 SF
Zoning
HALA: NC3P-55(M)

Development Details

Units
12
Year Built
1959
Years Renovated
2014-2017
NRSF
7,980 SF
Avg Unit Size
665 SF

Investment Opportunity

Allview presents investors with the unique opportunity to add value in multiple ways—both short term and long term.

Current rental rates are well below market, and new property management would be the easiest way to add considerable value. Upgrading the two remaining classic units, and transforming the two under-utilized storage areas into residential units, will further maximize the building’s value.

When Allview is firing on all cylinders, the savvy investor may then turn their focus toward potential development options, using the cash flow to help offset development and permitting costs.

Raise Rents

Raise rents of renovated units to market rates.

Finish Full Renovation

Finish renovation of two remaining classic units and convert storage areas into two new units.

Future Development Options

Rare NC3P zoning allows for a variety of uses with no parking requirement.

Location

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Allview Apartments

4427 5th Ave NE
Seattle, WA 98105
Units: 12
Price: $3,800,000

About the Area

Wallingford’s unique character stems from its development as a “Streetcar Suburb” in the 1920s. Bookended by Green Lake and Gas Works Park, the family-friendly neighborhood is primarily residential in nature, with North 45th Street serving as the heart of commercial activity.

Easy access to the necessities—grocery stores, banks, and pharmacies—is complemented by an abundance of local restaurants, taverns, and specialty shops that truly make Wallingford an attractive urban destination.

Easy pedestrian access across I-5 also connects residents to the thriving University District. Six minutes by bike or 12 minutes on foot takes you to the bustling “Ave” along University Way Northeast at the edge of the UW campus.

Unmatched proximity to I-5, SR 520, prime bus routes, and the forthcoming U District light rail station also ensures quick commutes to employment centers around the Puget Sound.

87

Walk Score

84

Bike Score

78

Transit Score

Contact Us

Exclusive Listing Brokers

Colliers International WA LLC is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of the Allview Apartments.

Direct: 206.414.8575

       
       

Direct: 425.736.5516