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Listings/Madison 2.0
Madison 2.0
On the Market
Price: $4,500,000
Offer Review Date: To be Announced
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Site Details
Development Details
Opportunity
Walkable to Seattle’s best nightlife, dining, and retail, Madison 2.0 is blocks from Capitol Hill Light Rail for a direct downtown commute
At $102,000 per unit, the asset is priced well below replacement cost, offering an attractive basis in a supply-constrained submarket. With only 139 units delivering across Capitol Hill, the diminishing supply pipeline supports continued rent growth and strong occupancy.
The opportunity is further underscored by its return profile. The property offers a 6.34% cap rate on current operations, providing strong day-one cash flow on in-place income, with a 7.42% market cap achievable through lease trade-outs.
Location
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About the Area
Capitol Hill boasts a near-perfect Walk Score, surrounded by eclectic dining, craft breweries, lively music venues, and trendy boutiques—all within easy reach. Its proximity to major employers such as Amazon, Google, Meta, Nordstrom, and the First Hill medical corridor (Swedish, Virginia Mason, and Harborview) fuels strong renter demand and consistently high occupancy rates fuels strong renter demand and consistently high occupancy rates. Convenient light rail access directly connects tenants to Downtown Seattle and the University of Washington, making this neighborhood equally attractive to students and professionals. As one of Seattle’s most resilient rental markets, Capitol Hill continues to benefit from strong rent growth, ensuring long-term investment stability.
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