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Maplewood Apartments
Sale Price: $8,200,000
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Property Details
Sale Details
Opportunity
24-Unit Value-Add Apartment Building in Seattle’s University District
- Walking Distance to UW, one of the best Universities in the world, #6 Globally and #2 in the US. (US News and World Report)
- Maplewood features large units in exceptional condition. Ability to raise rents 20%+ after light renovations.
- Less than a 10-minute walk to countless restaurants, nightlife, amenities, and regional light rail station.
- First time on the market legacy asset. Developed, owned, and managed by the family since 1985.
Location
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About the Area
University District
The University District is experiencing a renaissance. The University of Washington’s rapid expansion over the last decade, especially in the fields of engineering, computer science, and life sciences, is drawing top talent to the university and the surrounding area.
The neighborhood is thriving thanks to the University’s growth, offering a vibrant and diverse atmosphere with a range of amenities and job opportunities. Public transportation is well-established with the addition of a new light rail station on “The Ave,” and new developments continue to increase the density in the area. The U-District has always been a favorite destination for students seeking books, coffee, and food, but it is now transforming into Seattle’s next technology and life science hub.
# 1 MOST INNOVATIVE U.S. PUBLIC UNIVERSITY
Reuters Top 100: The World's Most Innovative Universities
#2 U.S. PUBLIC INSTITUTIONS
U.S. News & World Report's Best Global Universities
#6 GLOBAL UNIVERSITY RANKING
U.S. News & World Report's Best Global Universities
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