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Roxborough Apartments
Sale Price: $17,400,000
For more information about this property, please contact the listing broker.
Please visit our Listings page to view apartment buildings and development land currently on the market.
The Perfect Mix
Roxborough Apartments was listed and broadly marketed by the apartment sales team of Jerrid Anderson, Dylan Simon, and Matt Laird. An extensive marketing campaign produced a competitive set of offers, which ultimately led to a non-contingent offer from an extremely proven and validated buyer.
The marketing and sales process ultimately produced an excellent sales result for both seller and buyer – with the sales team again setting benchmark pricing for a classic Capitol Hill apartment building.
Kidder Mathews’ Multifamily Investment Team is pleased to have exclusively represented the seller, Hamilton Urban Partners in this transaction.
Sale Details
Property Summary
Investment Opportunity
Building: Timeless, brick-clad building featuring tastefully-appointed units and upgraded systems complemented by a conjoining new-construction addition boasting upscale unit finishes and highly-coveted modern amenities that are shared by all residents.
Value-Add Opportunity: Unlock upside of Historic Charm and Modern Luxury by fully renovating the classic units. Comparable buildings with upgraded kitchens, bathrooms and washer/dryers have achieved $500+ per unit rent increases.
Location: At the center of it all with an inviting neighborhood feel. Residents enjoy a short walk to stores, restaurants, and entertainment, a quick bike or bus ride into Downtown or SLU, and ease of access along 23rd to the Eastside by car. Any amenity a tenant could want is within reach.
Building
Historic charm meets modern luxury
Value-Add Opportunity
Unlock upside by fully renovating the classic units
Location
At the center of it all with an inviting, neighborhood feel
Location
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Roxborough Apartments
1720 E Denny Way
Seattle, WA 98122
Units: 53
Price: $17,400,000
The Best of Old & New
Historic charm meets modern luxury transcends the physical walls of Roxborough Apartments – it is reflected all around on the streets of Capitol Hill.
Since 2010, more than 5,000 apartment units have been developed in Capitol Hill. While this inevitably brings a change to the landscape of the neighborhood, efforts to preserve historic buildings have maintained countless elements of the Hill’s past.
Consistently one of Seattle’s most popular neighborhoods, Capitol Hill’s reputation for bottomless-mimosa brunches, cream-cheese hot dog carts, and thrift shops remains a large draw for the city’s younger residents. The majority of this activity converges along Broadway and the Pike/Pine Corridor, streets lauded for being the vibrant anchors of the neighborhood.
Minutes away from the action, Roxborough residents enjoy a pocket of quiet residential streets – less noise and nightlife without sacrificing the bars, restaurants, and eclectic, independent businesses that appeal to the tastes and ideals of Seattleites.
Quick connections to employers in South Lake Union, Downtown, the University District, and the Eastside via SR 520 clinch Roxborough’s value as an ideal location to call home.
Neighborhood Amenities
From the old school roots that put Capitol Hill on the map emerge new micro-markets and burgeoning retail amenities that orbit Roxborough Apartments – the ultimate convergence of livability and desirability for residents.
It’s as if the hub-and-spoke model of city planning has been implemented in reverse as Capitol Hill has grown and seen commercial zones both sprout and expand – and Roxborough Apartments is the lucky hub.
Pike/Pine Corridor
To the southwest, the Pike/pine Corridor has long been a source of vibrancy for the neighborhood, yet in the last decade new investment, development, and premier retailers turned these connector streets into a true anchor for the community.
Madison
Turning east, pockets of retail along Madison Street evolved into the Madison-Miller and Madison Valley micro-markets. Once just stops on the way to Madison Park Beach, bars, restaurants, and local retailers have turned these spokes into destinations of their own.
19th Avenue
Just north of Roxborough is the newest spoke: 19th Avenue E. Tucked among single-family homes and small apartment buildings, the recent construction of new multifamily developments enabled the quiet expansion of a new foodie nook – and where the foodies go, all else will follow.
15th Avenue
Last but not least, the 15th Avenue Retail Corridor holds the honorary title of “grown-up Capitol Hill.” While the physical landscape has been largely untouched by development over the last decade, 15th Ave perfectly balances the local character Seattleites have to live with and the basic amenities they can’t live without.
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Exclusive Listing Brokers
Kidder Mathews is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of Roxborough Apartments.
