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2220 Minor Ave E

Seattle, WA 98102

$7,475,000

Apartments For Sale  •  21,500 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 17,116 Sq Ft
  • Lot Size 0.3 ac
  • Building Class C
  • Year Built 1966
  • Cap Rate 3.47 %
  • Zoning LR3
59 Transit Score
81 Walk Score

Description

Elizabeth is located at 2220 Minor Avenue East, in the Eastlake neighborhood of 
Seattle, WA.  Eastlake is a centrally located, core Seattle neighborhood located along the east shore of Lake Union.   Historically known to command some of the highest rents in the Puget Sound Region and to have among the lowest vacancy rates, Eastlake is one of the most sought-after sub-markets in Seattle.  

Eastlake is centrally located in Seattle, and in close proximity to the region’s best employers.  Elizabeth is less than two miles away from Amazon World Headquarters in the South Lake Union neighborhood just to the south, and the Bill & Melinda Gates Foundation which is located just to the southwest.   Just across the University Bridge to the north are the Wallingford & Fremont neighborhoods which are home to Google, Adobe, Tableau Software and many other technology companies; with the University of Washington located approximately 1.5 miles to the northeast.

Highlights

Prime Eastlake location
All units face Lake Union(west) with balconies & lake views
Building has been meticulously maintained
2 bedroom units all have wood burning fireplaces & W/D in the units
Copper plumbing & modern electrical distribution throughout
New Roof & Decks

Property Flyers

Financial Summary (Actual)

Net Operating Income: $259,159 (2019)
Cap Rate: 3.47 %
Total Expenses: $108,840

Public Transportation

Commuter RailDriveWalkDistance
King Street (Seattle) Station Commuter Rail (Sounder South Line) 7 min - 4.0 mi
Transit/SubwayDriveWalkDistance
Fairview & Campus Drive Transit Stop (South Lake Union Streetcar) 3 min 18 min 0.9 mi
Fairview Ave N & Aloha St Transit Stop (South Lake Union Streetcar) 3 min 18 min 0.9 mi
Fairview Ave N & Ward St Transit Stop (South Lake Union Streetcar) 3 min 18 min 0.9 mi
AirportDriveWalkDistance
Seattle-Tacoma International Airport 18 min - 16.1 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Will Gibson 206-491-4292 Portage Bay Advisors
Will Gibson 206-491-4292 Portage Bay Advisors