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Listed by:Kidder Mathews • Max Frame
$ 3,300,000
Est. payment | /mo
3 Beds
2 Baths
9,999 SqFt
$ 3,300,000
Est. payment | /mo
3 Beds
2 Baths
9,999 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,999 sqft
Price per Sqft $330
Subdivision Montlake
MLS Listing ID 2595724
Style 56 - 10+ Units
Bedrooms 3
Year Built 1961
Annual Tax Amount $34,874
Lot Size 0.264 Acres
Lot Dimensions 11504
Property Sub-Type Multi Family
Property Description
The John Henry Apartments presents an exceptional investment opportunity in Seattle's highly desirable Laurelhurst neighborhood. Located at 4001 NE 50th Street, this well-maintained, 14-unit apartment community offers convenient access to Seattle Children's Hospital, University Village, and the University of Washington. Built in 1961, the property features a desirable unit mix of nine one-bedroom and five two-bedroom apartments, averaging approximately 714 square feet. Property amenities include 14 off-street parking stalls, 14 individual tenant storage units, shared laundry facilities, and private patios in select units. Recent improvements include a new roof installed in 2019, double-pane vinyl windows, and updated LVP flooring in most units. Spacious floor plans and thoughtful updates enhance the property's appeal. Offered at $3,300,000, or approximately $236,000 per unit, The John Henry provides investors with strong in-place cash flow at a 5.9% cap rate, along with additional rental upside. Available for the first time in over 20 years, this is a rare opportunity to acquire a well-located multifamily asset in one of Seattle's premier residential neighborhoods.
Location
State WA
County King
Area 390 - Central Seattle
Interior
Fireplace false
Exterior
Exterior Feature Brick, Stucco
View Y/N No
Roof Type Flat
Building
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://simonandersonteam.com/listings/john-henry/
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