403 E Thomas ST #1-9, Seattle, WA 98102
403 E Thomas ST #1-9, Seattle, WA 98102
403 E Thomas ST #1-9, Seattle, WA 98102
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Listed by:Kidder Mathews • Dan Swanson
$2,800,000
Est. payment /mo
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12 Beds
13 Baths
9,828 SqFt
Active

403 E Thomas ST #1-9 Seattle, WA 98102

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,828 sqft

Price per Sqft $284

Subdivision Capitol Hill

MLS Listing ID 2512757

Style 55 - 5-9 Units

Bedrooms 12

Year Built 1966

Annual Tax Amount $25,081

Lot Size 4,241 Sqft

Property Sub-Type Multi Family

Property Description

A rare opportunity to acquire a well-maintained 9-unit property in one of Seattle's most desirable rental markets. Built in 1966, this classic midcentury asset combines strong in-place income with meaningful upside potential in a premier Capitol Hill location. With a Walker's Paradise score of 95, it offers easy access to Downtown & SLU as well as to an abundance of neighborhood restaurants & retail. Within a 10-min walk there are 7 bus lines and a light rail station. The building features a highly rentable unit mix consisting of 4 two-beds, 4 one-beds, and 1 studio. There is a ±1,200-SF top-floor penthouse unit – ideal for an owner-occupant – offering two bedrooms plus a den, one-and-a-half bathrooms, and sweeping Downtown and Space Needle views. Edgene Apartments has been thought fully maintained and upgraded, including updated dual-pane windows, in-unit laundry and dishwashers in all units other than the studio, and elevator service. The property also offers an uncommon 11 parking spaces – 9 off-street and 2 garage – providing a valuable amenity in this dense urban neighborhood. New ownership may realize approximately ±20% income growth by raising rents to market, implementing RUBS, and monetizing parking. Condo documents are already in place comprising 12 parcels (1 for the land, 2 for parking, and 9 individual unit parcels), creating flexibility for future sell-off strategies and providing investors with both income growth potential and long-term disposition optionality.

Location

State WA

County King

Area 390 - Central Seattle

Interior

Fireplace false

Exterior

Exterior Feature Brick, Stucco

Garage Spaces 2.0

View Y/N Yes

View City, Partial

Roof Type Flat

Building

Lot Description Corner Lot, Curbs, Paved, Sidewalk

Sewer Sewer Connected

Water Public

New Construction No

Schools

Elementary Schools Lowell

Middle Schools Meany Mid

High Schools Garfield High

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

NEARBY SCHOOL & BUSINESS

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