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The Davison Apartments
5003 15th Ave NE Seattle WA 98105
Listing #: 660936 | Status: Available | Last Modified: 6/28/2023
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Investment Information | |
|---|---|
| Investment Prop | Yes |
| Gross Income | 530,061 |
| Vacancy Factor % | 5.00% |
| Operating Expenses | 178,144 |
| Net Operating Income | 325,413 |
| CAP Rate | 5.41 % |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Total Units | 22 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Financial Summary | |
|---|---|
| CAP Rate | 5.414 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 3 |
| # of Units | 22 |
| # of Elevators | 0 |
| A/C | Yes |
| Total Building SF | 22,018 SF |
| Net Rentable Area | 16,848 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 8,220 SF |
| Acres | 0.19 |
| Year Built | 1926 |
| Year Renovated | 2018 |
| Roof Type | Tile/Torch Down |
| Sprinklers | Yes |
| Construction Type | Brick, Concrete, Masonry |
| Property Type | |
|---|---|
| Property Type | Multi-Family |
| Investment | Yes |
| Location | |
|---|---|
| County | King |
| Vicinity | 50th and 15th Ave. NE |
| Location Description | 2 blocks East of I-5 in the University District |
| Cross Street | 15th Ave. NE |
| Market Area | U-District |
| Tax ID # | 8816400420 |
| Zoning | LR3 |
| Parking Information | |
|---|---|
| #Covered Spaces | 6 |
| # Uncovered Spaces | -6 |
| Total Parking Spots | 0 |
Pride of Ownership University District Value Add O
SEE_NOTES
The Davison, a 23-unit apartment building in the heart of the Seattle’s University District neighborhood and walking distance to the University of Washington. Designed by British architects, Stuart and Wheatly, the Davison was constructed in 1926 with an attractive period brick façade, detailed cornice and parapet work. Ownership is actively moving rents towards market rates at renewal and is currently sending 6 month rent increase notices to tenants, improving current income numbers. It is a well-maintained building featuring spacious units averaging over 670 sf per unit with a unit mix of 10 studios and 13 1-bedrooms (buyer to verify). Units feature elegant crown molding, oak hardwood floors and vintage penny tile. Most units feature newer kitchen cabinets and granite countertops as
Low Rise
The Davison Apartments
5003 15th Ave NE Seattle WA 98105
Listing #: 660936 | Status: Available | Listing Date: 12/15/2022 | Last Modified: 6/28/2023 | Email Listing
For Sale
The Davison Apartments
