Provided by NWMLS, Listed by Dan Swanson, Kidder Mathews

2600 1st Avenue

Seattle, WA, 98121

$6,300,000

$315 per ft²
$6,300,000
$315 per ft²
Active
Active
 - For Sale
carpenters-square
19,980 ft²
property_type
Multi-family
calendar
Built 1903
Built in 1903, the New Pacific Building is price at current cap rate of 6.2% and with a GRM at 9.7. Given the preliminary indications of 70% LTV bank financing, a 30% down payment is likely, generating a cash-on-cash return of over 5 % with room to grow. Further, the $6,300,000 list price equates to a per-unit cost of roughly $143,000, or $421 per rentable square foot. With its exceptional location near the Seattle waterfront and Downtown Seattle, combined with its solid cash flow and affordable rents, the New Pacific Building is a strong investment opportunity.
MLS® ID:
1996211
Listed:
9/13/22
Updated:
10/7/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Interior Features
Wall to Wall Carpet
Floor Description
Vinyl Plank, Carpet

Exterior/Building Features

Lot Size
6,660 ft² lot
Exterior Features
Brick, Stucco
Architectural Style
Multi Family
Lot Details
Alley, Corner Lot, Curbs, Paved, Sidewalk
Roof
Flat
Sewer
Sewer Connected

School Information

School District
Seattle
High School
Garfield High
Middle/Jr High
Meany Mid
Elementary School
Lowell

Other Property Details

Area Name
701 - Belltown/Downtn
Taxes
$33553
Tax Frequency
per YEAR
Garage
No
Parking
N
View
Y
County
King
Utilities
Sewer Connected, Electricity Available, Natural Gas Connected
Water Source
Public
Pool
No
Total Stories
3

Provided by NWMLS, Listed by Dan Swanson, Kidder Mathews

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Data last updated 10:07 PM UTC, 10/7/22

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