ROSADA APARTMENTS

Value-Add Multifamily Investment
1132 19th Avenue ​ | ​ Seattle, WA 98122
 

Summary

Colliers Pacific Northwest Multifamily Advisors present the Rosada Apartments, a value-add investment opportunity nestled in the heart of Capitol Hill, where life in Seattle is lived. This property provides excellent cash flow, as well as a perfect opportunity to affect a significant upside to income. The asset is comprised of five one-bedroom units. The homes feature spacious floorplans, lots of natural lighting and unique vintage charm. The lot also contains a large back yard that can be turned into an amenity space to boost marketability, income and occupancy retention.

 

Located in a top-tier Seattle submarket, Rosada is surrounded by one of the fastest growing job markets in the country. Capitol Hill provides easy access to both the Seattle’s Central Business District and the Eastside, and is walking distance to Seattle University, Seattle Central College, First Hill Medical District, the Pike/Pine Corridor, Broadway, and the 15th Ave retail corridor. Tenants will enjoy the phenomenal location, access to amenities, and their comfortable apartment homes – as an owner you will enjoy the strong cashflow and ability to easily boost your returns.

 

This asset provides an opportunity for an investor to take advantage of easy upside plus value appreciation in an A+ location within one of the best rental markets on the West Coast.

Property Highlights
INCOME UPSIDE

Through unit upgrades and capturing potential for utility recovery and off-street parking

 

 
CORE CAPITOL HILL LOCATION

96 Walk Score, walking distance to Pike/Pine, Broadway, Madison St, East Union St, and 23rd Ave

 

 
AMENITY ADDITION

Excess space in the back yard presents the opportunity to add an amenity boost to income, marketability, and maintain occupancy

GOOD BONES

Well maintained with no deferred maintenance and proficient systems will allow for easy management

Opportunity

Pricing Summary

Purchase Price:

$1,245,000

 

Price Per Unit:

$249,000

 

Price Per NRSF:

$390

 

Market Cap Rate:

5.0%

 

2020 Cap Rate:

4.0%

 

Property Summary

Address:

1132 19th Avenue, Seattle, WA 98122

 

Site Area:

4,850 SF (0.11 acres)

 

Parcel:

722850-2570

Zoning:

SF 5000

 

NRSF:

3,189

 

Average Unit SF:

651

Year Built:

1922

 

Units:

5

Photos

Location

Rosada has a Walk Score of 96, a Walker’s Paradise, where daily errands do not require a car. Along Broadway East, tenants can access the light rail station, which offers unobstructed passage to Downtown Seattle (three minutes), University of Washington (three minutes), and Seatac Airport (40 minutes). Also on Broadway, the First Hill Streetcar provides quick transport from Capitol Hill, past Seattle University and into the International District, where riders can connect to Union Station for interstate bus and train voyages. Walking distance to eight bus routes, offering a cheap, swift journey to anywhere in the city and beyond.

Contact Us

Tim
McKay

Senior Vice President

+1 206 223 5586

Tim.McKay@colliers.com

Dan
Chhan

Senior Vice President

+1 206 223 1265

Dan.Chhan@colliers.com

Sam
Wayne

Senior Vice President

206 515 4498

Sam.Wayne@colliers.com

Matt
Kemper

Vice President

+1 206 515 4495

Matt.Kemper@colliers.com

Adam Groberman

Associate

+1 425 922 3571

Adam.Groberman@colliers.com