221 Belmont Avenue E, Seattle, WA 98102
- $2,650,000
- 8,700
- SqFt
Listing courtesy of Paragon Real Estate Advisors. Selling Office: Sound Asset Partners LLC.
- Sold Price
- $2,650,000
- List Price
- $3,200,000
- Status
- SOLD
- MLS#
- 2441868
- Closing Date
- May 01, 2026
- Days on Market
- 128
- Style
- 56 - 10+ Units
- Finished SqFt
- 8,700
- Area Total SqFt
- 8700
- Annual Tax Ammount
- 36914
- Lot Size (sq ft)
- 4,800
- Sewer
- Sewer Connected
Property Description
18-unit multifamily property located in the heart of Capitol Hill. Significant recent upgrades—including new electrical service mains and subpanels (2013) and high-efficiency tankless water heaters (2022). Offered at just $177,778/unit and $368/SF, The Strand represents a compelling basis play in the heart of Capitol Hill. The property delivers a current 5.9% cap rate, giving investors durable in-place income along with the upside potential of interior enhancements and rent growth in one of Seattle’s most sought-after rental markets. The Strand offers a rare opportunity to secure a character-rich asset at an attractive cost basis and benefit from continued appreciation in one of Seattle’s most resilient, high-demand submarkets.
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Additional Information
- List Date
- 2025-12-24 00:00:00
- Community
- Capitol Hill
- Net Operating Income
- $188,065
- Gross Adjusted Income
- $305,637
- Gross Scheduled Income
- $321,723
- Total Monthly Income
- $26,810
- Insurance Expenses
- $19,623
- Water/Sewer/Garbage Expenses
- $20,031
- Gross Rent Multiplier
- 9.95
- Total Expenses
- $117,572
- Cap Rate
- 5.88
- Vacancy Rate
- 5
- Total Number of Units
- 18
- Unit Name
- 221
- Potential Terms
- Cash, Conventional
- Year Built
- 1928
- Roof
- Flat
- Other Expenses
- 41004
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $26,810
- Gross Scheduled Income
- $321,723
- Vacancy Rate
- 5
- Gross Adjusted Income
- $305,637
- Tax Year
- 2025
- Insurance Expense
- $19,623
- W/S/G Expenses
- $20,031
- Total Expenses
- $117,572
- Net Operating Income
- $188,065
- Gross Rent Multiplier
- 9.95
- Cap Rate
- 5.88
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.