Clift House Apartments

08-16-2021
09-01-2021

301 E Thomas St, Seattle, WA 98102

This concrete and steel beauty sits upon a bluff that will forever provide its tenants with an unobstructed view of the Seattle Skyline and the Olympic Mountains. One look at the Seattle skyline and the many high-rise cranes dotting the landscape is proof enough of the strong belief investors have in Seattle's rental future. The Clift House, with its ideal location and its unobstructed views is well positioned to command a piece of this promising future at top of the market rental rates. Minor upgrades and the addition of in-unit washers and dryers will capture the young urban professional. The close by Light Rail station, within walking distract of the Clift House has already triggered a way of growth in the urban core and will soon link the entire Puget Sound region from Everett to Tacoma. 

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
1bd/1ba 4 586 $ 1,135
1bd/1ba 4 604 $ 1,233
1bd/1ba 4 626 $ 1,316
2bd./1ba 5 921 $ 1,834

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multi-family type
Mid-Rise
Price
$ 5,350,000
No. of Units
17
Cap Rate
3.04%
GRM / GIM
16.67
Average Occupancy
95%
Year Built
1959
Building Size
12,187 Sq ft
Lot Size
7,200 Sq ft
No. of Stories
4
Zoning Code
Midrise (MR)
No. of Parking Spots
12
Opportunity Zone
On
Price per unit
$ 314,706

Financial Details

Income/Expense Info
Actual
Gross Income
$ 322,680
Operating Expenses
$ 143,923
Net Operating Income
$ 162,623
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