Casa Del Rey is a 27-unit mixed-use asset with three retail shops, including a T-Mobile lease, in the heart of Capitol Hill on an iconic street. Residents step out the front door and are blocks from the Link Light Rail Station, Cal Anderson Park, and the Pike/Pine retail corridor. Apartments average 517 SF and enjoy one of Seattle's most walkable, amenity-rich locations. Strong in-place cash flow with a clear path to a 7.5% cap by lifting average rents ~9.8% to current high-water marks. Seller will consider attractive below-market seller-financing terms; inquire for details.
Property Features
Bedrooms
- Bedrooms: 1
- Bedrooms Possible: 14
Heating and Cooling
- Fuel Expense: 18853
- Heating Features: Forced Air
- Heating Fuel: Electric
- Heating: Yes
- Number of Fireplaces: 0
Interior Features
Garage and Parking
- Covered Spaces: 0
- Open Parking: No
Land Info
- Lot Description: Curbs, Paved, Sidewalk, Value In Land
- Lot Size Acres: 0.1312
- Lot Size Dimensions: 5714
- Lot Size Square Feet: 5714
Home Features
- View: City, Lake, Territorial
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
Rental Info
- Gross Scheduled Income: 650868
- Leasable Area: 15560
Multi-Unit Info
- Number of Units: 27
- Bedrooms in Unit-1: 0
- Bedrooms in Unit-2: 1
- Bedrooms in Unit-3: 0
- Bedrooms in Unit-4: 0
- Bedrooms in Unit-5: 0
- Bedrooms in Unit-6: 0
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Unit-1 Square Feet: 426
- Unit-2 Square Feet: 601
- Unit-3 Square Feet: 646
- Unit-4 Square Feet: 964
- Unit-5 Square Feet: 829
- Unit 1 Total Actual Rent: 1272
- Unit 2 Total Actual Rent: 1659
- Unit 3 Total Actual Rent: 3500
- Unit 4 Total Actual Rent: 4665
- Unit 5 Total Actual Rent: 5386
- Unit 6 Total Actual Rent: 2750
School Information
- High School District: Seattle
- School District: Seattle
Other Property Info
- Annual Tax Amount: 67567
- Source Listing Status: Active
- County: King
- Cap Rate: 6.5
- Directions: 321 Broadway East Seattle, WA 98102
- Tax Year: 2025
- Other Expense: 119472
- Source Property Type: Multi Family
- Insurance Expense: 60000
- Area: 390 - Central Seattle
- List Development Name: North Capitol Hill
- Source Neighborhood: North Capitol Hill
- Parcel Number: 6850700380
- Subdivision: North Capitol Hill
Commercial Info
- Net Operating Income: 402352
- Operating Expense: 303596
Building and Construction
- Year Built: 1910
- Building Area Total: 15560
- Building Area Units: Square Feet
- Construction Materials: Brick, Brick
- Foundation Details: Poured Concrete
- Property Age: 115
- Property Condition: Good
- Roof: Flat
- Building Total Stories: 4
- Structure Type: Multi Family
- House Style: 10+ Units
- Elevation Units: Feet
- Year Built Effective: 1910
Utilities
- Electric Expense: 18852
- Power Production Type: Electric
- Sewer: Sewer Connected
