512 5th Ave West Seattle, WA 98119

Highlights:

• One-, two-, and three-bedroom apartment homes in a premier Lower Queen Anne location
• Mid-century classic thoughtfully renovated to blend vintage character with modern upgrades
• Select units feature sweeping views of Elliott Bay
• Renovation drove substantial unit-level rent increases, resulting in meaningful cash flow and value growth
• Significant redevelopment upside, with potential to build 150 units overlooking Elliott Bay
• Sold to a developer in 2018, generating a substantial windfall for investors

Financials:

• Purchase Price (2015): $3.7 million
• CapEx: $800,000
• Sales Price (2018): $7 million