1417 East Howell Street, Seattle, WA

classic seattle charm, inside and out. 8 units with room to expand!

Project Start Date: June, 2016

Purchase Price: $1,745,000

Sales Price December 2018: $3,800,000

We purchased this charming 1925 Apartment House in 2016 with 8 existing units.  The building was in excellent shape and simply needed some cosmetic upgrades and tenant stabilization.  Between summer of 2016 and the end of 2017, we increased the rent stability from rents well below market rent to well within market rent levels.  We've provided additional security for the tenants, along with landscaping, new appliances where needed and repairs.  

1417 E. Howell Street in Seattle has a walk score of 98 and is just a couple of blocks away from the new Capitol Hill Light Rail station.  Much of the work we've done with this property involved subdividing the lot and the permitting process so that the rear portion of the lot can now have new multi family construction -- we created an even more fruitful investment property and the potential for more much-needed housing in this bustling urban neighborhood.  We're pleased to have a solid buyer for an excellent price and are thrilled to be able to offer this success to our investors in the project.