Originally constructed in 1967, City View Apartments is a twenty-eight unit apartment community located in the heart of South Seattle. Perched above the trees, City View offers residents spacious two and three bedroom homes, along with panoramic views of the valley. Since the pandemic began, larger apartments have been in high demand and with an average unit size of almost 1,040 square feet, it’s no wonder City View’s units are always in high demand. Larger units coupled with unparalleled access to main arteries and major employers make City View an ideal place to call home.

City View Apartments consist of twenty ±1,000-square foot two-bedroom/one-bathroom units, six ±1,100-square foot two-bedroom/one and a half-bathroom units, and two ±1,250-square foot three-bedroom/one and one-half-bathroom top floor units. Each unit features a spacious living and dining room, deck, oven/range, and refrigerator. Many units also have views of downtown Seattle. This offering presents an excellent opportunity to purchase a multifamily building with strong appeal, while being able to take advantage of significant rental upside. At a purchase price of $5,000,000, City View Apartments offers outstanding price per pound metrics at $178,571per unit and $172 per square foot. An incoming investor can easily justify spending the necessary dollars on renovating the units to achieve an excellent cash on cash return. Our proposed renovation package would include new carpet, Formica counters, new cabinet faces, updated lighting package, fresh paint, upgraded appliances, and a light bathroom refresh, in order to achieve a pro forma 7.3% cash on cash return.