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212-216 Alaskan Way S
Seattle, WA 98104
The OK Hotel Apartments · Multifamily Property For Sale
·
68 Units
Investment Highlights
- Excellent opportunity to purchase a rare historic Pioneer Square property along the newly revitalized Seattle waterfront
- Operational upside through loss-to-lease reduction of $108,112
- Property is offered free and clear of current financing. Multiple years of interest-only financing is available
- 2023 maximum allowable rents increased 8.84% in the Seattle-Bellevue, WA HUD Metro FMR Area
- Attractive price per unit of $87,500, well below replacement cost and recent sales
- Final year of LIHTC Restrictions is 2044
Property Facts
| No. Units | 68 | Lot Size | 0.19 AC |
| Property Type | Multifamily | Building Size | 42,534 SF |
| Property Subtype | Apartment | Average Occupancy | 97% |
| Apartment Style | Mid-Rise | No. Stories | 5 |
| Building Class | C | Year Built/Renovated | 1914/2004 |
| Zoning | PSM-100, Seattle | ||
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 42,534 SF |
| Average Occupancy | 97% |
| No. Stories | 5 |
| Year Built/Renovated | 1914/2004 |
| Zoning | PSM-100, Seattle |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Granite Countertops
- Refrigerator
- Range
- Tub/Shower
- Wi-Fi
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- On-Site Retail
- Trash Pickup - Door to Door
- Online Services
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 48 | - | 254 - 485 |
| 1+1 | 20 | - | 447 - 464 |
Property Taxes
| Parcel Number | 524780-0090 | Improvements Assessment | $1,000 |
| Land Assessment | $4,348,100 | Total Assessment | $4,349,100 |
Property Taxes
Parcel Number
524780-0090
Land Assessment
$4,348,100
Improvements Assessment
$1,000
Total Assessment
$4,349,100
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