Arbutus Apartments
10707 Des Moines Memorial Dr S, Seattle, WA
Property Type Multi-family
Sales Price $2,950,000
Status Pending
Property Highlights:
- Convenient Seattle location less than 9 miles south (17 minutes) of Downtown Seattle
- 12-unit apartment community with all huge 2bd/1.5bth units (1,351 sq.ft.)
- Originally designed as condominiums and feature higher-grade construction elements
- Huge condo-style floorplans: large rooms, open layout, wet bar, extra storage and more
- Parking: 25+ total spaces including 15 large private garages
- Significant immediate upside in rental income (6%+ Market Cap Rate)
- Value-add opportunity: upgrade unit finishes and get further rental upside
- Future condominium conversion opportunity
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