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315 Summit Ave E, Seattle, WA 98102

$3,359,023
Last sold 06/10/2022 for $3.14M
—
bed
—
bath
8,540
Sqft ($369/Sqft)

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About 315 Summit Ave E

Property type House

Neighborhood

Year built 1930

HOA fee $0/month

Lot size 7,200 Sqft

Movoto estimate

Property description

Built in 1930, Summit Crest offers classic brick construction including old-world charm, gleaming hardwood floors and 8 garage spaces. The unit mix of 5 studio units and 9 one-bedroom units meets the desired unit type for the for the typical Capitol Hill population. In recent years six units have been renovated, achieving market rents. Summit Crest offers an investor the likely potential for income upside by increasing rents to market levels or renovating the remaining units to today’s standards for even higher returns. This investment is a great opportunity for a prospective buyer to own a classic brick building in an A+ location.

Listed by

Listing Agent - Cathy Jeney

Listing Office - Paragon Real Estate Advisors

Source: NWMLS

MLS#1938451 • last updated 1 year ago

Movoto checked NWMLS for data 14 minutes ago

Overview
Levels/Style	Multi Family
MLS #	1938451
SubType	Multi-Family
Type	Residential Income
SqFt	8540
Status	Sold
Lot Size (SqFt)	7200
Lot Size (Acres)	0.1653
Property Tax	35464
Buying Office	Paragon Real Estate Advisors
Year Built	1930
Buying Office Phone	206-623-8880

Interior

Exterior
Foundation	Poured Concrete
Roof	Flat
# Carport Spaces	8
# Parking Spaces	8
Exterior Features	Brick

Amenities / Utilities
Sewer/ Septic	Sewer Connected
Power Production: Type	Electric
HOA Amenities	Coin Op Laundry

Location
County	King
Subdivision	Capitol Hill
Area	390 - Central Seattle
High School District	Seattle
APN	6848200165
Directions	From I5 Take The Exit For Boylston Ave E. Merge Onto Boylston Ave E. Slight Left On Lakeview Blvd E. Left On Belmont Ave E. Right On Summit. Property Is On The Right.
Zoning	Multi-Family

Multifamily Details
Net Operating Income	121884
Capitalization Rate	3.93
Expense: Insurance	5774
Gross Scheduled Income	233400
Expense: Other	33590
Gross Adjusted Income	221730
Total Expenses	99846
Gross Rent Multiplier	13
Nwm_Totalmonthlyincome	19450
Vacancy Rate	5

$3.35M

Range: $3.02M-$3.69M

Last 30 days

Rental est.: $719/month

• Gross rent multiplier: 364.9

Lower your payment with the loan terms that fit you.

Jun 2022
Public Records
Jun 13, 2022 Sold
$3,147,000
Jun 2022
MLS # 1938451
Jun 10, 2022 Sold
$3,147,000 (+1.5%)
May 27, 2022 Pending
—
May 23, 2022 Listed
$3,100,000

315 Summit Ave E
$3.14M
Broadway
$525K -51% y/y
98102
$799K -22% y/y
Seattle
$685K -14% y/y

No chart available

Statistics calculated by Movoto

	Est. value	Bed/bath	Sqft	mi
416 E Harrison St, Seattle, WA 98102	$1,289,000	2/1	1,830	0.06
408 E Harrison St, Seattle, WA 98102	$1,285,000	3/2	1,950	0.06
312 Belmont Ave E, Seattle, WA 98102	$1,064,000	3/1	1,750	0.08
316 Belmont Ave E, Seattle, WA 98102	$1,059,000	3/1	1,690	0.08
602 E Harrison St, Seattle, WA 98102	$1,357,000	3/1	2,210	0.1
311 Boylston Ave E, Seattle, WA 98102	$1,372,000	3/1	2,180	0.1
307 Boylston Ave E, Seattle, WA 98102	$870,000	3/1	1,210	0.1
309 Boylston Ave E, Seattle, WA 98102	$1,012,000	3/1	1,390	0.1

Estimated values are based on public record data and automated valuation models. Values are not guaranteed and may not reflect current market conditions.