231 Summit Avenue E, Seattle, WA 98102
- $2,000,000
- 5,448
- SqFt
Listing Broker: 206 Property Advisors; James Eeckhoudt Jr.; ; Selling Office: Berkshire Hathaway HS NW.
- Sold Price
- $2,000,000
- List Price
- $2,195,000
- Status
- SOLD
- MLS#
- 2420922
- Closing Date
- Mar 13, 2026
- Days on Market
- 13
- Style
- 53 - Tri-plex
- Finished SqFt
- 5,448
- Area Total SqFt
- 5448
- Annual Tax Ammount
- 17419
- Lot Size (sq ft)
- 4,271
- Sewer
- Sewer Connected
Property Description
Exceptional opportunity to own a historic retail flex space below two gorgeous rental units adjacent to South Lake Union on Capitol Hill's western slope.The versatile commercial space has a well-designed layout with private offices, conference room, two bathrooms, large private back patio, a basement kitchen, and 1920's original features such as terrazo flooring and a working walk-in bank vault. The 2nd floor features two huge 1-bedroom apartments with modern convienceces and charming period details. With walk-in closets, lots of light, tall cielings, and built-ins, units are rarely vacant and fetch top market rents for this thriving urban area. ADU pontential in the back. Property could qualify for SBA loan to an occupied business.
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Additional Information
- List Date
- 2026-02-28 00:00:00
- Community
- Capitol Hill
- Net Operating Income
- $97,203
- Gross Adjusted Income
- $131,351
- Gross Scheduled Income
- $136,824
- Total Monthly Income
- $11,402
- Insurance Expenses
- $4,507
- Water/Sewer/Garbage Expenses
- $4,194
- Gross Rent Multiplier
- 16
- Total Expenses
- $27,973
- Cap Rate
- 4.43
- Vacancy Rate
- 4
- Total Number of Units
- 3
- Unit Name
- 231
- Potential Terms
- Conventional
- Year Built
- 1925
- View
- City
- Roof
- Flat
- Other Expenses
- 1853
- Energy Source
- Electric, Natural Gas
- School District
- Seattle
- Elementary School
- Lowell
- Middle School
- Meany Mid
- High School
- Garfield High
- Total Monthly Income
- $11,402
- Gross Scheduled Income
- $136,824
- Vacancy Rate
- 4
- Gross Adjusted Income
- $131,351
- Tax Year
- 2025
- Insurance Expense
- $4,507
- W/S/G Expenses
- $4,194
- Total Expenses
- $27,973
- Net Operating Income
- $97,203
- Gross Rent Multiplier
- 16
- Cap Rate
- 4.43
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.