Overview

Highlights

• Central North Queen Anne location
• Conveniently situated by Seattle Pacific University, Fremont Tech Employment & Old Town Ballard
• All spacious 2- and 3-bedroom units with updated paint and carpets
• Excellent investment with rental income upside and value-add potential

Description

Lee & Associates is pleased to present the exclusive listing of a well-maintained fourplex on Queen Anne’s north slope. Built in 1923, the building consists of four spacious units, two 2 bedrooms with 1 bath of approximately 1,000 square feet and two 3 bedrooms with 1 bath of approximately 1,270 SQFT.

The three of the four units have been recently upgraded with stainless appliances, a mix of hardwood and LVT flooring, fresh paint, replaced carpet in the bedrooms, and upgraded lighting. The units have kept their vintage charm with attractive trim and fireplace surrounds. Two of the four units have had upgraded plumbing, replaced during turnovers. Four gas furnaces were replaced in 2019. Common amenities include common laundry area, ample storage areas and street parking for tenants. Recent exterior upgrades include replacing the front deck and porch, retaining wall and drainage system. The roof was replaced in 1995 and have been well-maintained since.

This property has an excellent walk score of 83, and is 2-5 minutes walking distance to the nearest coffee shops and restaurants. Minutes from Fremont’s tech hub, Seattle Pacific University and Ballard’s charming Old Town District, investors will find that this asset appeals to an excellent tenant base including savvy professionals looking for a quieter neighborhood setting to live in. 115 Florentia St is a rare opportunity to own a stabilized asset with gracious square footage, and additional value-add upside in Seattle’s coveted Queen Anne Neighborhood.

Location

This fourplex is situated on the north slope of the Queen Anne, just a couple of blocks from Seattle Pacific University campus. Residents have excellent access to downtown Seattle, South Lake Union and Expedia’s 40-acre campus, all of which can be easily reached by car or public transportation.

Nearby Fremont is home to both Google and Adobe's Seattle campuses as-well as Tableau's global headquarters.  Nearby employment is diversified, not just tech, with other major employers in the maritime, fishing, and other industrial employment in the immediate area. In addition, the quirky neighborhood of Fremont, known as the “Center of the Universe” is a quick walk away and offers a great selection of restaurants, coffee shops, breweries and vibrant nightlife options, all just minutes from the property.

Residents can cross the Ballard Bridge to the charming Old Town Ballard with a thriving food, music, farmer’s market and nightlife scene. The property’s location is well positioned to accommodate a wide variety of residents from students to tech professionals. 

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