Overview

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Highlights

• Across the street from Met Market, 4 blocks from Discovery Park
• Updated units feature stainless steel appliances, undermount sinks, hard surface counters and LVT flooring
• In Unit washer and dryer on all the units
• Desirable 2 bedroom units averaging 782 SF, and sizable 1 bedroom units averaging 688 SF

Description

The Lee & Associates Northwest | Multifamily Team is pleased to present the Fountain Court Apartments. Positioned just blocks from Magnolia’s Discovery Park, on two NC1-40 (M) zoned, 6,000 sf parcels, this 18-unit complex consists of two 1967 constructed buildings. The buildings are centered around a common courtyard and namesake fountain. The unit mix comprises of nine 1-bedroom and nine 2-bedroom units with an average unit size of 735 sf. Units feature individual washers and dryers, stainless steel appliances, undermount sinks, hard surface counters and LVT flooring, and several units have fireplaces.

With nearly all units renovated, investors may realize additional upside to be had in rents in this opportunity to acquire 18 units in one Seattle’s most prestigious residential neighborhoods.

Location

Seattle’s Magnolia neighborhood, situated on a peninsula with expansive views of both the Puget Sound, Downtown and Queen Anne, is predominately a residential neighborhood. While quiet and secluded in demeanor, Magnolia offers residents excellent access to amenities, and employers including Expedia’s Interbay campus, Ballard’s charming Old Town District, South Lake Union’s tech and biomed hubs and Downtown Seattle. Within the neighborhood, residents can find a fine selection of restaurants, bars and bakeries within Magnolia Village, Fisherman’s Terminal and along Thorndyke Ave. Grocery options appealing to tenants abound, including Whole Foods, Total Wine, QFC and Metropolitan Market Home to the city’s largest park, Discovery Park, the neighborhood also offers residents great recreational opportunities.

The Fountain Court Apartments are attractively located within Magnolia. With the Metropolitan Market located across the street from the property and Discovery Park located just four blocks away, tenants enjoy a high quality of life and convenience.

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