Overview

Highlights

• 31 Units in Prime Queen Anne Uptown Neighborhood
• Updated electrical, plumbing and fire safety systems
• Next door to Starbucks Coffee, Seattle Center, Key Arena and near many other retail & entertainment amenities
• Located right on Queen Anne Avenue arterial with north- and south-bound bus lines
• Remodel commercial spaces into apartments

Description

SVN Whitecap is pleased to be the exclusive listing broker for 419 Queen Anne Avenue. The subject property is located on 7140 square feet of NC3-65 on the popular Queen Anne Avenue arterial. The building was constructed in 1912 as an apartment building.

The current unit mix is 20 apartment units ranging from 300-660 square feet depending on the orientation and 11 commercial spaces. Approximately 17 of the 20 current apartment units have been refurbished with oak cabinets and white appliances. Many of the units have large kitchens and the original roll-away bed cabinets. Some have territorial views including of the nearby Space Needle.

The eight commercial units on the main floor are currently rented to small businesses such as therapists and wellness practitioners. In the lower level, the commercial spaces currently include a yoga studio, a wood shop, and even an old recording studio which accounts for approximately 2,300 square feet.

Most of building’s systems have been upgraded over time, including updated and separately metered wiring and mostly updated plumbing. There is central leased hot water tank and electric heat. Regarding the common areas, there are graciously spaced hallways and stairwells and the upper floors have a charming little social area on the East and West ends of the building. There is a common laundry room in the lower level as well and the machines are currently serviced by Automatic Laundry Company. A new perimeter fence was recently installed at the rear and side of the building.

Buyer to verify, but essentially by installing kitchens and remodeling bathrooms, there is a possibility to remodel seven of the eight main floor commercial units to apartments. The eighth unit would need to stay as its current use as commercial or live work. The first, second and third floors would then account for 27 rentable apartments averaging between about 300-660 square feet depending on the orientation. Some could be slightly reconfigured to become one-bedroom units if so desired. It would be possible to retain several rentable commercial spaces or tenant amenities in the lower level. This is an AS-IS sale.

Location

This property is located in the heart of the Queen Anne Uptown neighborhood in Seattle, Washington. Within one or two blocks, you have Safeway, Metropolitan Market, CVS and Bartell Drugs. It is just steps from popular restaurants including Taylor Shellfish Oyster Bar to Dick’s Drive-in, Toulouse Petit and Pesos. For coffee, the property is located directly adjacent to a Starbucks Coffee with Uptown Espresso and Caffe Ladro are also just steps away. For culture, within one block is the Seattle Independent Film Festival (SIFF) theater, Key Arena as well the gateway to the vast Seattle Center entertainment. Transportation is simple, the building is located on an arterial with the north and southbound bus stops within steps of the building. For employment, the property is perfectly positioned between the employment centers downtown, in South Lake Union and even the new Expedia campus at the waterfront. In city that values urban renewal and proximity to retail and entertainment amenities, there is hardly a better location.

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