The Lenawee — Sale in Seattle, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Seattle, WA 98122

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Investment Figures

Cap rate
6.35%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

78-unit apartment community located in Seattle’s vibrant Capitol Hill neighborhood. The Lenawee is available for acquisition as an individual asset or as part of a larger five-property Capitol Hill portfolio totaling 321 units, providing investors with a unique opportunity to achieve operational efficiencies and economies of scale within one of Seattle’s highly sought-after rental markets. Investment Highlights: • Well Maintained Asset with Pride of Ownership: Charming 1918 brick apartment community that has been meticulously maintained while preserving its historic character. • Unmatched Capitol Hill Location: Situated one block from the Pike / Pine Corridor and two blocks from Cal Anderson Park in the heart of Seattle's most vibrant neighborhood. • Near-Perfect Walk & Transit Scores: The property boasts a Walk Score of 99 and Transit Score of 93. • Stable Cash Flow with Value-Add Potential: Fully stabilized community with historically strong occupancy and low resident turnover. An incoming owner can execute a value-add investment strategy. • Potential Portfolio Sale: Available as an individual acquisition or as part of a larger Capitol Hill portfolio comprising five apartment communities totaling 321 units. The portfolio presents investors with a unique opportunity to achieve operational efficiencies and economies of scale within one of Seattle's most desirable urban submarkets.

Market Context

This multifamily in Seattle, WA is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Seattle, WA — view the full market.

As of Q1 2026, the Seattle / Bellevue multifamily market showed a 7.3% vacancy rate, and average asking rents near $2004.00/unit/mo. Source: multiple brokerage reports, Q1 2026.

Multifamily market FAQ

Is the Seattle / Bellevue multifamily market tightening or softening?
Vacancy is around 7.3% (Q1 2026).

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