For Auction

Seattle Multifamily | 23 Units | Near University

5003 15th Ave NE,
Seattle, WA 98105Represented by
Lee & Associate

Asset Snapshot

Real Estate
Asset Type
Multifamily
Property Type
1926
Year Built
1
Building Count
0.19 Acres
Land Area
23 Units
Unit Count
670 SF
Average Unit Size
16,830 SF
Property Size

Offering Summary

**Tours are available, by appointment only, on October 16th and 23rd. Please contact listing broker to schedule.


Investment Highlights

  • Appealing walkability, retail, amenities and top ranked university at your doorstep.
  • Pride of Ownership building with timeless appeal.
  • Spacious Studio and 1-bedroom unit mix with an average unit size of 726 SF.
  • Opportunity to realize significant lift from current below-market rents and through additional renovations.


Offering Summary

The Lee & Associates Northwest | Multifamily Team, in conjunction with Real Insight Marketplace, are pleased to present the Davison, a 23-unit apartment building in the heart of the Seattle’s University District neighborhood and walking distance to the University of Washington. Designed by British architects, Stuart and Wheatly, the Davison was constructed in 1926 with an attractive period brick façade, detailed cornice and parapet work.
It is a well-maintained building featuring spacious units averaging over 725 sf per unit with a unit mix of 10 studios and 13 1-bedrooms (buyer to verify). Units feature elegant crown molding, oak hardwood floors and vintage penny tile. Most units feature newer kitchen cabinets and granite countertops as well as vanities. The building also features five secure garage spaces with access off the alley.
Sitting on an 8,220 sf LR3 zoned corner lot, the Davison is a handsome opportunity to realize significant rental upside in one of Seattle’s most sought-after and well supported rental markets

Due Diligence

Transaction Managers

Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com
Darlene Johnson
Marketplace
(800) 915-7015djohnson@realinsight.com

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Randy A. Wells
c/o Fisher Auction Co.
License: 24004903

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Did Not Trade

Interested in additional investment opportunities?

Investment Sales Brokers

Candice Chevaillier
Lee & Associate
WA License: 18886
(206) 604-3400cchevaillier@lee-associates.com
Daniel Lim
Lee & Associates
(206) 928-2311dlim@lee-associates.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.