Bought with Westlake Associates, Inc.
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603 3rd AVE W Seattle, WA 98119
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Key Details
Sold Price $5,150,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,510 sqft
Price per Sqft $411
Subdivision Queen Anne
MLS Listing ID 2348870
Sold Date 05/20/25
Style 56 - 10+ Units
Bedrooms 12
Year Built 1929
Annual Tax Amount $50,397
Lot Size 10,300 Sqft
Property Sub-Type Multi Family
Property Description
The Regan Lee's 24 spacious studio and one-bedroom units showcase original hardwood floors, mahogany doors, rich wood trim, arched entryways, and abundant natural light, preserving the elegance of a bygone era. The property also features eight garage stalls along the alley, providing both parking convenience and additional income. With current rents well below market, The Regan Lee offers a compelling opportunity to increase NOI through strategic renovations and rent optimization. Additionally, investors may explore redevelopment potential of the existing garage space to add units and further maximize value (buyer to verify).
Location
State WA
County King
Area 700 - Queen Anne/Magnolia
Interior
Interior Features Ceramic Tile
Flooring Ceramic Tile, Hardwood
Fireplace false
Exterior
Exterior Feature Brick, Wood
Amenities Available Fenced-Partially
View Y/N Yes
View City
Roof Type Flat
Building
Lot Description Corner Lot, Curbs, Paved, Sidewalk
Sewer Sewer Connected
New Construction No
Schools
School District Seattle
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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