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Valley View Apartments
3011 14th Ave W Seattle, WA 98119
For More Information
Please Contact
Robert Wright
o: 206-224-1213
c: 206-619-3274
Michael Walsh
o: 206-774-5429
c: 310-383-1570
2621 Eastlake Ave E
Seattle, WA 98102
www.tfgre.com
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4 Investment Overview
5
Property Facts
7 Income/Expenses
8 Sales Comparables
9 Photo Gallery
12 Area Overview
Investment Overview
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Valley View
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Property Highlights
6 Units
Well maintained property with upgraded interiors
All units rehabbed, four with new cabinets & quartz countertops
Off Street Parking
Large outdoor common areas
Sweeping views of Interbay and the Olympic Mountains
The Wright/Walsh team is pleased to bring to you this opportuni-
ty to acquire a six unit property on the west slope of Queen Anne
Hill in close proximity the Expedia campus, an employment venue
expected to bring more than 3,500 new tenants to this section of
the city.
The Queen Anne neighborhood is one of the most vibrant in the
city. Just a few minutes from the central business district, the Val-
ley View Apartments are located in a premium section of Seattle
near many of the city’s favorite amenities and destinations, in-
cluding the newly renovated Climate Change Arena, future home
of the Seattle Kraken NHL hockey team. Major transit lines on
15th connect Queen Anne to downtown and to the major thor-
oughfares of Aurora Avenue and Interstate 5. Valley View is also
easily accessible via public transit to close-by Seattle Pacific Uni-
versity and the University of Washington.
Sound Transit’s expansion of its Link Light Rail system will soon be
linking all the major Puget Sound cities, including Everett, Belle-
vue, Mercer Island, and Tacoma, with a station less than a half
mile to the north at the Dravus Street Overpass.
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Property Name Valley View
Address 3011 14th Ave W
Price $1,595,000
Year Built 1960
Square Feet 3,600 Gross / 3,600 Net
Total Units 6
Gross Scheduled Income $100,920
Net Operating Income $70,100
CAP / GRM 4.40% / 15.81
Expenses/Unit $4,296
Expenses as % of Gross 26%
Terms Cash Out
Lot Size 6,000 SF
Construction Wood Frame
Laundry Common
Heat Electric Wall
Parking 5 (off street)
Zoning LR1 (M)
Quick Facts
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Rent Roll & Expenses
Unit # Unit Type Rent SqFt Rent/SqFt
1 1bd/1ba $1,350 600 $2.25
2 1bd/1ba $1,450 600 $2.42
3 1bd/1ba $1,370 600 $2.28
4 1bd/1ba $1,435 600 $2.39
5 1bd/1ba $1,295 600 $2.16
6 1bd/1ba $1,435 600 $2.39
Gross Rent $8,335 3,600 $2.32
Laundry Income $60
Gross Scheduled (Annual)
$100,740
Vacancy (5%) $5,037
Gross Operating $95,703
Less Expenses $25,774 $7.16/Sqft
NOI $69,929
Expenses Current
Taxes $13,848
Insurance $2,364
Utilities $4,062
Maintenance & Repair $5,500
Total Expenses $25,774
Valley View 3D Tour *
*City records also list the property under the address 3015 14th W.
Property Address # Units Sale Date Year Built Sale Price Price/Unit Price/SF CAP / GRM
3811 13th Ave W 6 3/16/2020 1962 $1,800,000 $300,000 $472.94/SF 5.34% / 11.20
3622 13th Ave W 4 4/15/2020 1966 $1,525,000 $381,250 $425.98/SF 3.99% / 18.25
3402 15th Ave W 8 1/25/2019 2018 $3,200,000 $400,000 $442.11/SF 5.25% / 12.96
4 Florentia St 10 4/24/2020 1990 $3,870,000 $387,000 $466.49/SF 4.14% / 16.25
2801 14th Ave W 8 7/31/2019 1961 $2,425,000 $303,125 $386.64/SF 3.82% / 16.60
Valley View 6 TBD 1960 $1,595,000 $265,833 $443.06/SF
Sales Comparables
3811 13th Ave W
3622 13th Ave W
Interbay View
3402 15th Ave W
Bertona Steps
4 Florentia St
Florentia Court
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1 2 3 4 5
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2801 14th Ave W
The Deauville
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Photo Gallery
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Photo Gallery
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Photo Gallery
Area Overview
The Seattle metropolitan area is the 15th largest in the United States with an estimated 3.7 million
people. Sound Transit’s expansion of its Link Light Rail system will soon be linking all the major
Puget Sound cities, including Bellevue, Mercer Island, and Tacoma, with a station less than half a
mile to the west at the Dravus Street Bridge and other major transit lines connecting Queen Anne
to downtown via Elliot Avenue. Seattle has a thriving local economy and is home to eight fortune
500 companies including Costco, Microsoft, Amazon, Paccar, Starbucks, and Nordstrom. In 2016
both Zillow and Redfin ranked Seattle as the second hottest housing market in the nation. A
statistical analysis run by CareerBuilder found that in 2015 Seattle added 78,082 jobs.
Top Puget Sound Area Employers
12
For More Information
Please Contact
Robert Wright
o: 206-224-1213
c: 206-619-3274
Michael Walsh
o: 206-774-5429
c: 310-383-1570
2621 Eastlake Ave E
Seattle, WA 98102
www.tfgre.com
The information included in this document has been obtained from sources we be-
lieve to be reliable. While we do not doubt its accuracy, we have not verified it and
cannot make any guarantee, warranty or representation about it. It is your responsi-
bility to independently confirm its accuracy and completeness. Any projections, opin-
ions, assumptions, or estimates used are for example only and may not accurately
represent the current or future performance of the property. The value of any pro-
posed transaction to you depends on tax and other factors which should be evaluated
by your tax, financial and legal advisors. You and your advisors should conduct a care-
ful, independent investigation of the property to determine to your satisfaction the
suitability of the property for your needs.
