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(253) 256-5270
My Q Homes with Wilcox Real Estate
219 Belmont Avenue E, Seattle, WA 98102
- $2,550,000
- 9,350
- SqFt
Listing Broker: Lee & Associates Commercial RE; Daniel Lim; ; Selling Office: Lee & Associates Commercial RE.
- Sold Price
- $2,550,000
- List Price
- $2,700,000
- Status
- SOLD
- MLS#
- 2416448
- Closing Date
- Dec 22, 2025
- Days on Market
- 188
- Style
- 56 - 10+ Units
- Building Condition
- Average
- Finished SqFt
- 9,350
- Area Total SqFt
- 9350
- Annual Tax Ammount
- 30995
- Lot Size (sq ft)
- 4,800
- Sewer
- Sewer Connected
Property Description
The Lanning, an 11-unit apartment in the heart of Capitol Hill. This well-maintained brick veneer building, built in 1910, offers spacious layouts 827 SF on avg, a rare find in a neighborhood known for compact apartments. The unit mix consists of 10 one-bedroom units and 1 two-bedroom unit, well-preserved hardwood floors, and in-unit w/d in 10 of the units. Steps from Broadway’s vibrant retail corridor, the Light Rail Station & SLU. Currently operating with below market rents, The Lanning presents a clear value-add opportunity. Whether repositioning as a bespoke high-end rental or realizing efficiencies as stabilized asset, The Lanning represents an unparalleled opportunity to own in one of Seattle’s most resilient and dynamic submarkets.
Additional Information
- List Date
- 2025-06-17 00:00:00
- Community
- Capitol Hill
- Net Operating Income
- $203,718
- Gross Adjusted Income
- $294,899
- Gross Scheduled Income
- $309,119
- Total Monthly Income
- $20,485
- Insurance Expenses
- $8,375
- Water/Sewer/Garbage Expenses
- $18,916
- Gross Rent Multiplier
- 10
- Total Expenses
- $91,181
- Cap Rate
- 6.38
- Vacancy Rate
- 14220
- Total Number of Units
- 11
- Unit Name
- 219
- Potential Terms
- Cash Out, Conventional
- Year Built
- 1910
- Waterfront
- Yes
- Roof
- Flat
- Site Features
- Fenced-Partially
- Other Expenses
- 32895
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $20,485
- Gross Scheduled Income
- $309,119
- Vacancy Rate
- 14220
- Gross Adjusted Income
- $294,899
- Tax Year
- 2025
- Insurance Expense
- $8,375
- W/S/G Expenses
- $18,916
- Total Expenses
- $91,181
- Net Operating Income
- $203,718
- Gross Rent Multiplier
- 10
- Cap Rate
- 6.38
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.