MLS #2487185 / Listing provided by NWMLS & Kidder Mathews.
$3,199,500
403 E Thomas Street
Unit 1-9
Seattle,
WA
98102
Sq Ft
Per Sq Ft
Year Built
A rare opportunity to acquire a well-maintained 9-unit property in one of Seattle’s most desirable rental markets. Built in 1966, this classic midcentury asset combines strong in-place income with meaningful upside potential in a premier Capitol Hill location. With a Walker’s Paradise score of 95, it offers easy access to Downtown & SLU as well as to an abundance of neighborhood restaurants & retail. Within a 10-min walk there are 7 bus lines and a light rail station. The building features a highly rentable unit mix consisting of 4 two-beds, 4 one-beds, and 1 studio. There is a ±1,200-SF top-floor penthouse unit – ideal for an owner-occupant – offering two bedrooms plus a den, one-and-a-half bathrooms, and sweeping Downtown and Space Needle views. Edgene Apartments has been thought fully maintained and upgraded, including updated dual-pane windows, in-unit laundry and dishwashers in all units other than the studio, and elevator service. The property also offers an uncommon 11 parking spaces – 9 off-street and 2 garage – providing a valuable amenity in this dense urban neighborhood. New ownership may realize approximately ±20% income growth by raising rents to market, implementing RUBS, and monetizing parking. Condo documents are already in place comprising 12 parcels (1 for the land, 2 for parking, and 9 individual unit parcels), creating flexibility for future sell-off strategies and providing investors with both income growth potential and long-term disposition optionality.
Disclaimer: The information contained in this listing has not been verified by Hawkins-Poe Real Estate Services and should be verified by the buyer.
Bedrooms
- Upper Level Bedrooms: 0
Fireplaces
- Total Fireplaces: 0
Heating & Cooling
- Heating: Yes
- Cooling: Yes
Parking
- Garage Spaces: 2
- Total Uncovered Parking Spaces: 4
Structure
- Roof: Flat
- Exterior Features: Brick, Stucco
Lot Details
- Lot Features: Corner Lot, Curbs, Paved, Sidewalk
- Acres: 0.0974
Schools
- High School District: Seattle
- High School: Garfield High
- Middle School: Meany Mid
- Elementary School: Lowell
Lot Details
- Lot Features: Corner Lot, Curbs, Paved, Sidewalk
- Acres: 0.0974
Power
- Energy Source: Electric
Water, Sewer, and Garbage
- Sewer: Sewer Connected
- Water Source: Public
- Water, Sewer, and Garbage: 19007
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