565-569 Lee St
- Prime Queen Anne Location: Proximity to Downtown Seattle, South Lake Union, Major Employers, Retail Amenities, and Recreational Attractions.
- Recent Capital Improvements: New Roof (2019), Retractable Awning (2019), New Decks (2020), and Exterior Residing and Repainting of the Rear Elevation (2015).
- Attractive Unit Mix: One-Bedroom and Larger Three-Bedroom Units Averaging 804 SF.
- Off-Street Parking & Resident Amenities: Eight Dedicated Parking Spaces (Six Open and Two Tandem) Along with On-Site Common Laundry Facilities
Property Description
The Lee & Associates NW Multifamily Team is pleased to present Marguerite Manor, an 11-unit apartment community located in Seattle’s highly desirable Queen Anne neighborhood. The property encompasses approximately 7,032 square feet of net rentable area and features a unit mix of ten spacious one-bedroom apartments and one expansive three-bedroom penthouse with sweeping views of the Seattle skyline and Lake Union. Current ownership has implemented several significant capital improvements in recent years. The building features a durable brick façade along the front elevation, while the rear exterior was extensively rebuilt, resided, and repainted in 2015. Additional exterior upgrades include the installation of a high tech roof in 2019, a retractable awning, and new decks in 2020. Residents benefit from on-site common laundry facilities and dedicated off-street parking consisting of six open stalls and two tandem spaces located at the rear of the property. Situated within Queen Anne, Marguerite Manor offers investors a combination of stable in-place income, strong renter demand, and long-term appreciation potential. The property’s location, recent capital improvements, and attractive unit configuration position it as a compelling multifamily investment opportunity in one of the Pacific Northwest’s most sought-after urban submarkets.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,995,000 |
| No. of Units: | 11 |
| Year Built: | 1963 |
| Lot Size: | 0.17 Acres |
| Opportunity Zone: | No |
| Price per unit: | $272,273 |
| Property Website | Click Here |
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