8801 Aurora Ave N
- Below-Replacement Basis: At 7,275 SF on a 13,770 SF site, the property offers immediate cash flow with long-term redevelopment potential — an increasingly scarce combination in Seattle.
- High-Barrier Market: Seattle's permitting costs, regulatory complexity, and limited land supply make it difficult to assemble a comparable position at this price point. The Georgian provides a direct path to ownership in a proven rental sub-market.
- Value-Add Upside: Current rents are below market with clear rent increase potential across the unit mix, and additional income through RUBS, parking, and laundry has room for optimization.
Property Description
The Georgian presents a unique opportunity to acquire 23 units on the Aurora Avenue corridor in Seattle. With a mix of micro-units, studios, and one-bedrooms across three buildings, this is a fully stabilized asset in one of the region's most supply-constrained markets — with NC3P-65 zoning that supports up to 65 feet of development height, offering significant future density upside. The Aurora corridor continues to benefit from strong rental demand, proximity to major employment centers, and improving infrastructure — making The Georgian a compelling investment for both current yield and future upside.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 23 |
| Year Built: | 1953 |
| Lot Size: | 0.32 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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