Overview

Highlights

• Desirably situated at the nexus of Queen Anne, Belltown, South Lake Union & Seattle’s Waterfront.
• Multiple value add strategies abound renovating the existing unit, and potentially converting common areas to additional units.
• Cosmopolitan living, Uptown arts, culture, sports and eats enjoyed from the doorstep.
• Future development potential capitalizing on MR zoning and Sound views

Description

The Lee & Associates NW Multifamily Team is pleased to present the exclusive listing of The Standard, a 20-unit building located in the Uptown Queen Anne neighborhood of Seattle.

Attractively situated near the Seattle Center and the Puget Sound waterfront, The Standard provides tenants the excellent access to work, school & play. The unit mix consist of 16 1-bed, two 2-bed units and two 3-bed units with mid-century floorplans averaging in size of 600 sf for the 1-bedrooms up to 900 sf for the 3-bedrooms.

The majority of the units have received updated cabinetry, counters, tiled backsplashes and appliances. The original wood flooring has been persevered in the units.

Positioned on a 12,020 sf MR (M) zoned lot, initial massing studies suggest 75+ unit development potential (buyer to verify).

The acquisition of the Standard not only secures a prime piece of Seattle real estate but also offers an investor significant potential for future development and appreciation.

With its strategic location, rental upside and multiple exit strategies, the Standard is an exceptional opportunity for investors seeking a blend of immediate rental income and long-term opportunities.

Location

One of Seattle’s “Seven Hills,” the Queen Anne neighborhood is known for its largely residential atmosphere, with stately historic mansions, Victorian homes and iconic craftsman houses creating a distinct architectural style. Uptown, running along the base of the south side of the hill, serves as the neighborhood adjacent to Seattle’s bourgeoning tech center, South Lake Union.​

Uptown Queen Anne is home to the City's cultural hub, The Seattle Center, just few blocks away from the subject and the gateway to a vast amount of Seattle entertainment including the Opera House, Pacific NW Ballet, MoPop and Climate Pledge Arena.

Located at western side of Uptown, the Standard provides tenants easy walkability and access to retail, restaurants, entertainment, and as well as the Seattle Center. Services within blocks of the property include QFC, Metropolitan Market, Safeway, CVS and Bartell Drugs. All within just a few minute walk. ​ For recreation, the building is within walking distance to Kinnear Park and Myrtle Edwards Beach.

The Standard is convenient to both the Amazon, Meta & Gates Foundation campuses of South Lake Union and Expedia campus to the north. The location also affords easy access to the Seattle CBD and Downtown.

A rare, high caliber location, the Standard is well situated to facilitate both the work and play of its tenants.

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