34 W Cremona Street, Seattle, WA 98119
- $2,800,000
Listing courtesy of Lee & Associates Commercial RE.
- List Price
- $2,800,000
- Status
- ACTIVE
- MLS#
- 2550353
- Days on Market
- 19
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Annual Tax Ammount
- 24414
- Lot Size (sq ft)
- 9,600
- Sewer
- Sewer Connected
Property Description
We are pleased to present the Cremona Apartments, an 11unit apartment community built in 1961, offered to the market fully vacant at closing. This rare delivery provides investors and owner-occupants alike the immediate ability to lease all units at current market rents, pursue targeted renovations, or both with no displacement concerns and no inherited lease obligations. The building offers a well-rounded unit mix of one studio, six one-bedrooms, one one-bedroom plus den, and three two-bedrooms, set on a quiet residential street with six surface parking spaces. The common area, which houses individual storage units and a shared laundry hookup, is generously proportioned and may present an opportunity to incorporate into the adjacent studio unit as additional net rentable space, buyer to verify. Centrally positioned between Ballard, Fremont, South Lake Union, and Downtown Seattle, residents enjoy convenient access to the city’s most active employment corridor, with Meta, Apple, Anthropic, Google, Amazon, and Expedia all within easy reach. The Cremona Apartments represent an immediate executable opportunity in one of Seattle’s most desirable and supply-constrained neighborhoods. Delivered vacant, priced for today’s market, and positioned within minutes of Seattle’s strongest employment and lifestyle anchors, this is a rare chance for a new owner to set rents, define the tenant profile, and reposition the asset from day one with zero friction.
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Additional Information
- List Date
- 2026-07-07 20:46:14
- Community
- Queen Anne
- Net Operating Income
- $158,315
- Gross Adjusted Income
- $209,133
- Gross Scheduled Income
- $220,140
- Total Monthly Income
- $18,972
- Insurance Expenses
- $8,800
- Water/Sewer/Garbage Expenses
- $11,000
- Gross Rent Multiplier
- 12.7
- Total Expenses
- $69,348
- Cap Rate
- 5.65
- Vacancy Rate
- 5
- Total Number of Units
- 11
- Unit Name
- 34
- Potential Terms
- Cash, Conventional
- Year Built
- 1961
- View
- Territorial
- Roof
- Flat
- Other Expenses
- 25134
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $18,972
- Gross Scheduled Income
- $220,140
- Vacancy Rate
- 5
- Gross Adjusted Income
- $209,133
- Tax Year
- 2026
- Insurance Expense
- $8,800
- W/S/G Expenses
- $11,000
- Total Expenses
- $69,348
- Net Operating Income
- $158,315
- Gross Rent Multiplier
- 12.7
- Cap Rate
- 5.65
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.