565 -569 Lee Street, Seattle, WA 98109
- $2,995,000
Listing courtesy of Lee & Associates Commercial RE.
- List Price
- $2,995,000
- Status
- ACTIVE
- MLS#
- 2554111
- Days on Market
- 12
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Annual Tax Ammount
- 31621
- Lot Size (sq ft)
- 7,217
- Sewer
- Sewer Connected
Property Description
We are 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, 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.
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Additional Information
- List Date
- 2026-07-15 02:58:12
- Community
- Queen Anne
- Net Operating Income
- $123,951
- Gross Adjusted Income
- $207,925
- Gross Scheduled Income
- $218,868
- Total Monthly Income
- $17,813
- Insurance Expenses
- $12,896
- Water/Sewer/Garbage Expenses
- $13,005
- Gross Rent Multiplier
- 13.7
- Total Expenses
- $89,809
- Cap Rate
- 4.14
- Vacancy Rate
- 5
- Total Number of Units
- 11
- Unit Name
- 565 -569
- Potential Terms
- Cash, Conventional
- Year Built
- 1963
- View
- City, Sound, Territorial
- Roof
- Flat
- Site Features
- Deck, Fenced-Partially
- Other Expenses
- 32287
- Energy Source
- Electric
- School District
- Seattle
- Total Monthly Income
- $17,813
- Gross Scheduled Income
- $218,868
- Vacancy Rate
- 5
- Gross Adjusted Income
- $207,925
- Tax Year
- 2026
- Insurance Expense
- $12,896
- W/S/G Expenses
- $13,005
- Total Expenses
- $89,809
- Net Operating Income
- $123,951
- Gross Rent Multiplier
- 13.7
- Cap Rate
- 4.14
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.