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306 Blanchard StSeattle, WA 98121
The Cornelius
Asset ClassMultifamily
Rare, 137-Unit, Value-Add Apartment Building with Updated Systems in the Heart of Seattle
overview of deal

Overview

The Cornelius Apartments present a rare opportunity to acquire a 137-unit, value-add multifamily asset in the heart of Seattle’s Belltown neighborhood. Built in 1925, the nine-story building offers classic architectural charm with upgraded systems, presenting immediate operational upside for investors. Positioned within walking distance to the downtown core, South Lake Union, and the waterfront, the property benefits from Seattle’s dynamic rental market and ongoing economic revitalization efforts.

 

With immediate operational efficiencies, rental growth upside, and strong market fundamentals, investors can capitalize on Seattle’s ongoing economic resurgence and demand for well-located rental housing.

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Investment Highlights

# Units
137
Rentable SF
62,380
Year Built
1925
# Stories
9

Investment Highlights

  • Day 1 management upside. Currently operating at a 69% expense load.
  • Increase NOI by $400,000+ with new management
  • Timeless historic charm with upgraded systems.
  • Excellent proximity to Waterfront, Downtown, & South Lake Union

Residential Unit Mix

No. of Units
Studio
118
1x1
17
1x1 Penthouse
1
2x1
1
Total Units
137
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306 Blanchard StSeattle, WA 98121

Simon | Anderson Multifamily Team

Dylan SimonExecutive Vice President(206) 414-8575dylan.simon@kidder.com
Jerrid AndersonExecutive Vice President(206) 499-8191jerrid.anderson@kidder.com
Matt LairdFirst Vice President(425) 736-5516matt.laird@kidder.com
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Listing provided by Revere CRE