he Equinox is a premier investment opportunity in Seattles highly desirable Fremont neighborhood. It features 23 apartments and 5 commercial units. A $2.1M capital improvement project in 2024/2025 added a new roof, siding, & an updated lobby. Units include high-end finishes, LVP flooring, SS appliances, and in-unit WD with views of Lake Union. Three large units were converted into 9 studios/SEDUs, with potential for 10 more units through add'l conversions. Five new units are master leased. Income from commercial tenants and a cell tower lease enhance revenue stability. Strong cash flow, diverse income from commercial tenants and a cell tower lease, and expansion potential make this a rare core asset in a high-demand, high-barrier market.
Property Features
Interior Features
- Laminate
- Laminate Hardwood
- Laminate Tile
- Flooring: Laminate, Laminate Hardwood, Laminate Tile
Heating and Cooling
- Heating Features: Baseboard, Wall
- Heating Fuel: Electric
- Heating: Yes
Exterior and Lot Features
- Cement Planked
- Metal/Vinyl
Garage and Parking
- Covered Spaces: 26
- Parking Total: 26
Land Info
- Lot Description: Adjacent to Public Land, Alley, Curbs, Paved Street, Sidewalk
- Lot Size Acres: 0.1740817
- Lot Size Square Feet: 7583
Home Features
- View: City, Lake, Mountain, Partial
- Green Energy Efficient: Thermal Windows
Amenities and Community Features
- Elevator
- Fire Sprinklers
- Thermal Windows
Rental Info
- Gross Scheduled Income: 142943
- Leasable Area: 17414
- Leasable Area Units: Square Feet
Multi-Unit Info
School Information
- High School District: Seattle
Homeowners Association
- Calculated Total Monthly Association Fees: 0
Other Property Info
- Deck
- High Speed Internet
- Patio
- Rooftop Deck
- Sprinkler System
- Annual Tax Amount: 79724
- Source Listing Status: Active
- Country Region: US
- County: King
- Cap Rate: 5.57
- Directions: Heading north on Fremont Ave. Left on N 35th. Located mid block.
- Tax Year: 2025
- Other Expense: 122623
- Source Property Type: Multi-Family
- Insurance Expense: 12031
- Area: 705 - Ballard/Greenlake
- List Development Name: Fremont
- Source Neighborhood: Fremont
- Parcel Number: 1972202755
- Street Suffix Modifier: Street
- Subdivision: Fremont
- Source System Name: C2C
Commercial Info
- Net Operating Income: 595506
- Operating Expense: 256847
Utilities
- Power Production Type: Electric
- Sewer: Sewer Connected
Building and Construction
- Building Area Total: 17414
- Building Area Units: Square Feet
- Building Exterior Type: Cement Planked, Metal/Vinyl
- Foundation Details: Poured Concrete
- Living Area Units: Square Feet
- Property Age: 24
- Roof: Flat
- Building Total Stories: 4
- Structure Type: Multi Family
- House Style: 10+ Units
- Elevation Units: Feet
- Year Built Effective: 2025
- Elevator: Yes
