This listing courtesy of Dan Swanson , Kidder Mathews

$3,375,000

416 Summit Avenue E, Seattle, WA 98102

Multi-Family Home
Built in 1928
7,200sqft lot
—— car garage
$——/sqft
Listed 1 month ago

Property Description

A profitable, character-rich multifamily asset in highly desirable Capitol Hill neighborhood. Built in 1928, this well-maintained wood-frame property features 11 corner units (9 1-beds and 2 2-beds) each offering abundant natural light and spacious floor plans with dining areas and mulitple large closets. Property features old-world charm and all units are fully remodeled or new. Updated Square D panels and main service also appears to have been updated. Bathroom plumbing updates have been made on turnover. Select units feature walk-in closets, dining areas, and/or updated countertops. West facing top-floor units offer views of Downtown Seattle/Space Needle. Stable cash flow, historically low vacancy rates, and 6 parking spaces. With a walk score of 96, residents are near transit, restaurants, groceries, parks, and major employers. The property offers compelling value-add upside with multiple strategies: add a 12th unit in the existing building, retain the existing structure and add new units in the current parking area, or pursue a full redevelopment of the MR-zoned parcel, which can accommodate an estimated ±50-unit building (buyer to verify). Irreplaceable 1920s craftsmanship, dependable performance, and meaningful future potential, the Oriana Apartments stands as an exceptional opportunity in one of Seattle’s most dynamic and amenity-rich urban neighborhoods.

Listing Status:: Active
Data Last Updated:: April 2, 2026 at 7:21AM
Listing Office:: Kidder Mathews : 360-705-2800
Listing Agent:: Dan Swanson : 360-705-2800
MLS ID:: 2482505

Flooring: Hardwood
A/C: None
Heating: Radiant
Fireplace: Fireplaces: 0

General: Brick
Parking: Parking spaces: 6

Roofing: Flat
General: 56 - 10+ UnitsPoured Concrete

HOA Amenities: 0.0
Originating MLS: nwmls
School District: Seattle
County: King

Zoning: 6848200460
View: CityPartialView

Water: Public
Sewer: Sewer Connected

Source: nwmls

This listing courtesy of Dan Swanson , Kidder Mathews

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Lowell Elementary School

1058 E Mercer St, Seattle, WA, 98102

Grades PK-5

0.35 miles away

Meany Middle School

301 21st Ave E, Seattle, WA, 98112

Grades 6-8

0.91 miles away

Garfield High School

400 23rd Ave, Seattle, WA, 98122

Grades 9-12

1.62 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.