416 Summit Ave E Seattle, WA 98102
Capitol Hill NeighborhoodEstimated payment $19,894/month
Highlights
- City View
- Wood Flooring
- 3-minute walk to Thomas Street Mini Park
- Garfield High School Rated A
- No HOA
About This Home
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.
Source: Northwest Multiple Listing Service (NWMLS)
MLS#: 2482505
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $30,098
Year Built
- Built in 1928
Property Views
- City
- Limited
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Poured Concrete
Interior Spaces
- 9,176 Sq Ft Home
- 3-Story Property
- Wood Flooring
Bedrooms and Bathrooms
- 13 Bedrooms
- 11 Bathrooms
Schools
- Lowell Elementary School
- Meany Mid Middle School
- Garfield High School
Additional Features
- 7,200 Sq Ft Lot
- Radiant Heating System
Community Details
- No Home Owners Association
- Capitol Hill Subdivision
Listing and Financial Details
- Assessor Parcel Number 6848200460
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $30,098 | $3,128,000 | $2,880,000 | $248,000 |
| 2023 | $36,307 | $3,875,000 | $2,880,000 | $995,000 |
| 2022 | $34,396 | $3,870,000 | $2,664,000 | $1,206,000 |
| 2021 | $36,150 | $3,772,000 | $2,664,000 | $1,108,000 |
| 2020 | $33,502 | $3,773,000 | $2,880,000 | $893,000 |
| 2018 | $28,190 | $3,406,000 | $2,484,000 | $922,000 |
| 2017 | $26,294 | $2,862,000 | $1,764,000 | $1,098,000 |
| 2016 | $21,261 | $2,762,000 | $900,000 | $1,862,000 |
| 2015 | $17,672 | $2,169,000 | $900,000 | $1,269,000 |
| 2014 | -- | $1,838,000 | $900,000 | $938,000 |
| 2013 | -- | $1,672,000 | $900,000 | $772,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/19/2026 02/19/26 | For Sale | $3,375,000 | +25.0% | $368 / Sq Ft | |
| 09/30/2015 09/30/15 | Sold | $2,700,000 | -15.6% | $354 / Sq Ft | View Prior Sale |
| 07/31/2015 07/31/15 | Pending | -- | -- | -- | |
| 07/10/2015 07/10/15 | For Sale | $3,200,000 | -- | $420 / Sq Ft |
Source: Northwest Multiple Listing Service (NWMLS)
MLS Number: 2482505
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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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2026 NWMLS.
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