7 W Dravus

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7 W Dravus St, Seattle , WA 98119
7 W Dravus
CPX is pleased to present 7 W Dravus St, an investment offering with strong in-place income and further upside through a variety of value-add and exit strategies. The five-unit asset has a unique unit mix and is located in the sought-after North Queen Anne submarket. The offering consists of two structures built in 1924 and 1999: a single-family house and a fourplex. There is potential for a buyer to renovate each unit, increase rents, and add additional income streams (paid parking, pet rent, etc.). In addition to conventional value-add strategies, there is an opportunity to subdivide the property and separate the two assets (Buyer to verify). This allows a potential buyer to renovate and then sell the single-family home, thus reducing their basis and increasing returns. The fourplex is made up of spacious units with dual two-bed / two-bath units and dual three-bed / two-bath, townhome-style units. The 2,074 SF single-family home has three bedrooms and one bathroom and is located directly on W Dravus Street with the fourplex offering alley access behind it. There are four surface parking spaces at the back of the property. These can be accessed via the alleyway off Queen Anne Avenue N. There is adequate street parking in addition to the surface spaces. The property is in an excellent location just off Nickerson St and next to Seattle Pacific University. PCC in Fremont is a 10-minute walk away, with Climate Pledge Arena and Seattle Center being a 10-minute drive. Queen Anne has several public playing fields scattered throughout the neighborhood and a core retail strip less than a mile from 7 W Dravus Street. The property’s location is ideal for students, singles, and families alike. 7 W Dravus St provides a new owner an established income stream with excellent value-add potential in a top Seattle location.