About this property

he Kenneth Apartments presents an exceptional investment opportunity in Seattle's desirable Lower Queen Anne neighborhood, just one block from Climate Pledge Arena and steps from Seattle Center, the Space Needle, dining, shopping, and entertainment. Built in 1925, this 24-unit property features classic brick and terra cotta architecture with a mix of 3 efficiency units, 9 studios, and 12 one-bedroom apartments. The property offers approximately 13,545 rentable square feet, seven surface parking stalls, and on-site laundry. Capital improvements include updated electrical panels, double-pane windows, a new boiler in 2023, and an updated fire alarm panel in 2018. Original hardwood floors, millwork, and built-ins provide character and opportunities for value-add renovations. Offered at approximately $198,000 per unit, The Kenneth provides investors with an opportunity to increase rental income through interior improvements and bringing rents closer to market levels. An assumable interest-only loan offers an additional financing option, subject to lender approval. Ideally positioned near major employment centers in Downtown Seattle and South Lake Union, The Kenneth combines historic charm, rental upside, and an outstanding urban location.