Monterey 8008 Greenwood Ave N

Paragon Real Estate Advisors is pleased to exclusively offer for sale the Monterey Apartments; a charming, classic brick building located in the heart of Seattle’s popular Greenwood neighborhood. Designed by respected draftsman Edwin E. Dofsen and Built in 1929, The Monterey Apartments feature elegant and timeless architecture that appeals to a broad spectrum of renters seeking character and warmth not found in typical new buildings. There are a total of 13 apartments with a balanced mix of spacious studios and one-bedrooms and a large (1,253 sqft), recently renovated two-bedroom plus den floorplan. The units are inviting and spacious, with tall ceilings, beautiful original hardwood floors, efficient floor plans, charming period details and great natural lighting. Units on the upper floor enjoy wonderful territorial views of Green Lake and Greenwood.
The building features a secure entry to the lobby area and stairway to the upper floors. Apartments 1,2 and 3 are accessed through their own private entries on the street level. There is a bright and clean common laundry and resident storage area located on the lower level. The Monterey Apartments offer an investor the opportunity to own a stable, well-managed building, rich in history and character in a 50-yard line location of one of Seattle’s most popular neighborhoods. The property offers immediate upside in income in the current condition and further upside through a light renovation of the units and select upgrades. The large two-bedroom unit presents opportunity and could function as an owner’s apartment, a live/work space or could potentially be converted to a commercial space. New ownership will benefit from strong future rent growth and appreciation and has several options to realize immediate income upside and ways of adding value.
Seller financing is available to qualified buyers.