91 NEWLY BUILT UNITS IN MAJOR EMPLOYMENT HUB
421 Belmont Ave E
Seattle, WA 98102
91
Units
2024
BUILT
26,069 NRSF
TOTAL SIZE
684820-0490
PARCELS
0.17 acres
LOT SIZE
MR (M)
ZONING
PRIME TURNKEY ASSET WITH INITIALLEASE-UP RECENTLY COMPLETED
Brand new 2024 construction in Seattle’s Capitol Hill neighborhood, just three blocks from Broadway, the area’s main hub for restaurants, shopping, and nightlife.
Capitol Hill offers quick access to the Central Business District, Downtown Seattle, and South Lake Union, supported by a Walk Score of 96 and a Transit Score of 87; with proximity to I-5 and I-90, Alt Flats serves as a gateway to major employer centers on the Eastside.
Achieving 95% occupancy, Alt Flats is fully stabilized and has completed its initial lease-up, demonstrating rental upside with recent rents setting new benchmarks at 15% with above current market rates; additional operating income of $107,247 is projected annually through storage, pet rent, parking, and laundry services.
Alt Flats boasts an Energy-Efficient, Built-Green 4-Star Certification.
The diverse unit mix includes studios, one- and two-bedroom units; 24% of all units are lofted, with open floorplans, high ceilings, and terraces.
Amenities include an unmatched panoramic rooftop deck overlooking Elliott Bay and South Lake Union, a firepit and grill, air conditioning on the top two floors, secured 24-hour access, a lobby lounge with Wi-Fi and workstations, and a communal kitchen with multiple cook stations and eating areas.
There is a robust renter pool within a one-mile radius, with 85% of housing units renter-occupied, compared to 38% in the Seattle Metro.
Alt Flats is well-connected to major employment hubs, including Capitol Hill, South Lake Union, and Downtown Seattle, home to over 9,300 workplaces and notable employers like Amazon, Google, and the University of Washington.
Primary Contact:
Unit Mix
Type
SF
Rent
Rent
Our Team
INVESTMENT SALES
Mitchell Belcher
Managing Director
425.891.9594
[email protected]
Steven Chattin
Managing Director
425.269.3826
[email protected]
Jay Timpani
Managing Director
206.999.3206
[email protected]
Chad Blenz
Senior Director
206.491.2008
[email protected]
Brandon Lawler
Senior Director
206.484.8114
[email protected]
offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3720
Seattle, WA 98101
206.521.7220
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