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$3,200,000

  • For Sale
  • Active
  • Multi-Family

Listed by Michael Urquhart | Paragon Real Estate Advisors | (206) 623-8880 and Ben Douglas | Paragon Real Estate Advisors | (206) 623-8880

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18-unit multifamily property located in the heart of Capitol Hill. Significant recent upgrades-including new electrical service mains and subpanels (2013) and high-efficiency tankless water heaters (2022). Offered at just $177,778/unit and $368/SF, The Strand represents a compelling basis play in the heart of Capitol Hill. The property delivers a current 5.9% cap rate, giving investors durable in-place income along with the upside potential of interior enhancements and rent growth in one of Seattle's most sought-after rental markets. The Strand offers a rare opportunity to secure a character-rich asset at an attractive cost basis and benefit from continued appreciation in one of Seattle's most resilient, high-demand submarkets.

Full Property Details for 221 Belmont Ave E

General

  • Price: $3,200,000
  • Taxes: $36,914 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: NWMLS
  • MLS ID: 2441868
  • Updated: 10/6/2025
  • Added to Site: 103 day(s) ago

Interior

  • Flooring: Hardwood, Laminate

Parking

  • Covered Spaces: 5

Location

  • Area: 390 - Central Seattle
  • County: King
  • Subdivision: Capitol Hill
  • Driving Directions: From I5 take exit 166 toward Stewart/Denny. Slight right on Stewart. Left on Denny. Left on E Olive. Left on Belmont. Property is on the left.

School Information

  • High School District: Seattle

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Baseboard

Utilities

  • Sewer: Sewer Connected

Structural Information

  • Structure Type: Multi Family
  • Exterior Const.: Brick
  • Foundation: Poured Concrete
  • Roof: Flat
  • Stories in Building: 3
  • Square Feet: 8,700
  • Year Built: 1928

Unit Information

  • Units in Building: 18

Lot Features

  • Lot Size (Acres): 0.1102
  • Lot Size (Sq. Ft.): 4,800
  • Lot Size Source: Public Records

Financial Considerations

  • Tax Amount: $36,914
  • Tax Year: 2025
  • Terms: Cash Out, Conventional

Disclosures and Reports

  • Special Conditions: None
  • Property ID: 6848200610

Listed by Michael Urquhart | Paragon Real Estate Advisors | (206) 623-8880 and Ben Douglas | Paragon Real Estate Advisors | (206) 623-8880

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NMLS#: 1598647

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Schools serving 221 Belmont Ave E

School District:Seattle School District
NameGradesDistance
Lowell Elementary School, Seattle, WA
1058 East Mercer Street, Seattle, WA 98102
PK-50.4 mi
Edmonds S. Meany Middle School
301 21st Avenue East, Seattle, WA 98112
6-80.9 mi
Garfield High School
400 23rd Avenue, Seattle, WA 98122
9-121.5 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 221 Belmont Ave E Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/06/2025
Listed
$3,200,000
10.41%
MLS
8/02/2013
Sold
$2,898,200
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 221 Belmont Ave E

Year
Property Taxes
Change
Tax Assessment
Change
2024
$41,962
—
$3,900,000
-12%
2024
$41,962
14%
$4,422,000
—
2022
$36,824
-16%
$4,422,000
1%
2021
$43,756
—
$4,393,000
-5%
2021
$43,756
14%
$4,612,000
14%
2020
$38,240
13%
$4,061,000
2%
2019
$33,710
1%
$3,984,000
16%
2018
$33,496
—
$3,434,000
-3%
2017
$33,350
21%
$3,541,000
24%
2016
$27,558
17%
$2,847,000
14%
2015
$23,607
-7%
$2,500,000
3%
2014
$25,460
—
$2,437,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Michael Urquhart | Paragon Real Estate Advisors | (206) 623-8880 and Ben Douglas | Paragon Real Estate Advisors | (206) 623-8880

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221 Belmont Avenue E, Seattle, WA 98102 (MLS# 2441868) is a Multi-Family property with 18 units containing 0 bedrooms and 0 full bathrooms. 221 Belmont Avenue E is currently listed for $3,200,000 and was received on October 06, 2025. Want to learn more about 221 Belmont Avenue E? Do you have questions about finding other Multi-Family real estate for sale in Broadway? You can browse all Broadway real estate or contact a Coldwell Banker agent to request more information.

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