1613 Summit Avenue

www.colliers.com

Sam Wayne

Senior Vice President sam.wayne@colliers.com +1 206 351 7656

Opportunity In The Heart Of Capitol Hill

The Offering

Photos

Location

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1613 Summit Ave Seattle, WA

Investment Overview

Colliers Capital Markets Group is pleased to present 1613 Summit Avenue, a desirable 14-unit multifamily offering in the heart of Seattle’s Capitol Hill. Fully leased to a stable, long-tenured resident base and producing durable in-place income with no near-term capital needs, the Property delivers predictable, day-one cash flow in a prime urban location — at a basis well below replacement cost. Constructed in 1964 and thoughtfully renovated, the Property pairs classic mid-century character with modern livability. Its fourteen one-bedroom residences serve Capitol Hill’s deep renter base at strong in-place rents that sit modestly below market, offering a new owner low-risk embedded upside as leases renew — all with RUBS recovery and a lean operating profile that leave little to fix.

Executive Highlights

MODERN, RENT-READY INTERIORS

Renovated units with updated kitchens, baths, and finishes command market rents today and turn quickly with minimal make-ready cost.

NO CAPEX, IMMEDIATE CASH FLOW

A completed capital program means a new owner inherits stabilized income with no near-term spend or renovation risk.

PROVEN, STICKY TENANCY

Residents in place on average since 2023 with low turnover — durable, in-place income rather than a pro-forma projection.

Recent Capital Improvements

The work is already done. Prior ownership completed a full program of interior and capital improvements, positioning 1613 Summit as a turnkey acquisition — no lease-up risk, no renovation risk, and no near-term capital for a new owner to absorb.

Own it, Not Fix it

Access Deal Room

Caden Hughes

Associate caden.hughes@colliers.com +1 253 778 9270

Access Deal Room

Property Location

CLEAN, PASSIVE OWNERSHIP

Fourteen identical units with RUBS in place and lean operations — one turn spec, one renewal playbook.

DEEP, RESILIENT DEMAND

Efficient one-bedrooms — the deepest tenant pool and the first to fill when demand softens.

UPDATED BUILDING SYSTEMS

Electrical panels and other building systems have been redone, reducing deferred-maintenance risk and the surprises that come with 1960s vintage.

Dylan Luxenberg

Associate dylan.luxenberg@colliers.com +1 253 973 5094