$2,125,000 $11,407 est/mo Sourced by Back At You
1111 18th Avenue , Seattle, WA 98122
Seattle, WA 98122
The 5,200 SF building built in 1900 comprises six 1BR/1BA apartments, two studios and a landlord space surrounded by English Laurel Hedge. A rarity in Seattle, the community includes seven off-street alley parking spaces in an area where parking comes at a premium. Tenant amenities range from an on-premises laundry room with newer app-operated washers and dryers, delivery area for packages, secured mailboxes, multiple bicycle storage areas, elevated semi-private decks and formal grounds.
Laurel Gate Heritage Apartments present multiple lucrative investment scenarios. For dependable cash flow, take advantage of the proximity to major stable employment centers including medical, education, technology and aerospace and Seattle’s rapidly rebounding apartment market (ranked by Fall 2021 Multifamily Investment Review as the third most active in the nation) as workforce housing for those seeking an urban lifestyle and varied commuting options. Holding the property as part of a diversified investment portfolio would also deliver long-term upside in the stable appreciating submarket. A third scenario is to redevelop the 7,200 SF lot under LR3 (M) zoning or wait for further upzones. The seller makes no warranties whatsoever regarding the feasibility of any redevelopment options and is selling the building as is. The buyer is encouraged to evaluate the feasibility of their preferred development approach.
You are invited to consider, for investment or redevelopment, the Laurel Gate Apartments—an historic, meticulously maintained 5,200 SF Federal Avenue style colonial revival residence on a flat 7,200 SF street-to-alley lot surrounded by a happy mix of new construction and well-maintained early Seattle infrastructure reconfigured into eight distinctive apartments with a 9th Landlord’s Space in the Squire Park neighborhood on the toe of downtown Seattle in Capitol Hill Seattle’s Pike Pine Corridor. Close to major employers and top-ranked institutions, Laurel Gate is just one mile from light rail at the Capitol Hill Station, within walking distance to Downtown Seattle and steps from First Hill medical facilities such as Swedish Medical Center, Harborview Medical Center and Virginia Mason Hospital as well as Kaiser Permanente Capitol Hill—combining character with convenience.
Lovingly cared for over the past three decades by a master carpenter/contractor-owner, the apartments have been upgraded along the way including a seismic retrofit, new plumbing, new wiring, new power panels, new exterior paint and siding, newer sewer line sections where needed, added insulation for thermal efficiency and acoustic separation, added plywood in shear walls for strength, further sound reduction, natural gas heat, Thermopane windows and an updated basement with dedicated water heaters per apartment. The property beams with pride of ownership.
Laurel Gate Heritage Apartments present multiple lucrative investment scenarios. For dependable cash flow, take advantage of the proximity to major stable employment centers including medical, education, technology and aerospace and Seattle’s rapidly rebounding apartment market (ranked by Fall 2021 Multifamily Investment Review as the third most active in the nation) as workforce housing for those seeking an urban lifestyle and varied commuting options. Holding the property as part of a diversified investment portfolio would also deliver long-term upside in the stable appreciating submarket. A third scenario is to redevelop the 7,200 SF lot under LR3 (M) zoning or wait for further upzones. The seller makes no warranties whatsoever regarding the feasibility of any redevelopment options and is selling the building as is. The buyer is encouraged to evaluate the feasibility of their preferred development approach.
Beyond the hedge of English laurel and the torii gate, this 5,200 SF Federal Avenue style colonial revival residence found new life under the meticulous care of its long-time carpenter-owner as eight distinctive apartments called the Laurel Gate. Relish the 124-yr-old Douglas Fir floors, semi-private balconies, exposed brick fireplaces, lofted units extending into fanciful attic spaces via ships ladders, repurposed built ins from a houseboat and a hotel, and artfully crafted woodwork throughout. Each home reveals a bespoke layout brimming with charming character to satisfy tenants’ search for something truly special and satisfy landlords’ desires to bring in top rents.
Apartment #1 - Offering an expansive entry and living area with natural light from six craftsmen style windows, built in bookshelves, box beam ceiling and 124-year-old fir floors, apartment number 1 was the original living room of this grand residence. Located on the first floor, it features a fireplace, a free standing gas furnace, one bedroom with large closet, kitchen with new stove, 3/4 bathroom and new paint throughout.
Apartment #1 - Offering an expansive entry and living area with natural light from six craftsmen style windows, built in bookshelves, box beam ceiling and 124-year-old fir floors, apartment number 1 was the original living room of this grand residence. Located on the first floor, it features a fireplace, a free standing gas furnace, one bedroom with large closet, kitchen with new stove, 3/4 bathroom and new paint throughout.
Apartment #1 - Offering an expansive entry and living area with natural light from six craftsmen style windows, built in bookshelves, box beam ceiling and 124-year-old fir floors, apartment number 1 was the original living room of this grand residence. Located on the first floor, it features a fireplace, a free standing gas furnace, one bedroom with large closet, kitchen with new stove, 3/4 bathroom and new paint throughout.
Apartment #2 - Apartment 2 is a 2-story home with 124-year-old wood floors and two fireplaces with gas furnaces. The first floor features a living area and large 3/4 bath with makeup area/changing room. Original stairs lead up to the 2nd floor with one bedroom, 3/4 bath, kitchen and a repurposed cedar bar with cherry top pulled from the floating home next to the Sleepless in Seattle houseboat during one of the owner’s remodels.
Apartment #2 - Apartment 2 is a 2-story home with 124-year-old wood floors and two fireplaces with gas furnaces. The first floor features a living area and large 3/4 bath with makeup area/changing room. Original stairs lead up to the 2nd floor with one bedroom, 3/4 bath, kitchen and a repurposed cedar bar with cherry top pulled from the floating home next to the Sleepless in Seattle houseboat during one of the owner’s remodels.
Apartment #3 - Enter apartment 3 through a large enclosed sun porch with tiled floor (great for plants, reading nook, bike storage, etc.). This coveted first floor home offers 124-year-old fir floors, fireplace with gas furnace, one bedroom with oak floors filled with light from two large windows, walk through kitchen and 3/4 bath.
Apartment #3 - Enter apartment 3 through a large enclosed sun porch with tiled floor (great for plants, reading nook, bike storage, etc.). This coveted first floor home offers 124-year-old fir floors, fireplace with gas furnace, one bedroom with oak floors filled with light from two large windows, walk through kitchen and 3/4 bath.
Apartment #4 - From the second floor semi-private balcony, discover charming apartment 4 featuring oak flooring, living room with built in bookshelves, kitchen, full bath, wall mounted heater, and a clever ship’s ladder leading up to a fanciful loft.
Apartment #5 - A one bedroom with 3/4 bath, kitchen and wall mounted heater, apartment 5 is on the first level with a small deck.
Apartment #5 - A one bedroom with 3/4 bath, kitchen and wall mounted heater, apartment 5 is on the first level with a small deck.
Apartment #6 - Enjoy a semi-private balcony on the second floor facing east. Apartment 6 is a studio with a cozy living room, built in bed platform, small kitchen, large closet, hallway, exposed brick chimney, and 3/4 bath with an historic repurposed sink from a downtown hotel.
Apartment #6 - Enjoy a semi-private balcony on the second floor facing east. Apartment 6 is a studio with a cozy living room, built in bed platform, small kitchen, large closet, hallway, exposed brick chimney, and 3/4 bath with an historic repurposed sink from a downtown hotel.
Apartment #7 - On the second floor with a small deck area, apartment 7 features oak floors, small kitchen, full bathroom and repurposed storage hutch from an area houseboat with built in garbage container, chopping block, and storage cabinet with glass doors. Follow the timber frame stairs up to the spacious sleeping loft.
Apartment #7 - On the second floor with a small deck area, apartment 7 features oak floors, small kitchen, full bathroom and repurposed storage hutch from an area houseboat with built in garbage container, chopping block, and storage cabinet with glass doors. Follow the timber frame stairs up to the spacious sleeping loft.
Apartment #7 - On the second floor with a small deck area, apartment 7 features oak floors, small kitchen, full bathroom and repurposed storage hutch from an area houseboat with built in garbage container, chopping block, and storage cabinet with glass doors. Follow the timber frame stairs up to the spacious sleeping loft.
Apartment #7 - On the second floor with a small deck area, apartment 7 features oak floors, small kitchen, full bathroom and repurposed storage hutch from an area houseboat with built in garbage container, chopping block, and storage cabinet with glass doors. Follow the timber frame stairs up to the spacious sleeping loft.
Apartment #7 - On the second floor with a small deck area, apartment 7 features oak floors, small kitchen, full bathroom and repurposed storage hutch from an area houseboat with built in garbage container, chopping block, and storage cabinet with glass doors. Follow the timber frame stairs up to the spacious sleeping loft.
Apartment #8 - Spread your wings on the second floor in apartment 8 with a spacious bedroom and office area, living room, kitchen and full bath. Features oak floors and carpet in the bedroom.
Apartment #8 - Spread your wings on the second floor in apartment 8 with a spacious bedroom and office area, living room, kitchen and full bath. Features oak floors and carpet in the bedroom.
Apartment #8 - Spread your wings on the second floor in apartment 8 with a spacious bedroom and office area, living room, kitchen and full bath. Features oak floors and carpet in the bedroom.
Owners Space - Offering 124-year-old fir floors, 3/4 bath and enough space for a cot, sleeping pad or lofted bed, this cozy bonus unit is a designated space for the building’s owner.
Owners Space - Offering 124-year-old fir floors, 3/4 bath and enough space for a cot, sleeping pad or lofted bed, this cozy bonus unit is a designated space for the building’s owner.
Owners Space - Offering 124-year-old fir floors, 3/4 bath and enough space for a cot, sleeping pad or lofted bed, this cozy bonus unit is a designated space for the building’s owner.
Utilities Room - A seismic retrofit, new plumbing and wiring, new electrical panels, gas heat, Thermopane windows, added insulation for efficiency, added soundproofing, and added plywood at shear walls for strength, and partially updated sewer system, the building was upgraded at every opportunity. Over the past 30 years, the owner has worked on every inch of the complex from the crawl space to the attic. The apartments are in impeccable condition and everything is well- maintained, beaming with pride of ownership.
Utilities Room - A seismic retrofit, new plumbing and wiring, new electrical panels, gas heat, Thermopane windows, added insulation for efficiency, added soundproofing, and added plywood at shear walls for strength, and partially updated sewer system, the building was upgraded at every opportunity. Over the past 30 years, the owner has worked on every inch of the complex from the crawl space to the attic. The apartments are in impeccable condition and everything is well- maintained, beaming with pride of ownership.
Pick the path that suits your investment goals to realize the lucrative potential of this offering. In the first investment scenario, the 8 apartments would be maintained in their existing configuration, retaining current tenants. The second redevelopment scenario, per LR3 (M) zoning, would allow for the development of a new structure up to up to 40 or 50 feet in height. Buyers considering redevelopment are urged to investigate with the City of Seattle the feasibility of their desired development outcome. The seller makes no warranties whatsoever regarding the feasibility of any redevelopment options.
Beyond the English laurel and torii gate, this 5,200 SF Federal Avenue style colonial revival found new life under the meticulous care of its carpenter-owner as Laurel Gate—8 distinctive apartments. Relish 124-yr-old fir floors, balconies, exposed brick fireplaces, fanciful attic lofts and repurposed wood details throughout. Each home reveals a bespoke layout brimming with character to bring in top rent. A seismic retrofit, new plumbing and wiring, added insulation and upgrades at every turn beam with pride of ownership. From the lush front lawn and communal garden shed to the secure mailbox, shared laundry and alley parking, a sense of community and stewardship retains tenants. The 7200 SF lot with LR3 zoning offers development potential.
Pick the path that suits your investment goals to realize the lucrative potential of this offering. In the first investment scenario, the 8 apartments would be maintained in their existing configuration, retaining current tenants. The second redevelopment scenario, per LR3 (M) zoning, would allow for the development of a new structure up to up to 40 or 50 feet in height. Buyers considering redevelopment are urged to investigate with the City of Seattle the feasibility of their desired development outcome. The seller makes no warranties whatsoever regarding the feasibility of any redevelopment options.
Enjoying a central location, within close reach of employers and amenities in and around Seattle, Laurel Gate is near I-5, I-90 and 520 for easy commuting. It’s also just 12 blocks from the Capitol Hill Station of Sound Transit’s Link light rail with rapid transit north to Northgate (and as far as Lynnwood in August of 2024), south to SeaTac Airport, and east to Redmond for employment, shopping, dining and recreation. With a walk score of 94, residents can run a variety of daily errands without the use of a car. Enjoy notable restaurants, cozy bars, an array of grocery shopping options, historic parks and the Seattle’s vibrant art scene—all within walking distance. This property was also awarded a bike score of 95—another carless transportation option.
Enjoying a central location, within close reach of employers and amenities in and around Seattle, Laurel Gate is near I-5, I-90 and 520 for easy commuting. It’s also just 12 blocks from the Capitol Hill Station of Sound Transit’s Link light rail with rapid transit north to Northgate (and as far as Lynnwood in August of 2024), south to SeaTac Airport, and east to Redmond for employment, shopping, dining and recreation. With a walk score of 94, residents can run a variety of daily errands without the use of a car. Enjoy notable restaurants, cozy bars, an array of grocery shopping options, historic parks and the Seattle’s vibrant art scene—all within walking distance. This property was also awarded a bike score of 95—another carless transportation option.
Description
Beyond the English laurel and torii gate, this 5,500 SF Federal Avenue style colonial revival found new life under the meticulous care of its carpenter-owner as Laurel Gate8 distinctive apartments. Relish 124-yr-old fir floors, balconies, exposed brick fireplaces, fanciful attic lofts and repurposed wood details throughout. Each home reveals a bespoke layout brimming with character to bring in top rent. A seismic retrofit, new plumbing and wiring, added insulation and upgrades at every turn beam with pride of ownership. From the lush front lawn and communal garden shed to the secure mailbox, shared laundry and alley parking, a sense of community and stewardship retains tenants. The 7200 SF lot with LR3 zoning offers development potential.
Details
| MLS# | 2341867 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Building Name | Laurel Gate—8 |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 44 |
| Listing Provided By | Windermere Real Estate Co. | Edward Krigsman |
Features
| SQ Feet | 5,468 |
|---|---|
| Story(s) | 2 |
| Units | 8 |
| Zoning | Multi-Family |
| Acreage | 0.17 |
| Property View | Yes |
Market Activity 98122
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Learn More About This Property
| State | WA |
|---|---|
| County | King |
| City | Seattle |
| Zip Code | 98122 |
| Area | 390 Central Seattle |
| Community Name | Capitol Hill |
| School District | Garfield High |
| Elementary School | Madrona Elementary |
| Middle School | Meany Mid |
| High School | Garfield High |
| Listing VS Median (In Capitol Hill) | |
Price: $2,125,000 low | high Med: $735,000 SqFt: 5,468 low | high Med: 1,140 $ / SqFt: $389 low | high Med: $647 On site: 44 low | high Med: 13.500000 | |
Listing Updated: April 15, 2025 at 3:20:18 PM PDT