Sol Studios presents a rare investment opportunity in Seattle’s highly desirable North Capitol Hill neighborhood, just blocks from the vibrant 19th Ave E retail and restaurant corridor. The property features high-end unit finishes and modern building systems, highlighted by an innovative solar thermal energy system that provides highly efficient heating and hot water. With strong in-place operations delivering immediate, reliable cash flow, Sol Studios offers an ideal 1031 exchange opportunity in a market where few properties match its combination of quality, scale, and performance.
Stevens, located between Capitol Hill and the Central District, is a residential and walkable Seattle neighborhood with leafy streets and classic early-20th-century homes. The neighborhood’s character concentrates around 19th Ave E and E Galer St, where a small cluster of cafes, corner markets, and everyday errands sets a calm, lived-in rhythm. Tree-lined blocks feature Craftsman houses, brick apartments, and tidy gardens stepping toward the Lake Washington ridge. Volunteer Park’s lawns and the Seattle Asian Art Museum add a cultural counterpoint to the quiet streets. The Interlaken Park stairways and trails thread through a green ravine, linking daily walks to a more wooded feel. A short climb west brings the cafés and music rooms of Capitol Hill into view without changing the neighborhood’s measured pace.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Vinyl plank flooring
Radiant heating
Cooling available
Bedrooms
27 studio units possible
Bathrooms
One bathroom per studio unit
Kitchen
Range/oven in units
Refrigerator in units
No dishwasher in units
Laundry & utility
Coin-operated laundry
No in-unit washer/dryer in studio units
Flooring
Vinyl plank
Heating & cooling
Radiant heat
Has cooling
Exterior features
Metal/vinyl exterior
Sidewalk
Home design
Multi-family residential income property
4 stories
Has a view
Very good condition
Possible use: Multi-family
Parking
No specific parking details provided
Construction
Built effectively in 2018
Metal and vinyl construction
Flat roof
Poured concrete foundation
Utilities
Electric energy source
Water: SPU
Sewer connected (SPU)
Power: Seattle Light
Financial info
Gross scheduled income: $360,210
Gross adjusted income: $389,552
Total monthly income: $32,130
Net operating income: $225,131
Total expenses: $164,421
Fuel expense: $8,893
Electric expense: $8,893
Insurance expense: $5,500
Other expense: $78,712
Gross rent multiplier: 17
Listing terms: Cash or Conventional
Other
Calculated building area: 6,902 square feet
27 units in the building (studios)
Typical studio unit size ~256 square feet
Example reported actual rent for a studio: $1,190
Electricity and solar
View estimated energy costs and solar savings for this home
Demolish existing structures and construct a new four-story apartment building containing small efficiency dwelling units.
Demolition
New construction
Jul 29, 2019 • Final
Construction
Construct a new multifamily apartment building and establish its use. Occupy the building according to the approved plan.
New construction
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Local insights from Redfin agents
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