3104 Western Avenue Seattle, WA 98121

$2,275,000
$2,275,000
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Secure access, 72-stall parking garage located in a Class A condo in Belltown, blocks to Seattle's waterfront & Seattle Center. 69 car spaces, 3 motorcycle stalls. Current monthly parking rates are below market with immediate upside potential allowing for a likely 7.6% cap rate. Out-of-town seller willing to carry the contract at 6.25% for 5 years with $1M down payment. Shrinking inventory of parking spaces as new construction typically provides less parking than needed and surface parking lots are redeveloped. Near $0 in maintenance costs given condo structure / HOA responsibility. Located within a well-maintained building. Car collector/owner-occupant opportunity. 40-50 spaces occupied by office building across the street with no parking.

Secure access, 72-stall parking garage located in a Class A condo in Belltown, blocks to Seattle's waterfront & Seattle Center. 69 car spaces, 3 motorcycle stalls. Current monthly parking rates are below market with immediate upside potential allowing for a likely 7.6% cap rate. Out-of-town seller willing to carry the contract at 6.25% for 5 years with $1M down payment. Shrinking inventory of parking spaces as new construction typically provides less parking than needed and surface parking lots are redeveloped. Near $0 in maintenance costs given condo structure / HOA responsibility. Located within a well-maintained building. Car collector/owner-occupant opportunity. 40-50 spaces occupied by office building across the street with no parking.

  • Neighborhood
  • Type
  • County
    King
  • Area
    701 - Belltown/Downtown Seattle
  • HOA Dues
    $1,000/mo
  • Tax Amount
    $16,586
  • Status
    Active
  • Listing #
    2369846
  • Built
    2008
  • Listed on site
    89 days

Listed by:
Kidder Mathews

Listing information © 2023 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by LaVerne Pike - Windermere Real Estate - and should be verified by the buyer. The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Laverne Pike - Windermere Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2025-07-30 22:28:25. DMCA
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Property details

Community Features

  • Has HOA
  • No Adult Community

Exterior features

  • No Pool

Property History

DateDays AgoEventNew Price
Jul 16, 202514 days agoPrice decreased350,000 (13%)$2,275,000
May 2, 20253 mos agoNew on market$2,625,000
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