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Listings/The Hudson Apartments

The Hudson Apartments

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Executive Summary

It’s as easy as one, two, three…

The Hudson is a unique core-plus asset located in Seattle’s Queen Anne neighborhood, central to Fremont, Westlake, and South Lake Union. Situated on the western shore of Lake Union, the property boasts spectacular water views and ease of access throughout the city.

Built in 1987, The Hudson underwent extensive renovations from 2014 through 2016 to most amenity areas and nearly 80% of units. Opportunity now lies with the next owner to improve, promote, and polish the remaining units and common areas of The Hudson to successfully position the asset in the market and compete with newly-built premium apartment buildings in Seattle.

Site Details

Address
2450 Aurora Avenue N, Seattle
Number of Parcels
1
Zoning
LR3
Parcel Size
65,692 SF
Parcel Number
352890-0745
2018 Tax Assessment
$292,950

Development Details

Units
127
Year Built
1987
Years Renovated
2014 - 2016
NRSF
76,360 SF
Avg Unit Size
601 SF
Number of Buildings
2
Number of Stories
4
Parking
60 Stalls
Laundry
In-Unit

Opportunity

Achieve considerable rent growth by year 3 by renovating the remaining Classic (16) and Spec B (11) units and improving operations on all renovated units to mirror nearby comps.

Elevating The Hudson’s brand image, marketing materials, and advertising strategy is key to promoting the asset’s quality and offerings.

To compete with newly-built buildings, refresh and upgrade the last 15% of common areas in this 1987 building.

Improve Units

Promote

Polish

Location

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The Hudson Apartments

2450 Aurora Ave N
Seattle, WA 98109
Units: 112
Price: $38,750,000

About the Area

From the Seattle Center to Kerry Park, Queen Anne is Seattle’s defining neighborhood.

One of the oldest neighborhoods in Seattle, Queen Anne was the original home of many of the city’s founding figures. Today, Queen Anne maintains a consistent reputation as one of Seattle’s best neighborhoods.

Located atop Seattle’s second-tallest hill, East Queen Anne is known for its peaceful residential streets, ample parks, and sweeping views. Coupled with unique shops, Seattle’s best restaurants, and cozy coffee houses that comprise the heart of activity along Queen Anne Avenue North, this walkable neighborhood attracts families and young professionals alike.

While The Hudson is lucky to call East Queen Anne home, it also boasts proximity to Westlake, South Lake Union, and Fremont.

With Amazon’s continual growth in South Lake Union, other tech companies are following suit and are opening offices where they can tap into the deep engineering talent pool. Facebook recently moved into Westlake’s Dexter Station, while Apple, DropBox, and Google are also establishing a presence nearby.

Fremont lies just north of Queen Anne, and offers a bohemian vibe and quirky claims to fame. Many tech companies have taken note of the appeal of this authentic neighborhood as an alternative to South Lake Union, including Adobe, Deloitte, Google, and Tableau Software.

6,729

Population (0.5 Mile)

39.4

Median Age (0.5 Mile)

Average Income

$135,552 (0.5 Mile)

Contact Us

Exclusive Listing Brokers

Colliers International WA LLC is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Matt Laird are exclusively representing the Seller in the sale of The Hudson Apartments.

Direct: 206.414.8575

       
       

Direct: 425.736.5516