Sold

Listed by: Paragon Real Estate Advisors • Michael Urquhart

Bought with: Sound Asset Partners LLC

$2,650,000

221 Belmont Avenue E, Seattle, WA 98102

--beds

18baths

8,700sqft

Multi Family

Built in 1928

-- sqft lot

$2,619,300 Zestimate^®

$305/sqft

$2,732 Estimated rent

Home value

$2,619,300

$2.41M - $2.83M

$2,732/mo

Zestimate^® history

Owner options

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$2,732/mo

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$2,732/mo

Rent Zestimate^®

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$15,930/mo

Est. payment

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$15,930/mo

Est. payment

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What's special

High-efficiency tankless water heatersInterior enhancements

18-unit multifamily property located in the heart of Capitol Hill. Significant recent upgrades—including new electrical service mains and subpanels (2013) and high-efficiency tankless water heaters (2022). Offered at just $177,778/unit and $368/SF, The Strand represents a compelling basis play in the heart of Capitol Hill. The property delivers a current 5.9% cap rate, giving investors durable in-place income along with the upside potential of interior enhancements and rent growth in one of Seattle’s most sought-after rental markets. The Strand offers a rare opportunity to secure a character-rich asset at an attractive cost basis and benefit from continued appreciation in one of Seattle’s most resilient, high-demand submarkets.

Facts & features

Interior

Bedrooms & bathrooms

Bathrooms: 18

Heating

Baseboard, Electric

Cooling

None

Features

Flooring: Hardwood, Laminate
Has fireplace: No

Interior area

Total structure area: 8,700
Total interior livable area: 8,700 sqft

Property

Parking

Total spaces: 5
Parking features: Garage
Garage spaces: 5

Lot

Size: 4,800 Square Feet

Details

Parcel number: 6848200610
Zoning description: Jurisdiction: City
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: 10+ Units
Property subtype: Multi Family

Materials

Brick
Foundation: Poured Concrete
Roof: Flat

Condition

Year built: 1928

Utilities & green energy

Sewer: Sewer Connected

Community & HOA

Community

Subdivision: Capitol Hill

Location

Region: Seattle

Financial & listing details

Price per square foot: $305/sqft
Annual tax amount: $36,914
Date on market: 1/23/2026
Cumulative days on market: 180 days
Listing terms: Conventional

Price history

Date	Event	Price
5/1/2026	Sold	$2,650,000-17.2%$305/sqft
Source: NWMLS as distributed by MLS GRID #2441868 Report a problem
2/11/2026	Pending sale	$3,200,000$368/sqft
Source: NWMLS as distributed by MLS GRID #2441868 Report a problem
10/6/2025	Listed for sale	$3,200,000$368/sqft
Source: NWMLS as distributed by MLS GRID #2441868 Report a problem
5/1/2025	Listing removed	$1,295
Source: Zillow Rentals Report a problem
3/19/2025	Listed for rent	$1,295+1.6%
Source: Zillow Rentals Report a problem
2/16/2025	Listing removed	$1,275
Source: Zillow Rentals Report a problem
8/31/2024	Price change	$1,275-1.5%
Source: Zillow Rentals Report a problem
5/8/2024	Listed for rent	$1,295
Source: Zillow Rentals Report a problem
7/18/2023	Listing removed	--
Source: Zillow Rentals Report a problem
5/5/2023	Price change	$1,295-0.4%
Source: Zillow Rentals Report a problem
4/5/2023	Price change	$1,300-1.9%
Source: Zillow Rentals Report a problem
2/23/2023	Price change	$1,325+2.3%
Source: Zillow Rentals Report a problem
1/24/2023	Listed for rent	$1,295-10.7%
Source: Zillow Rentals Report a problem
7/12/2022	Listing removed	--
Source: Zillow Rental Manager Report a problem
6/18/2022	Listed for rent	$1,450+26.1%
Source: Zillow Rental Manager Report a problem
6/16/2021	Listing removed	--
Source: Zillow Rental Manager Report a problem
5/7/2021	Price change	$1,150+4.5%
Source: Zillow Rental Manager Report a problem
2/27/2021	Price change	$1,100-4.3%
Source: Zillow Rental Manager Report a problem
1/30/2021	Price change	$1,150-6.1%
Source: Zillow Rental Manager Report a problem
1/15/2021	Price change	$1,225-2%
Source: Zillow Rental Manager Report a problem
12/28/2020	Listed for rent	$1,250-5.7%
Source: Zillow Rental Manager Report a problem
10/26/2019	Listing removed	$1,325
Source: Zillow Rental Manager Report a problem
10/21/2019	Price change	$1,325-1.9%
Source: Zillow Rental Manager Report a problem
10/12/2019	Price change	$1,350-1.8%
Source: Zillow Rental Manager Report a problem
9/26/2019	Price change	$1,375-1.8%
Source: Zillow Rental Manager Report a problem
8/30/2019	Listed for rent	$1,400
Source: Zillow Rental Manager Report a problem