Boylston Triplex

Project Details

1904 Home Converted to Three Unit Apartment Building

2319 Boylston Ave E, Seattle, WA 98102

Two of the three units in this converted former single family residence were substantially improved by 47 North Development including new kitchen cabinets, counters, and appliances.

Exterior west facing decks were removed and select windows were replaced with fire rated glass to accommodate 47 North's Boylston View townhome project on the vacant land to the west of the triplex off the alley.


Project Goals

  • Renovate units to increase rents to market rate.
  • Subdivide existing rental building from excess developable land to the west.
  • Operate existing building to maximize investment cash flow.

Key Investment Highlights

  • Refinance event after unit renovations and division of the property resulted in developable land being released as security from the income property loan.
  • Building was sold in 2017 for $965K which equates to 96% price appreciation without any consideration for the value of the excess land that was previously developed.

By The Numbers

Acquired - 2011

Built/Renovated - 1904/2012

Sold - 2017

Lot - 2,342 SF

Zoning - LR3

Project - 2320 SF

Investment Duration - 6 YRS

Project Team

Developer: 47 North

Features of Boylston Triplex

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