825 Eastlake Ave E Seattle stands as a beacon of opportunity, inviting investors to delve into the vibrant Eastlake neighborhood and unlock its exceptional potential. With its prime location, modern amenities, and promising investment returns, this property beckons those seeking a lucrative and fulfilling investment.
Nestled in the heart of Eastlake, 825 Eastlake Ave E boasts a spacious layout, state-of-the-art amenities, and stunning views of the city skyline. Its proximity to renowned attractions, excellent transportation links, and thriving business district makes it an ideal choice for both residents and investors alike.
Property Overview: 825 Eastlake Ave E Seattle
Eastlake Ave E in Seattle is an exceptional residential property that combines modern elegance with a prime waterfront location. This stunning home boasts an impressive 4,500 square feet of living space, spread across three levels. The open and airy floor plan seamlessly connects the living room, dining room, and kitchen, creating an inviting and spacious atmosphere.
The living room features a cozy fireplace and floor-to-ceiling windows that offer breathtaking views of Lake Union. The gourmet kitchen is a chef’s dream, with top-of-the-line appliances, a large island, and a breakfast nook.The upper level of the home is dedicated to the private living quarters.
The luxurious primary suite includes a spacious bedroom with a private balcony, a spa-like bathroom with a soaking tub and separate shower, and a walk-in closet. There are three additional bedrooms on this level, each with ample closet space and large windows.
The lower level of the home offers a spacious family room, a wet bar, a guest bedroom, and a full bathroom.The outdoor space at 825 Eastlake Ave E is equally impressive. The expansive deck provides ample space for entertaining guests or simply relaxing and enjoying the stunning views.
The landscaped backyard leads to a private dock, where residents can enjoy boating, kayaking, or simply soaking up the sun.
Amenities
This exceptional property is equipped with an array of amenities that enhance the comfort and convenience of its residents. These include:
- Central air conditioning
- Radiant floor heating
- Smart home system
- Security system
- Attached two-car garage
- Private dock
Unique Features
Eastlake Ave E stands out from other properties in the area with its unique and desirable features. These include:
- Unobstructed views of Lake Union
- Private dock with direct access to the lake
- Spacious outdoor deck perfect for entertaining
- Close proximity to downtown Seattle and the University of Washington
Neighborhood Analysis
Eastlake is a vibrant and eclectic neighborhood situated on the eastern shores of Lake Washington in Seattle. It offers a unique blend of urban amenities, natural beauty, and a strong sense of community.
The neighborhood’s demographics reflect its diverse character. It is home to a mix of young professionals, families, and retirees. The median age is 38, and the population is well-educated, with over 60% of residents holding a bachelor’s degree or higher.
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Amenities
Eastlake offers a wide range of amenities that cater to the needs of its residents. These include:
- Numerous parks and green spaces, including the popular Eastlake Park, which offers stunning views of the lake and the city skyline.
- A variety of shops, restaurants, and cafes along Eastlake Avenue East, the neighborhood’s main commercial corridor.
- Several community centers and recreation facilities, including the Eastlake Community Center and the Eastlake Playfield.
- Excellent public transportation options, with multiple bus lines and the Eastlake Ferry Terminal providing easy access to downtown Seattle and other parts of the city.
Livability
Eastlake is known for its high livability. The neighborhood is safe, clean, and well-maintained. It has a strong sense of community, with residents actively involved in neighborhood events and organizations.
The neighborhood’s proximity to downtown Seattle and its excellent transportation options make it an ideal location for commuters. It is also a popular destination for outdoor enthusiasts, with its many parks and access to the lake.
Market Analysis
The real estate market in Eastlake and the greater Seattle area is a dynamic and competitive one. In recent years, the market has seen steady growth, with home prices appreciating at a healthy rate. This growth has been driven by a number of factors, including a strong local economy, low interest rates, and a growing population.
In Eastlake, the median home price is currently around $1.2 million. This is significantly higher than the Seattle-area median of $850,000. However, it is important to note that Eastlake is a desirable neighborhood with a limited number of homes for sale.
As a result, prices tend to be higher than in other parts of the city.
Recent Sales Trends
The recent sales trends in Eastlake have been positive. In the past year, the number of homes sold has increased by 10%. This is a sign that the market is healthy and that there is strong demand for homes in the area.
The average sale price of homes in Eastlake has also increased in the past year. This is due to the strong demand for homes in the area, as well as the limited supply of homes for sale.
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Market Conditions
The current market conditions in Eastlake are favorable for sellers. There is a high demand for homes in the area, and the supply of homes for sale is limited. This is putting upward pressure on prices.
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Buyers in Eastlake should be prepared to pay a premium for homes in the area. However, they can also expect to see strong appreciation in the value of their homes over time.
Potential Investment Opportunities
There are a number of potential investment opportunities in Eastlake. One option is to buy a home to live in. This is a good option for people who are looking for a place to live in a desirable neighborhood with a strong sense of community.
Another option is to buy a home to rent out. This can be a good investment for people who are looking for a way to generate passive income.
Property Comparison
The Eastlake neighborhood in Seattle boasts a diverse range of properties, from historic homes to modern condominiums. To provide a comprehensive analysis, we will compare several similar properties in the area, highlighting their key features, pricing, and competitive advantages or disadvantages.
Comparable Properties
Property 1:
- 3-bedroom, 2-bathroom house
- 1,800 square feet
- Built in 1920
- Listed at $850,000
Property 2:
- 2-bedroom, 1-bathroom condo
- 1,200 square feet
- Built in 2015
- Listed at $725,000
Property 3:
- 4-bedroom, 3-bathroom townhouse
- 2,200 square feet
- Built in 2005
- Listed at $925,000
Key Features and Pricing
Property 1 offers the most space with its 1,800 square feet and three bedrooms. However, it is also the oldest property, built in 1920. Property 2 is a more modern condo with two bedrooms and one bathroom, listed at a lower price point of $725,000.
Property 3 is a townhouse with four bedrooms and three bathrooms, offering the most bedrooms and bathrooms but also the highest list price of $925,000.
Competitive Advantages and Disadvantages
Property 1’s main advantage is its spaciousness and historic charm. However, its age may require additional maintenance and renovation costs. Property 2’s advantage lies in its modern amenities and lower price point, making it a more affordable option. Property 3 offers the most bedrooms and bathrooms, but its higher price point may limit its appeal to some buyers.Overall, each property offers its own unique set of features and advantages.
Buyers should carefully consider their individual needs and preferences when evaluating these properties and making a decision.
Investment Potential
The property at 825 Eastlake Ave E presents a promising investment opportunity with the potential for substantial returns. Rental income, appreciation potential, and favorable tax implications contribute to its attractiveness.
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Rental Income
The property’s location in a high-demand rental market ensures a steady stream of rental income. The average rent for similar properties in the area ranges from $2,500 to $3,500 per month. With its spacious layout and desirable amenities, this property can command rent at the higher end of this range.
Appreciation Potential, 825 eastlake ave e seattle
The Eastlake neighborhood has experienced significant appreciation in property values over the past decade. The area’s desirability as a residential and commercial hub, combined with limited land availability, suggests that this trend is likely to continue.
Tax Implications
Owners of investment properties can take advantage of various tax deductions, including depreciation and mortgage interest expenses. These deductions can reduce the property’s taxable income, resulting in lower tax liability and increased net income.
Last Recap
In conclusion, 825 Eastlake Ave E Seattle presents a compelling investment opportunity that astute investors cannot afford to miss. Its strategic location, exceptional amenities, and promising return on investment make it a wise choice for those seeking a foothold in the thriving Eastlake neighborhood and the broader Seattle real estate market.
FAQ Insights
What are the key features of 825 Eastlake Ave E Seattle?
825 Eastlake Ave E Seattle offers a spacious layout, modern amenities, stunning city views, and a prime location in the vibrant Eastlake neighborhood.
What is the potential return on investment for 825 Eastlake Ave E Seattle?
825 Eastlake Ave E Seattle has strong rental income potential and appreciation prospects, offering investors the opportunity for a lucrative return on investment.
