Got $4 million? Buy a Junction-area apartment building

Latest apartment building on the market in West Seattle: 4840 California SW (map), a half-century-old 3-story, 28-unit building, listed for $4 million. (See the listing, with photo, here.)

GetSerious467 February 17, 2009 (4:42 pm)

Nice Cap Rate of 4.3. That probably wouldn’t have flown at the height of the market, but I guess it makes sense now that the market has COLLAPSED and no one can get a loan. Or not.

Someone please tell these WS real estate agents that the good ole days are over and its time to tell their clients to either get real or go pound sand.

BusinessOwner February 21, 2009 (7:21 pm)

GetSerious567,

I completely agree with you! When are people going to realize that the Real Estate market is constantly changing and you can expect the same market values that we sought in 2004-2006.

Seattle hasn’t even seen the worst of it yet! Get ready!

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