Belmont Terrace

717 Belmont Ave East

Units: 10

Purchased: 2010

Sold: 2012

On October 4th, 2010, Daly Partners, LLC, along with select investors, purchased for $1.2 million the 10-unit Belmont Terrace Apartments from the FDIC. The building, which sits in Seattle's Capitol Hill neighborhood, just went through a complete renovation and now consists of 10 large 2 bedroom, 2 bathroom units with sweeping views of Lake Union and downtown. The building achieved 100% occupancy by August, 2011, exceeding budgeted rental income by over 10%. In June of 2012, Belmont Terrace sold at a price of over $3.85 million, providing a high return to all investors.