The Harvard on Capitol Hill
 
Purchased in November 2018, The Harvard on Capitol Hill (“The Harvard”) is located in Capital Hill, considered one of Seattle’s most desirable residential neighborhoods.  The building offers 4 studios, 16 one-bedrooms and 8 two-bedroom units, plus 14 paid parking spots for tenants. The Harvard is in the center of Capitol Hill’s entertainment offerings, two blocks from Light Rail, and <2 miles to major employers including Amazon, Facebook, Gates Foundation and Google’s future campus. 
 
The business plan is to raise rents and ancillary charges to market through extensive renovations which include: 
  • Gut renovation of non-renovated apartments 
  • Recapture underutilized space to add bedrooms to apartments. 
  • Renovate lobby and facade to improve curb appeal
  • Add amenities (gym, pet wash area and bike storage with repair area).
  • Add parking spots and raise all parking rates to market rates.
  • Rebrand building and create floor plans, staged photos and a web presence for leasing.
  • Implement institutional hands-on management and a dedicated onsite manager. 
  • Potentially add units in the future. 
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