FB
[email protected]
206-338-3535
Home / Seattle Condos / Capitol Hill / Portofino / Investor Lists 3 Portofino Units

Investor Lists 3 Portofino Units

By December 16, 2010

Portofino

Over the years an investor accumulated at least three units at the Portofino, a loft-y Capitol Hill building on Pine. I’m surprised that with rising rents and declining vacancy rates that they’d unload them now. But times must be tough because they’re all short sales:

  • Unit #311 for $249,950: 514 square feet, corner unit, last sold 7/3/06 for $256k.
  • Unit #212 for $249,950: 541 square feet, last sold 12/6/07 for $258k.
  • Unit #210 for $229,950: 592 square feet, last sold 8/27/03 for $205.

I’d normally caution people away from short sales but after seeing a short sale in my building, Trace Lofts, sell yesterday for the great price of $199k (last sale was 10/2/07 for $335k), it might be time to warm up to them. $324/square foot for Trace Lofts is a screaming deal (and decimates my comps.)

I own and manage Urban Living, a boutique Seattle and Bellevue real estate brokerage. I love lofts, floating homes, new construction, and mid-century moderns, but I will help you buy or sell just about anything!

Get in touch to:

  • Understand the market
  • Find your perfect home
  • Sell your home

Contact:

206-203-6242