Carlton Apartments

Cushman & Wakefield Capital Markets (“C&W”) is pleased to present an exclusive opportunity to acquire the Carlton Apartments—a 30-unit vintage apartment community in the heart of South Lake Union—alongside a fully leased, NNN office building occupied by Ocean Park Mechanical. This rare combination offers immediate cash flow and investment stability, while also unlocking the potential for future development of more than 100 apartment units. The site is located in a quiet part of South Lake Union and offers sweeping views of Lake Union, the Seattle skyline, and the Olympic Mountains. This is a stable, value-add apartment investment with strong in-place cash flow, immediate upside potential, and long-term redevelopment opportunities—all within a beloved, historic building. Adjacent to the Carlton is a 4,526 SF office building leased to Ocean Park Mechanical, an Irvine-based mechanical engineering firm with six offices along the West Coast. The lease runs for the next five years, providing dependable income during your planning or holding period. The 13,920 SF site is zoned SM-SLU 100/95 and can support development of over 100 units across 9 stories, many of which would benefit from stunning north and west-facing views. This is an exceptional opportunity to acquire an asset with strong current returns, substantial upside, and long-term development potential.