Union Hill-Novelty Hill, WA Commercial Investment Properties for Sale
Explore commercial real estate investment properties for sale in Union Hill-Novelty Hill, Washington Market population: 22K. Browse multifamily, office, retail, industrial, and mixed-use...
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12 properties found
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⭐ Featured
Strategic Oakland Investment: 5476 Vicente Way in High-Demand 94609 Zip Code
$1,200,000
Oakland
Multifamily
Cap Rate
2.70%
NOI
$32,400
Size
1,800 SF
📊 Avg Property Tax Rate For Union Hill-Novelty Hill WA Properties: 0.8800%
⭐ Featured
High-Cap-Rate Value-Add Multifamily Investment in Oakland
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,323
Size
6,104 SF
Investor Questions For Union Hill-Novelty Hill WA
Common questions from investors exploring commercial real estate in Union Hill-Novelty Hill WA.
What makes Union Hill-Novelty Hill, WA an attractive location for real estate investment?
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The combination of a high median household income of $143,419, a low poverty rate of 2.6%, and a diverse population with top ethnicities including White, Asian, and Hispanic or Latino, suggests a stable and growing market. The area's strong employment rate, with 11,419 employed individuals and top industries in professional services and information, also contributes to its attractiveness. Additionally, the high health insurance coverage rate of 98.2% and relatively low average commute time of 31.4 minutes indicate a high quality of life for residents.
How does the local economy impact the real estate market in Union Hill-Novelty Hill, WA?
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The local economy, driven by top industries such as professional services, information, and manufacturing, supports a high median household income and low poverty rate, making it an ideal location for real estate investment. The area's low unemployment rate of 2.3% and high employment rate of 11,419 individuals also contribute to a stable market. Furthermore, the area's diverse population, with a foreign born rate of 18.5%, and high health insurance coverage rate, suggest a strong and resilient local economy.
What are the key factors to consider when evaluating the quality of life in Union Hill-Novelty Hill, WA for real estate investment?
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The average commute time of 31.4 minutes, top commute methods including driving alone and working from home, and high health insurance coverage rate of 98.2% all contribute to a high quality of life in Union Hill-Novelty Hill, WA. Additionally, the area's low poverty rate of 2.6%, high median household income, and diverse population suggest a stable and attractive location for residents. The area's high homeownership rate of 85.1% also indicates a strong sense of community and investment in the area.
How does the demographic diversity of Union Hill-Novelty Hill, WA impact the real estate market?
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The demographic diversity of Union Hill-Novelty Hill, WA, with top ethnicities including White, Asian, and Hispanic or Latino, and a foreign born rate of 18.5%, suggests a vibrant and inclusive community. This diversity, combined with the area's high median household income, low poverty rate, and strong employment rate, makes it an attractive location for real estate investment. The area's high health insurance coverage rate and relatively low average commute time also contribute to a high quality of life, making it an ideal location for a diverse range of residents.
What are the implications of the high median property value and property taxes in Union Hill-Novelty Hill, WA for real estate investors?
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The high median property value of $743,400 and median property taxes of $8,300 in Union Hill-Novelty Hill, WA may present a barrier to entry for some investors, but also suggest a high potential for long-term appreciation and rental income. The area's low poverty rate, high median household income, and strong employment rate all contribute to a stable market, making it an attractive location for real estate investment. Additionally, the area's high health insurance coverage rate and relatively low average commute time indicate a high quality of life, making it an ideal location for residents and investors alike.
Union Hill-Novelty Hill WA Real Estate & City Facts
Key facts and real estate information about Union Hill-Novelty Hill WA.
What are some of the best neighborhoods to live in Union Hill-Novelty Hill?
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Some of the best neighborhoods to live in Union Hill-Novelty Hill include Redmond Ridge, which features plenty of new construction Craftsman houses on streets lined with sidewalks, offering walkability through the neighborhood. Most homes in this area are considered to be part of Novelty Hill. Union Hill is also a desirable area, with a mix of older and newer homes.
What are some fun things to do in Union Hill-Novelty Hill?
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There are plenty of fun things to do in Union Hill-Novelty Hill, including visiting the Seattle Center, the Museum of Flight, and the University of Washington. Outdoor enthusiasts can enjoy activities like hiking and cycling at Marymoor Park or Lake Sammamish. For a more relaxing experience, you can take a stroll through the beautiful Twanoh State Park or visit the Dalby Water Wheel.
What is the food scene like in Union Hill-Novelty Hill?
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The food scene in Union Hill-Novelty Hill is diverse and exciting, with a range of restaurants to suit every taste. Some popular options include Luigi's Cocina Restaurant, Corie's Cafe, and Momiji. You can also find a variety of international cuisines, such as Japanese at Fuji Steak House or Italian at Matts' Rotisserie & Oyster Lounge. There are also plenty of great food trucks and casual eateries to grab a quick bite.
What are the pros and cons of living in Union Hill-Novelty Hill?
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The pros of living in Union Hill-Novelty Hill include its beautiful natural scenery, with plenty of parks and outdoor spaces to enjoy. The area is also known for its excellent schools and low crime rate, making it a great place to raise a family. However, some cons include the high cost of living, with median house prices being quite expensive. Additionally, traffic in the area can be heavy, especially during rush hour.
Is Union Hill-Novelty Hill a good place to live?
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Overall, Union Hill-Novelty Hill is a great place to live, with its beautiful scenery, excellent schools, and low crime rate. While it may have some drawbacks, such as high costs and traffic, the area's many advantages make it a desirable location for many people. Whether you're looking for a family-friendly community or a vibrant cultural scene, Union Hill-Novelty Hill has something to offer.
⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Apartment Building with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Apartment Building
Cap Rate
7.97%
NOI
$183,300
Size
0 SF
📊 Average Income For Union Hill-Novelty Hill WA Commercial Property: $143,419
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⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Property with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,324
Size
0 SF
⭐ Featured
Prime 18-Unit Multifamily Investment in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
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⭐ Featured
Prime Value-Add Opportunity: 8-Unit Multifamily Asset in San Fernando, CA
$1,750,000
San Fernando
Multifamily
Cap Rate
6.66%
NOI
$116,550
Size
5,040 SF
⭐ Featured
Prime Valley Village Multifamily: 48-Unit Modern Apartment Complex with 3.39% Cap Rate
$30,000,000
Valley Village
Multifamily
Cap Rate
3.39%
NOI
$1,017,000
Size
52,393 SF
⭐ Featured
Prime San Fernando Multifamily: 5-Unit Value-Add Opportunity with 7.76% Cap Rate
$1,275,000
San Fernando
Multifamily
Cap Rate
7.76%
NOI
$98,945
Size
10,888 SF
⭐ Featured
Prime Turnkey Investment: Modern 2022 Multifamily Condo in Miami's High-Growth 33127
$2,450,000
Miami
Multifamily (Condo)
Cap Rate
%
NOI
$0
Size
30,000 SF
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⭐ Featured
Prime Investment Opportunity: 1531 Green St, Philadelphia, PA - Value-Add Multifamily Asset
$1,375,000
Philadelphia
Multifamily
Cap Rate
%
NOI
$0
Size
6,624 SF
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