The Vine Condominiums – Belltown
2607 Western Ave, Seattle
The Vine Condominiums is a two tower condo community on the northwest end of Belltown. Being one of the first large scale condos in the newly emerging Belltown back in the early 2000’s it sits on a prime piece of land close the waterfront and is close to the Olympic Sculpture Park, Myrtle Edwards Park and the biking and running trail along the waterfront. It is also close to the amenities of Belltown, Lower Queen Anne and the Pike Place Market putting it just a few blocks from a plethora of restaurants, cafes, and events. The building was built in 2002 so some of the interiors might feel a bit dated but the building has made updates to their common areas to keep the building feeling modern.
- 177 units
- 2 towers – one is 12 stories, the other is 6 stories
- Built in 2002
- There are studios, one and two bedroom units
- Range in size from approximately 447 – 1494 square feet
- All have 1 or 2 parking spaces and all have storage
- 10 units have sold in the last 6 months ranging in price from $278,000 to $610,000
- HOA dues include: sewer, garbage, water, gas (for fireplaces and gas ranges), earthquake insurance, amenities, master insurance policy
- Amenities: party room (recently updated), community view terrace with BBQ, gym, hobby room/shop, car wash area, concierge, two guest suites, conference room, 24 hour concierge staff
- Many of the units have views of the Puget Sound, mountains, Space Needle, and/or Seattle skyline
- Nice package of amenities in the building to enjoy along with your condo space
- Rental cap in place makes it easier to get financing as a buyer or to refinance
- Well run building with over $1 million dollars in reserves (at time of post they have a 100% funded budget – very rare to accomplish this)
- Pro-active building that has updated some of the common areas to keep the building looking current
- Located in Belltown, it is within close proximity to restaurants, coffee shops, and few block from the waterfront itself along with the Olympic Sculpture Park and Myrtle Edwards and the Pike Place Market
- Parking is in secured garage and every unit has parking and storage
- Western is down the hill from Belltown so it requires going uphill to get to the amenities of Belltown
- Many of the units have carpet currently which seems to be not as desirable to buyers in the current market who prefer hardwoods
- Rental cap makes it not an option for investor buyers – you have to live there for a year before you can rent your unit out and there is currently a waiting list
- The shorter tower is a wood frame building so it can be a bit louder between units above or below you
- Some of the south facing units, especially those in the south tower, will likely have their view of the city, at least partially, obstructed by an upcoming multi-family building development on the southeast corner of Western and Vine that is currently in the permit phases with the city of Seattle
To see a video of an example of an actual unit at The Vine Condominiums click here.
By Marco Kronen with Seattle Condo Review: A guide to Seattle Condos and Downtown Seattle Condos exclusively for buyers and sellers.
Another con is the they’re re-doing the stucco siding and there will be a special assessment for each unit.
The south, 6-story tower is also of Type-I (concrete) construction.
we are currently looking to purchase one of the units in the bigger tower… Any idea what the special assessment might run into?