Dexter Place Condos – Queen Anne
Dexter Place is a new conversion project on the East side of Queen Anne that recently began sales. The building was originally constructed in 1985 and includes 27 one bedroom + den units. Amenities include:
- Spacious 1 bedroom homes with dens
- Views of Lake Union and downtown
- Private Patios
- Fireplace in every home
- Controlled-access, underground parking
- Granite countertops, stainless appliances
- Elevator access from parking garage
- Optional storage for $5,000
>> View available Dexter Place condos for sale
Ben – do you have any additional info on this project? Is it overpriced at $299,950 for a 910 sq ft one bedroom w/ den? Basically, is it a good deal for the neighborhood. It seems hard to find something that size in Seattle for under $300K. Any info and your general thoughts are helpful.
Price-wise, it’s very fair considering the size and den, plus a patio area. The developer has also thoroughly tested the siding (per sales agent) and did a solid job with the conversion. I think one thing to consider is location as it’s situated between Dexter and Aurora, but does provide easy access to the downtown area.
Ben – what type of appreciation do you see for the Dexter place? I really like the size, the interior features, the location to lake union, fremont and downtown. However, I am unsure about any appreciation in property value over the next couple of years. Any thoughts?
JH – that IS the question. It’s very difficult to forecast how the market will move in the future as there are many variables. Though, I believe the market will remain stable for sub-$400,000 properties as that’s the price level with the greatest demand and largest pool of potential buyers.
Ben – are the values on Zillow.com an accurate representation of the property’s value? A 1br/den at 910 square feet is valued around $235. It seems a bit low. Will the value go up due to the conversion and all the upgrades? Thanks
It looks like Zillow is using comps from other condo communities as a basis for their valuation which is suspect; it does not take into consideration many variables and not an indication of value for a new or converted project. The value is it providing for Dexter Place do appear to be on the low-end of the range.
Ben, any new updates or information regarding Dexter Place Condos?
I hear that they sold 16 of 25 in the past month or so. I think the bottom 2 floors are priced reasonably. The top floors are very nice b/c of the view but you have to pay a much higher price. They wanted over $150K more for the same plan I got on the 1st floor. I couldn’t justify that difference. Overall, it is a good conversion: new appliances, parking space, storage, new floors, new kitchens and cabinets, new bathrooms, functional layouts, price per square footage compared to other condos in the area, and decent location (lake union, fremont, and 5 minute bus ride to downtown retail or 2 minute drive on the 99). Overall, it was the best priced place in the area.