Diva Dude Rocky Fav Home of the Week | The Melrose Terrace
The Melrose Terrace is the most affordable building on Capitol Hill. When it comes to buying a home we all have to start somewhere, but a what fabulous start you can have at the latest listing in the Melrose Terrace. This unit in the Melrose Terrace is listed for sale by Diva pal Sam Lamb at Lake & Company. It is the perfect unit for the first time home buyer searching for affordable in-city living.
The thing that surprised me most about this unit is how much natural light it receives even though it not on the brightest side of the building. The floor to ceiling wall mirrors, which normally I am not a huge fan of are a smart addition to the space. They do an outstanding job of brightening up what could have been a dark, dull room with bright, warm, southwestern light.
The bedroom is spacious enough to easily accommodate a king size bed and it still has plenty of room for accent furniture. There is also plenty of closet space to accommodate that growing wardrobe as you climb up that corporate ladder to success. Beautiful maple hardwood floors have been installed throughout the living and dining rooms adding that extra touch for a simple yet luxurious feel. The kitchen is functional and ready for a cook of any level to use. Nice and cozy in size, a few simple upgrades would turn it into a chefs paradise.
One of my favorite things about Melrose Terrace is all of the amenities. We all love pool access especially during these hot summer days but lets face it, Seattle’s weather can be less then stellar for outdoor pool action outside of August. The indoor pool at the Melrose Terrace is ready for you to enjoy and frolic in year round. In addition to the welcoming pool the building features a recreation room, a toddler room, and an exercise room for your enjoyment. And for those of you that have out of town guests but no air mattress for them to crash on, there are guest suites that can be rented for a nominal nightly charge.
Even with all of those amenities the co-op association has managed to have the building undergo $2 million in renovations on the exterior, patio deck, roof and more. The Melrose Terrace went from being a depressing Capitol Hill eyesore to a glimmering palace that anyone would be proud to live in. So whether you are a first time homebuyer or a seasoned homeowner looking to downsize, Melrose Tower would make a fantastic place to call home.
One thing special little note is that Melrose Terrace may look like a condo building but it is actually a co-op. Not a bad thing at all, I think co-ops are fantastic places to live and often have great value. There are just some things you will need to know about them before you decide to buy. Feel free to reach out to me with any questions and I will get you information about the differences in co-op and condo ownership.
Capitol Hill Prices Hit 2007 Prices!
Ohhh wee! The Divas have not seen data like this since, like, forever! Here is the deal: we are right at the edge of 2007/2008 market pricing heights. As you know Single family homes include everything from townhouses to North Capitol Hill Manors. WE HAVE PASSED THE SEPTEMBER 2007 HIGH AVERAGE SOLD PRICE OF $837,000. The average price this last month was $956,000. Just to put it in perspective that is 14% above the height!!!! The Divas and the Diva Dudes are clapping and throwing glitter in celebration.
Now for the condos. Back in 2007 the average price of a condo was around $360,000 on Capitol Hill. Right now we are hovering around $300,000. The primary reason the sold prices are low is that there are NO TWO Bedrooms on the market. Back at the height, the months of inventory were closer to 2+ months. We most recently have been at one month of inventory for the longest period in the last seven years. In other words – expect us to pass 2007 heights by June!
Diva List of Favorite Capitol Hill Condos
Capitol Hill is absolutely bustling these days. People are moving in by the truck load, and new developments are popping up in every nook and cranny. How is anyone supposed to navigate all of this? Well lucky for you, you came to the right place – Divas know the Hill like no others and have a DIva-Approved list of some of our favorite condos and co-ops in the hood – learn a little about them, and if you want to know more about anything (even if it’s about other listings), let’s plan a coffee chat ASAP.
Capitol Hill Micro-Hoods
The Olive Way Corridor:
People tend to underestimate Olive Way, thinking the only thing down here is the big ol’ Gaybucks. But people forget that there are so many other sweet treats down here including some of our all time favorite Diva posse favorites, like the wine peeps at Vino Verite, the cocktails at Tommy Gun, and the caffeine bumps at Analog Coffee. Not to mention that Diva HQ sits right in between all of these wonderful sites and has in incredible view of the Space Needle – so come walk down and stop in to say hello!
This awesome little intersection of the three Bellevues is home to a host of awesome little places that have all really hit it big in the past few years. Head over to B/B/B to check out the original Top Pot Donuts and indulge in everyone’s favorite morning snack. If you’re more of an evening person, you can always stop in at Sun Liquor. At Sun Liquor, they have some of the best craft cocktail bartenders that we have ever encountered – so get on over and have a French 75 or a Gin Fizz before a night out.
The 15th Ave Drag:
Want a pick-me-up? Head on over to Remedy Teas to check out their huge selection of delectable drinks. Want to meet someone for one of the best brunches in all of Seattle? Check out Coastal Kitchen and their monthly rotating specialties. Need a housewarming gift? Check out Shop Agora for a bottle of wine or gourmet olive oil. Do you just want to enjoy the outdoors on a sunny spring day? Take a stroll through Volunteer Park, one of the all-around best parks for an afternoon picnic. Find anything you like on 15th.
Pike & Pine Center:
Despite invasion of Belltownians and Bellevue-ites, this micro-hood still has a ton of cred since it is home to some of the coolest places around. For those of you who love to lead the fun, quirky, and attractive lifestyle, shopping at places like our favorites Retail Therapy (home of the DivaHQ), Retrofit Home, and Atomic Cosmetics is a must. For those of you who enjoy a unique meal, you’ve got to check out Cafe Pettirosso or Momiji Sushi. It even has places for the performers in all of us with Balagan Theater showcasing independent theater all year long.
19th Ave – more than craftsmen and Catholics:
19th Ave is a hidden gem – not quite as bustling as all of the other micro-hoods, but it has just as much to offer. If you want to make the trip up to explore, we recommend making an evening of it. Grab a caffeine injection at Fuel Coffee or Vios Café. After a pick-me-up, go for the catch of the day at Kingfish Cafe, a renowned Southern comfort restaurant here in Seattle. Finally, following dinner, go see a show with the Washington Ensemble Theater, one of our favorite theater companies ever. 19th Ave will keep you busy and entertained at anytime of the day.