No current listing
Budgets & Governing Documents
Seavue owners have worked very diligently over the past several years to ensure the condition of the building was a priority. Most recently we have been putting on a new roof and currently working on several projects, including paving, new entrance doors and more.
The roof, like many flat roofs in Edmonds, was a source of problems. Because of this we carefully choose the roofing material and water management. In the end we selected Dura-Last, a 60 mil PCV material. We are using crickets to move the water to the center of the structure using original four-inch drains. The result will be no ponding and not water going to the outside of the building. The drains were an original design of the building, but worthless with a dead flat roof.
The exterior of the building is a commercial grade stucco and new Hardi Plank, which is an emended paint cement board, was installed in the summer of 2016 along with the exterior of the building be painted. The primary reason for the substantial upgrade was from years of deferred maintenance. Seavue considers maintaining the property a priority.
Remember a unit owner is an owner of the building, and not just the unit itself.
All condominiums are governed under State law. In Seavue's case, RCW - 64.32, the "Old Act" however, the owner have adopted all conditions of the "New Act" permissible. In addition, there are other requirements. Regardless where you buy a condominium, an owner should seek advice from an attorney to understand the applicable condominium Act that is applicable.
Seavue's Monthly Assessment Fees
Consider what is included in the monthly assessment fees. Here is a list of those included in Seavue's fee. Seavue’s Monthly Condo Fees include: water, garbage, recycling, sewer, landscaping, weekly common area housekeeping, general and earthquake insurance, repairs, maintenance, Comcast cable 100 channel program, 100 MB internet. Also included is our reserve funding fees. Our reserve funding is on a based line basis; we look to have in place adequate reserves so special assessments are not necessary.
This is a general brief about Seavue; it is not intended to offer any legal advice.
Consult your attorney and real estate agent for appropriate details.
For Sale:
Currently no units.
About Seavue
The condominium was built in 1979 and has 18 units. The units have five different floor plans and offer some of the largest units available in Edmonds ranging from over 1,236 to 1,537 sq ft. 11 of the 18 units have a private garage, five have a common garage facilities, and two have open assigned parking spaces. The building offers a commercial size elevator, three apartment levels and balconies are 100 to 200sq. ft.
The condo is 100% owner occupied.
When Buying a Condo
- Ask to I review owner meeting minutes and financial statements. Make sure you are getting enough detail to understand how the condo is being managed.
- Is there earthquake insurance?
- Consider you are buying into a partnership with shared input - as the board has the fiduciary responsibility to manage the condo and makes the majority of the decisions. You want to understand how they will manage your investment.
- If serious about buying a unit consider calling or meeting some of officers and board members.
Owning a condo can offer some great lifestyle advantages, but do not think it comes without responsibility.
- Who is taking care of the building?
- How are they managing the money?
- Is the condo professionally managed?