Five-Unit Apartment
For Sale
$1,199,950
1-5-7103 Linden Ave N, Seattle, WA 98103
Two-building property with updated systems, individual electric metering, laundry, and storage.
Property Size3,275 SF
Price / SF$366.40
Days on Market12
Property Features for 1-5-7103 Linden Ave N
General Information
Standard status
Active
Size
3,275 SF
Property subtype
Residential Income
Zoning
LR3
Occupancy
100%
Additional Details
Cap Rate
6.15%
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,177
Amenities
coin-operated laundry
on-site storage units
Building Details
Buildings
2
Listing Agency:
Lotside
(425) 441-3180
Listed By:
Nicholas Riddell
(425) 441-3180
Source:
Exprealty
Added: Jul 29
Changed: Aug 7
Last Checked: Aug 8 at 8:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lotside
Investment Insights
Based on property information with market context.
This five-unit apartment property consists of two buildings on one tax parcel, with approximately 3,275 square feet of living area. The west structure is a three-bedroom, one-bath residence of approximately 1,280 square feet, while the east structure contains four one-bedroom apartments. Interior layouts are open, with strong daylight throughout the units, and Unit #2 has received a recent remodel.
Property improvements include updated roofs, siding, windows, exterior paint, and electrical systems. Each unit has separately metered electrical service, and the site includes coin-operated laundry equipment and storage units. The property is fully occupied and carries a current 6.15% cap rate.
The asset is located one block from Green Lake in Seattle. LR3 zoning is identified in the property information as offering additional development potential.
Property improvements include updated roofs, siding, windows, exterior paint, and electrical systems. Each unit has separately metered electrical service, and the site includes coin-operated laundry equipment and storage units. The property is fully occupied and carries a current 6.15% cap rate.
The asset is located one block from Green Lake in Seattle. LR3 zoning is identified in the property information as offering additional development potential.
Key Highlights
- Five units across two buildings on one tax parcel
- Approximately 3,275 square feet of living space
- West building includes a 3‑bedroom, 1‑bath residence with approximately 1,280 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,252
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,045,040
$1.0M
Cap Rate 7%
$746,457
$746.5K
Cap Rate 9%
$580,578
$580.6K
Market Conditions
NOI Build-Up for 3,275 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$100.2K $30.60/SF
− Vacancy
−$5.2K −$1.59/SF
EGI
$95.0K $29.01/SF
− OpEx
−$42.8K −$13.05/SF
NOI
$52.3K $15.95/SF
Area
ZIP 98103
Vacancy
5.20%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,045,040
Cap Rate 7%
$746,457
Cap Rate 9%
$580,578
Alternative Uses
Best Use
Apartment 5plus
$746.5K
$653.2K – $870.9K
NOI $52,252 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,669 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,699
Businesses Nearby
Explore this area
Business Placement
Demographics for 98103, WA
53,056
Population
27,857
Households
1.9
Avg Household Size
35
Median Age
77%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
11,534
Density / Sq Mi
$127,372
Median Household Income
$80,508
Median Earnings
$2,006
Median Rent
$1,012,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building property with updated systems, individual electric metering, laundry, and storage.
Where is this apartment building located?
The property is located at 1-5-7103 Linden Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $1,199,950.
What are key features of this property?
This property features: Five units across two buildings on one tax parcel; Approximately 3,275 square feet of living space; West building includes a 3‑bedroom, 1‑bath residence with approximately 1,280 square feet
