Queen Anne View
1001 1st Avenue N, Seattle, WA 98109
For Sale
$1,500,000
Three independently entered apartments include private outdoor space, laundry, parking, and individual storage lockers.
Property Size3,000 SF
Days on Market53
Property Features for 1001 1st Avenue N
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Road Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
coin-operated laundry room
private decks
stone fireplaces
storage lockers
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Blake Investment Advisors
Listed By:
Gabe Blake
(206) 618-2207
Source:
Marypong
Added: Sep 23
Changed: Nov 7
Last Checked: Nov 12 at 2:47PM
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 Blake Investment Advisors
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Investment Insights
Based on property information with market context.
This 1953 triplex contains three apartments, each with its own exterior entrance. Two units offer two bedrooms, one bathroom, and approximately 1,080 square feet apiece, with fireplaces, separate dining areas, and private decks. The third apartment has one bedroom and approximately 840 square feet. Hardwood floors are present in two units; the remaining apartment has carpet in its living areas and bedrooms. Electric baseboard heat and separately metered electricity serve the building.
The decks capture views of the Seattle skyline and Puget Sound. Residents have access to a coin-operated laundry room, a covered carport, one additional uncovered parking stall, and a storage locker for each apartment.
The decks capture views of the Seattle skyline and Puget Sound. Residents have access to a coin-operated laundry room, a covered carport, one additional uncovered parking stall, and a storage locker for each apartment.
Key Highlights
- Three‑unit building constructed in 1953
- Two 2‑bedroom, 1‑bath apartments of approximately 1,080 square feet each
- One 1‑bedroom apartment with approximately 840 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,149
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,082,980
$1.1M
Cap Rate 7%
$773,557
$773.6K
Cap Rate 9%
$601,656
$601.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$81.0K $27.00/SF
− Vacancy
−$3.6K −$1.22/SF
EGI
$77.4K $25.79/SF
− OpEx
−$23.2K −$7.74/SF
NOI
$54.1K $18.05/SF
Area
Seattle, WA
Vacancy
4.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,082,980
Cap Rate 7%
$773,557
Cap Rate 9%
$601,656
Alternative Uses
Best Use
Multifamily LT 5
$773.6K
$676.9K – $902.5K
NOI $54,149 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$723.3K
$632.9K – $843.9K
NOI $50,634 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$902.6K
$789.7K – $1.05M
NOI $63,179 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,583
Businesses Nearby
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Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Seattle, WA
Properties on Market for Triplexes in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three independently entered apartments include private outdoor space, laundry, parking, and individual storage lockers.
Where is this triplex located?
The property is located at 1001 1st Avenue N Seattle, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three‑unit building constructed in 1953; Two 2‑bedroom, 1‑bath apartments of approximately 1,080 square feet each; One 1‑bedroom apartment with approximately 840 square feet
