Triplex with Skyline
1001 1ST, Seattle, WA 98109
For Sale
$1,500,000
Three separately entered apartments include private decks, a coin-operated laundry room, and off-street parking.
Property Size3,000 SF
Price / SF$500
Days on Market74
Property Features for 1001 1ST
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
coin-operated laundry
storage lockers
private decks
stone fireplaces
Building Details
Year Built
Buildings
Construction
Listing Agency:
Blake Investment Advisors
Listed By:
Gabe Blake
(206) 618-2207
Source:
Skylineproperties
Added: Sep 1
Changed: Nov 12
Last Checked: Nov 12 at 8:30AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1953 wood-frame triplex contains three apartments with exterior entrances. The two matching units each have two bedrooms, one bathroom, and approximately 1,080 square feet, with living rooms, stone fireplaces, dining areas, and private decks. The third apartment offers one bedroom and approximately 840 square feet. Hardwood flooring is present in Units 2 and 3; Unit 1 has carpet in its living areas and bedrooms. The property also has a coin-operated laundry room, unit-specific storage lockers, a covered carport, and an uncovered parking stall. Electricity is separately metered, and each apartment uses electric baseboard heat.
Situated on Queen Anne Hill, the property offers walkable access to major employers, dining, shopping, the Space Needle, Seattle Center, and Climate Pledge Arena. The decks at Units 1 and 2 provide views of the Seattle skyline and Puget Sound.
Situated on Queen Anne Hill, the property offers walkable access to major employers, dining, shopping, the Space Needle, Seattle Center, and Climate Pledge Arena. The decks at Units 1 and 2 provide views of the Seattle skyline and Puget Sound.
Key Highlights
- Three apartments: two two‑bedroom, one‑bath units and one one‑bedroom unit
- Units 1 and 2 each offer approximately 1,080 square feet; Unit 3 has approximately 840 square feet
- Private decks at Units 1 and 2 with Seattle skyline and Puget Sound views
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.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,471
Businesses Nearby
Explore this area
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
$986,000
Median Home Value
Market
Average Price Trend$/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 separately entered apartments include private decks, a coin-operated laundry room, and off-street parking.
Where is this triplex located?
The property is located at 1001 1ST 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 apartments: two two‑bedroom, one‑bath units and one one‑bedroom unit; Units 1 and 2 each offer approximately 1,080 square feet; Unit 3 has approximately 840 square feet; Private decks at Units 1 and 2 with Seattle skyline and Puget Sound views
