24-Unit Apartment
New
For Sale
$5,795,000
1012 Queen Anne Avenue N, Seattle, WA 98109
Studio, one-bedroom, and two-bedroom homes offer a range of layouts, with hardwood flooring and built-in details in select units.
Property Size16,450 SF
Days on Market4
Property Features for 1012 Queen Anne Avenue N
General Information
Standard status
Active
Size
16,450 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
24
Taxes and HOA fees
Annual Taxes
$56,514
Building Details
Building Size
16,450 SF
Year Built
1913
Construction
wood-framed brick
Listing Agency:
Paragon Real Estate Advisors
Listed By:
Cathy Jeney
(206) 623-8880
Source:
Marypong
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:41AM
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 Paragon Real Estate Advisors
Investment Insights
Based on property information with market context.
Built in 1913, this 24-unit apartment building has wood-frame and brick construction. Its unit mix includes studios, one-bedroom apartments, and two-bedroom apartments. Hardwood floors and closet storage feature in the residences, while select interiors retain built-ins and French glass doors. Two-bedroom layouts include an eating nook and a separate formal dining room.
Upper-floor apartments look toward Elliott Bay, downtown Seattle, and the Space Needle. The property is between Lower and Upper Queen Anne, with Kerry Park, Seattle Center, the Space Needle, Climate Pledge Arena, and a Trader Joe’s within walking distance. Its Walk Score is 94.
Upper-floor apartments look toward Elliott Bay, downtown Seattle, and the Space Needle. The property is between Lower and Upper Queen Anne, with Kerry Park, Seattle Center, the Space Needle, Climate Pledge Arena, and a Trader Joe’s within walking distance. Its Walk Score is 94.
Key Highlights
- 24 apartments across studio, one‑bedroom, and two‑bedroom layouts
- Built in 1913 with wood‑frame and brick construction
- Two‑bedroom units have a kitchen eating nook and formal dining room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$277,641
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,552,820
$5.6M
Cap Rate 7%
$3,966,300
$4.0M
Cap Rate 9%
$3,084,900
$3.1M
Market Conditions
NOI Build-Up for 16,450 SF
Gross rent
$523.1K $31.80/SF
− Vacancy
−$18.3K −$1.11/SF
EGI
$504.8K $30.69/SF
− OpEx
−$227.2K −$13.81/SF
NOI
$277.6K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,552,820
Cap Rate 7%
$3,966,300
Cap Rate 9%
$3,084,900
Alternative Uses
Best Use
Apartment 5plus
$3.97M
$3.47M – $4.63M
NOI $277,641 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.77M
NOI $346,432 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
2,796
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Studio, one-bedroom, and two-bedroom homes offer a range of layouts, with hardwood flooring and built-in details in select units.
Where is this apartment building located?
The property is located at 1012 Queen Anne Avenue N Seattle, WA.
What is the asking price?
The asking price for this property is $5,795,000.
What are key features of this property?
This property features: 24 apartments across studio, one‑bedroom, and two‑bedroom layouts; Built in 1913 with wood‑frame and brick construction; Two‑bedroom units have a kitchen eating nook and formal dining room
