Seattle Multifamily Investment
For Sale
$2,700,000
109 & 115 30th Ave, Seattle, WA 98122
Two buildings totaling 4,960 SF in Seattle, WA.
Property Size5,240 SF
Price / SF$544.35
Days on Market118
Property Features for 109 & 115 30th Ave
General Information
Standard status
Active
Size
5,240 SF
Class
C
Property subtype
Multifamily
Building Details
Building Size
5,240 SF
Year Built
1929
Buildings
2
Listing Agency:
Kidder Mathews - Seattle
(206) 296-9610
Listed By:
Dan Swanson · License #13533
(206) 296-9610
Source:
Kidder
Added: Apr 14
Changed: Aug 8
Last Checked: Aug 8 at 2:57PM
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 Kidder Mathews - Seattle
Investment Insights
Based on property information with market context.
This offering features two multifamily properties located in Seattle, Washington. The combined size of the buildings is 4,960 square feet.
Key Highlights
- Two buildings totaling 4,960 SF
- Located in Seattle, WA
- Year Built: 1929
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
$83,714
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
3.10%
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%
$1,674,280
$1.7M
Cap Rate 7%
$1,195,914
$1.2M
Cap Rate 9%
$930,156
$930.2K
Market Conditions
NOI Build-Up for 4,960 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
$157.7K $31.80/SF
− Vacancy
−$5.5K −$1.11/SF
EGI
$152.2K $30.69/SF
− OpEx
−$68.5K −$13.81/SF
NOI
$83.7K $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 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%
$1,674,280
Cap Rate 7%
$1,195,914
Cap Rate 9%
$930,156
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,714 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,456 @ 7.0% cap · market cap 3.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,182
Businesses Nearby
Explore this area
Business Placement
Demographics for 98122, WA
41,646
Population
24,942
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
18,107
Density / Sq Mi
$106,479
Median Household Income
$69,673
Median Earnings
$1,991
Median Rent
$929,400
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?
Multifamily property - Two buildings totaling 4,960 SF in Seattle, WA.
Where is this multifamily property located?
The property is located at 109 & 115 30th Ave Seattle, WA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Two buildings totaling 4,960 SF; Located in Seattle, WA; Year Built: 1929
