8-Unit Multifamily
109 4th Avenue SE, Pacific, WA 98047
For Sale
$1,899,000
Four duplex buildings offer two-bedroom layouts, private storage sheds, and covered patios.
Property Size5,984 SF
Price / SF$317.35
Days on Market185
Property Features for 109 4th Avenue SE
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
storage shed
covered patio
dishwasher
washer/dryer
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listing Agency:
WeLakeside
Listed By:
Karel Sir
(425) 246-1453
Source:
Ballpark-realty
Added: May 8
Changed: Nov 8
Last Checked: Nov 7 at 9:10PM
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 WeLakeside
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Investment Insights
Based on property information with market context.
The property comprises four duplex buildings with eight total units. Each apartment has two bedrooms, one bathroom, and 748 square feet, along with a private storage shed and covered patio. Unit features include vinyl windows, a dishwasher, and a washer and dryer. Five apartments have replacement kitchen cabinets installed; cabinets for the remaining three have been purchased but not fitted. The buildings date to 1967, with plumbing and electrical systems updated in 2005, and have metal roofs.
The site backs onto a public park maintained by the City of Pacific. Parking is available for residents and guests. The units have had no vacancies for more than two years, and the property is occupied by long-term tenants.
The site backs onto a public park maintained by the City of Pacific. Parking is available for residents and guests. The units have had no vacancies for more than two years, and the property is occupied by long-term tenants.
Key Highlights
- Eight units across four duplex buildings; each apartment has 2 bedrooms, 1 bathroom, and 748 sq. ft.
- Plumbing and electrical systems updated in 2005; original year built is 1967
- Private storage shed and covered patio for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,009
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,860,180
$1.9M
Cap Rate 7%
$1,328,700
$1.3M
Cap Rate 9%
$1,033,433
$1.0M
Market Conditions
NOI Build-Up for 5,984 SF
Gross rent
$179.5K $30.00/SF
− Vacancy
−$10.4K −$1.74/SF
EGI
$169.1K $28.26/SF
− OpEx
−$76.1K −$12.72/SF
NOI
$93.0K $15.54/SF
Area
King County, WA
Vacancy
5.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,860,180
Cap Rate 7%
$1,328,700
Cap Rate 9%
$1,033,433
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,009 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,772 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
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Business Placement
Demographics for 98047, WA
6,966
Population
2,389
Households
2.9
Avg Household Size
34
Median Age
18%
College-Educated
89%
High-School Grad
2.1 sq mi
ZIP Area
3,317
Density / Sq Mi
$102,723
Median Household Income
$49,360
Median Earnings
$1,728
Median Rent
$431,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in King County, WA
Properties on Market for Multifamily properties in King County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four duplex buildings offer two-bedroom layouts, private storage sheds, and covered patios.
Where is this multifamily property located?
The property is located at 109 4th Avenue SE Pacific, WA.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Eight units across four duplex buildings; each apartment has 2 bedrooms, 1 bathroom, and 748 sq. ft.; Plumbing and electrical systems updated in 2005; original year built is 1967; Private storage shed and covered patio for every unit
