Seattle Multifamily Investment
1120 91st St Seattle, WA 98103
For Sale
$1,300,000
Eight-unit building with income potential near downtown Seattle.
Property Size3,200 SF
Price / SF$406.25
Days on Market187
Property Features for 1120 91st St
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Building Details
Year Built
1986
Listing Agency:
REAL BROKER LLC
(206) 926-3701
Listed By:
CHARLES BURNETT, CCIM
Source:
Corcoran
Added: Jan 24
Changed: Jul 6
Last Checked: Jul 29 at 8:33AM
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 REAL BROKER LLC
Investment Insights
Based on property information with market context.
This 8-unit building presents a strong income opportunity with flexible operating strategies. Configured as hotel-style studios, each unit includes a full bath and kitchenette. The property was previously used as overflow lodging for a nearby hotel. Each unit is separately metered for electric, providing the option to operate as short-term or extended-stay lodging, or to reposition as long-term rentals for stable cash flow. The property features high rent-per-square-foot potential, value-add upside, and ground-level parking with 8 spaces. A storage room on the second floor is plumbed for laundry. Recent roof and major capital improvements have been completed by the original owner. The property offers a convenient location with quick access to I-5 and Hwy 99, and close proximity to downtown, supporting strong and consistent rental demand. The property size is 3200 square feet.
Key Highlights
- Strong income potential with flexible operating strategies.
- Each unit is a hotel‑style studio with a full bath and kitchenette.
- Separately metered for electric, enabling easy management of utility costs.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.9k | $30.60 |
| − Vacancy | −$5.1k | −$1.59 |
| EGI | $92.8k | $29.01 |
| − OpEx | −$41.8k | −$13.05 |
| NOI | $51.1k | $15.95 |
3,200 SF · lease $30.60/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$729.4K
$638.2K – $850.9K
NOI $51,055 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,547 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit building with income potential near downtown Seattle.
Where is this apartment building located?
The property is located at 1120 91st St Seattle, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Strong income potential with flexible operating strategies.; Each unit is a hotel‑style studio with a full bath and kitchenette.; Separately metered for electric, enabling easy management of utility costs.
