10-Unit Apartment
11255 Greenwood Ave N, Seattle, WA 98133
For Sale
$2,200,000
The property is a multifamily asset on Greenwood Avenue North in Seattle.
Property Size8,336 SF
Days on Market50
Property Features for 11255 Greenwood Ave N
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Listed By:
Dea Sumantri
(206) 383-3399
Source:
Lee-associates
Added: Sep 26
Changed: Nov 4
Last Checked: Nov 12 at 6:23AM
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 Dea Sumantri
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Investment Insights
Based on property information with market context.
This 10-unit apartment property was built in 1976 and is located at 11255 Greenwood Ave N in Seattle. It is situated in the Greenwood neighborhood along Greenwood Avenue North.
Key Highlights
- 10‑unit multifamily property
- Built in 1976
- Located on Greenwood Avenue North in Seattle’s Greenwood neighborhood
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,673
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,793,460
$2.8M
Cap Rate 7%
$1,995,329
$2.0M
Cap Rate 9%
$1,551,922
$1.6M
Market Conditions
NOI Build-Up for 8,336 SF
Gross rent
$265.1K $31.80/SF
− Vacancy
−$11.1K −$1.34/SF
EGI
$254.0K $30.46/SF
− OpEx
−$114.3K −$13.71/SF
NOI
$139.7K $16.76/SF
Area
ZIP 98133
Vacancy
4.20%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,793,460
Cap Rate 7%
$1,995,329
Cap Rate 9%
$1,551,922
Alternative Uses
Best Use
Apartment 5plus
$2.00M
$1.75M – $2.33M
NOI $139,673 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,136 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
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Business Placement
Demographics for 98133, WA
50,720
Population
24,730
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
7,144
Density / Sq Mi
$92,371
Median Household Income
$60,328
Median Earnings
$1,794
Median Rent
$719,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property is a multifamily asset on Greenwood Avenue North in Seattle.
Where is this apartment building located?
The property is located at 11255 Greenwood Ave N Seattle, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 10‑unit multifamily property; Built in 1976; Located on Greenwood Avenue North in Seattle’s Greenwood neighborhood
