Triplex with Six-Car
New
For Sale
$995,000
1145 N 93rd St, Seattle, WA 98103
LR3-zoned triplex with fireplaces, in-unit laundry, decks, and tandem off-street parking.
Property Size2,940 SF
Price / SF$338.44
Days on Market5
Property Features for 1145 N 93rd St
General Information
Standard status
Active
Size
2,940 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
LR3
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
fireplaces
washers and dryers
decks
Building Details
Year Built
1968
Buildings
1
Listing Agency:
WILCOX REAL ESTATE
Listed By:
Charles and Janette Wilcox
(253) 256-1721
Source:
Wilcoxrealestatewa
Added: Sep 20
Last Checked: Sep 24 at 9:29AM
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 WILCOX REAL ESTATE
Investment Insights
Based on property information with market context.
Built in 1968, this Seattle triplex contains three 980-square-foot units, each with two bedrooms, roomy living areas, a fireplace, and a washer and dryer. The lower two units share an adjoining stairwell, while the upper residences include private decks. One lower unit has updated paint, carpet, and bathroom finishes.
The property is zoned LR3 and provides tandem off-street parking for 6 cars from the alley. Located at 1145 N 93rd St in Seattle’s Licton Springs area, the triplex is minutes from light rail, Green Lake, bus lines, and restaurants.
The property is zoned LR3 and provides tandem off-street parking for 6 cars from the alley. Located at 1145 N 93rd St in Seattle’s Licton Springs area, the triplex is minutes from light rail, Green Lake, bus lines, and restaurants.
Key Highlights
- Three 980‑square‑foot units, each with 2 bedrooms
- LR3 zoning
- Tandem off‑street parking for 6 cars accessed from the alley
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
$52,510
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
5.28%
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%
$1,050,200
$1.1M
Cap Rate 7%
$750,143
$750.1K
Cap Rate 9%
$583,444
$583.4K
Market Conditions
NOI Build-Up for 2,940 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
$79.4K $27.00/SF
− Vacancy
−$4.4K −$1.49/SF
EGI
$75.0K $25.51/SF
− OpEx
−$22.5K −$7.65/SF
NOI
$52.5K $17.86/SF
Area
ZIP 98103
Vacancy
5.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,050,200
Cap Rate 7%
$750,143
Cap Rate 9%
$583,444
Alternative Uses
Best Use
Multifamily LT 5
$750.1K
$656.4K – $875.2K
NOI $52,510 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$670.1K
$586.3K – $781.8K
NOI $46,907 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,190 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,186
Businesses Nearby
Explore this area
Business Placement
Demographics for 98103, WA
53,056
Population
27,857
Households
1.9
Avg Household Size
35
Median Age
77%
College-Educated
98%
High-School Grad
4.6 sq mi
ZIP Area
11,534
Density / Sq Mi
$127,372
Median Household Income
$80,508
Median Earnings
$2,006
Median Rent
$1,012,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - LR3-zoned triplex with fireplaces, in-unit laundry, decks, and tandem off-street parking.
Where is this triplex located?
The property is located at 1145 N 93rd St Seattle, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three 980‑square‑foot units, each with 2 bedrooms; LR3 zoning; Tandem off‑street parking for 6 cars accessed from the alley
